Sri Lanka disappointed by China's inadequate response to an unprecedented crisis

According to True Ceylon, China's offer of assistance to help Colombo recover from its current economic crisis is widely regarded as insufficient.

Last week, Chinese Premier Li Keqiang told Sri Lankan Prime Minister Mahinda Rajapaksa that Beijing is ready to play a constructive role in the island nation's socio-economic development and that Beijing understands the difficulties and challenges that the South Asian country faces.

In a phone call with Sri Lanka's Prime Minister, Chinese Premier Li Keqiang stated that Beijing is ready to consolidate political mutual trust with Sri Lanka, strengthen solidarity, and push for sound and stable bilateral relations development.

Noting that China sympathizes with Sri Lanka's difficulties and challenges, Li stated that China is ready to provide much-needed livelihood assistance to Sri Lanka within its capacity.

This phone call came after the China International Development Cooperation Agency (CIDCA) pledged RMB 200 million in urgent emergency humanitarian aid to Sri Lanka. Although China provided humanitarian assistance, it refused to restructure the island nation's debt.

According to True Ceylon, China's offer of assistance to help Colombo recover from its current economic crisis is widely regarded as insufficient.

Previously, Sri Lanka had asked China for financial assistance and the restructuring of its debt to China, which accounts for approximately 10% of the country's total external debt burden.

However, China reportedly stated that they were having difficulty processing Colombo's request due to "severe challenges and complications" resulting from Sri Lanka's unilateral announcement of debt repayment suspension.

Many Sri Lankans believe that China's tepid response in the midst of an unprecedented crisis amounts to humiliation.

Sri Lanka is experiencing one of the worst economic crises in its history, prompting widespread protests against Rajapaksa family leaders, including President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa.

Foreign exchange shortages caused by a drop in tourism during the COVID-19 pandemic, as well as reckless economic policies, have resulted in the country being unable to buy enough fuel, and people facing an acute scarcity of food and basic necessities, heating fuel, and gas, are being blamed for the recession. (ANI)