India’s Foreign Policy Progress in Sri Lanka is a Strategic Setback for China
It was only a year ago that Sri Lanka dominated international headlines, as its worst economic crisis in more than 70 years contributed to severe domestic strife, including deadly riots, and severe shortages of fuel, food and critical medicine. The crisis was created by a confluence of domestic policy blunders under the Rajapaksa clan, on whose watch Sri Lanka’s burden of foreign debt had grown to nearly insurmountable levels, a significant proportion of it owed to Chinese creditors. Sri Lanka’s economic troubles had been known for some time, but the Rajapaksas were unwilling to seek assistance from the International Monetary Fund (IMF).