BRI in Sri Lanka-More Than China’s Symbiotic Adventure
April 1, 2021
Research Fellow, Manohar Parrikar IDSA, Dr. Jagannath Panda’s article ‘BRI in Sri Lanka- More Than China’s Symbiotic Adventure’ has been published in the April 2021 issue of the Wedge Magazine (Japan).
The article mainly argues that while “debt-trap” diplomacy of BRI is a legitimate concern –its effects seen most ardently in the Hambantota case –Sri Lanka is not in a complete Chinese debt-trap yet – its obligation to China adds up to around 6 percent of its GDP. Nonetheless, Sri Lanka’s high debt levels show that the country needs to improve its debt management frameworks. With BRI projects being delayed due to the COVID-19 pandemic –the Colombo Port City project has especially faced multiple pandemic-induced problems –the time is ripe for Sri Lanka to strengthen its debt management abilities and implement such a strategy in future dealings with BRI.
