April 25, 2024 11:34 (IST)
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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

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.