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Chinese debt-trap: Africa should take lesson from Sri Lankan economic crisis

Chinese debt-trap: Africa should take lesson from Sri Lankan economic crisis

Apr 09, 2022, at 05:03 am

The island nation of Sri Lanka is facing one of the worst economic crisis, skyrocketing inflation, food shortages and weak government finances. This has been an outcome of a sharp rise in foreign debt since 2010, reaching 88 percent of the country’s GDP in 2019, causing a severe economic crisis.