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China had taken possession of the Hambantota port for a lease of 99 years after Colombo was unable to repay $100 million annually for the $1.7 billion loan that it had taken for the construction of the port, the first phase of which was completed in 2010. Today’s agreement with India ensures Sri Lankan territory,…
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This handout photo released by Sri Lankan Prime Minister’s Office on March 27, 2024 shows Sri Lanka’s PM Dinesh Gunawardena (left) with Chinese President Xi Jinping, before a meeting in Beijing. | Photo Credit: AFP China has said it would continue to support Sri Lanka, as the crisis-hit island nation’s Prime Minister on March 30…
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Dinesh Gunawardena. File | Photo Credit: AP Sri Lankan Prime Minister Dinesh Gunawardena arrived at Beijing on March 25 for a six-day official visit during which he will hold talks with Chinese President Xi Jinping and Premier Li Qiang on ways to further deepen bilateral ties. “Mr. Gunawardena was received on his arrival by Chinese…
Read More “Sri Lankan Prime Minister Dinesh Gunawardena arrives on six-day visit to China” »
China holds about 52 per cent of Sri Lanka’s $46 billion external credit. Colombo: The Sri Lankan government has confirmed that it has concluded a preliminary deal with China on the restructuring of its debts to Beijing, seen as a “big step” in the cash-strapped country’s economic recovery. In a statement issued on Wednesday, the…