China says its loans only 10% of SL’s foreign debts

18 October 2018 08:41 pm - 11 - {{hitsCtrl.values.hits}}

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While reiterating that China was not dragging Sri Lanka into a debt trap, Chinese Foreign Ministry Spokesperson Lu Kang said Chinese loans only accounted for around 10% of Sri Lanka's foreign debts by 2017.

Mr. Lu expressed these in response to a question asked at the Ministry’s Regular Press Conference on Wednesday.

When asked about the allegations levelled by the US that China is using "debt diplomacy" to expand its influence worldwide, he said Sri Lanka has been a case repeatedly played up by some foreign media recently.

“But by 2017, Chinese loans only accounted for around 10% of Sri Lanka's foreign debts; China's loans to the Philippines made up only less than 1% of its foreign debts. Sri Lanka's Ambassador to China clearly said that the allegation of the Chinese government dragging his country into "debt traps" is entirely wrong. And recently the Finance Secretary of Pakistan also refuted US remarks that the CPEC has caused Pakistan's debt crisis. I believe these countries have the best say over these issues,” he said.

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Comments - 11

Chux Thursday, 18 October 2018 08:45 PM

At what rate???Which projects gives revenues????

Ranima Friday, 19 October 2018 12:31 AM

Beggars can't be choosers. Don't you know that.

Unchikun Thursday, 18 October 2018 08:51 PM

That is nice. At a time when a minister presents a fake curd oil equation keeping the public in the dark, China know the percentage of the debt we owe them. Nice. We too do not know about this. Thanks to RW and MR.

Alageshwara Thursday, 18 October 2018 10:26 PM

China only tried to trade with us in historical terms and also given some assistance whenever we were in trouble . In 1973 we had a famine, no food to eat. The the PM Mrs Bandaranayake went to China to beg for food (Rice). Then the PM of China agreed to share some rise and told Mrs B, that although he agree give this rice to Mrs B, his people (chinese ) does not have enough food and advised Mrs M to become self reliance on food. China newer tried to plot assassinations in our country.

confused Thursday, 18 October 2018 10:44 PM

Let's try to remember, who else gave us loans? China is the only country I can remember. Also, these were commercial loans.

Wise Donkey Thursday, 18 October 2018 11:13 PM

Some of our politicians are very weak in mathematics and may not know what 10% is but they are very clever in calculating what is going into their own pockets!

Jude Friday, 19 October 2018 08:31 AM

Maybe China can Buyback part or other whole 90% debt!!?? Yeah!!

Daya Friday, 19 October 2018 08:50 AM

You big brothers so amazing. You got capital city land and another port on lease under your control with just 10% total debt. The rest 90% only demanding their money back.

Ahmed Friday, 19 October 2018 10:46 AM

i am wondering what they have done with these loans

stardust Friday, 19 October 2018 11:54 AM

10% is not true its about 30%. via DM Android App

Jude Friday, 19 October 2018 01:08 PM

Hey China, how does 50% sounds to you!!??? Another nice round number !! And you can then say half of SL foreign debt!! Yeah, ONLY by China!!

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China says its loans only 10% of SL’s foreign debts

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