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Untamed borrowing from China suffocating Sri Lanka's economy

Sri Lanka flag. [Photo, Lonely Planet]

The current economic crisis facing the Sri Lanka government could be attributed to major dependence on Chinese loans.

The high dependency on borrowing under Mahinda Rajapaksa’s presidency in 2005 as well as its inability to repay debt amid a state of emergency and intense protests in the island nation have been linked dipping economy, according to a media reports in Asia.

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