How Indian, Chinese, and U.S. Corporations Vie for Control of Sri Lankan Ports – Asoka Bandarage part 2/2
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How Indian, Chinese, and U.S. Corporations Vie for Control of Sri Lankan Ports – Asoka Bandarage part 2/2

Byiizuu

Due to its prime geographical location in maintaining global value chains and shipping routes, the U.S., via the U.S. International Development Finance Corporation (DFC), as well as India’s Adani Group and China, are all investing in Sri Lanka’s ports. In part 2, sociologist Asoka Bandarage discusses how many countries and multi-national corporations treat Sri Lanka as testing and dumping grounds, exemplified by reports that the Dali ship, which crashed into the Baltimore Bridge, was carrying hazardous waste to Sri Lanka.

IMF & Private Creditors Subject Sri Lanka to Neo-Colonial Debt Bondage – Asoka Bandarage part 1/2
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IMF & Private Creditors Subject Sri Lanka to Neo-Colonial Debt Bondage – Asoka Bandarage part 1/2

Byiizuu

The Sri Lankan government turned to the IMF for a near $3 billion bailout to repay loans provided by India and Japan, as well as international sovereign bonds issued by foreign creditors such as BlackRock. Dr. Asoka Bandarage, sociologist and author of Crisis in Sri Lanka and the World, suggests that Prime Minister Rajapaksa’s declaration of bankruptcy in 2022 and the subsequent IMF bailout under Prime Minister Wickremesinghe was not an absolute necessity, but an attempt to shift Sri Lanka further under the umbrella of Western and Indian institutions, and away from Chinese loans.