It’s not just the pandemic: Why Sri Lanka’s economy is in crisis | Counting the Cost

Al Jazeera English published this video item, entitled “It’s not just the pandemic: Why Sri Lanka’s economy is in crisis | Counting the Cost” – below is their description.

Sri Lanka’s finances are in a precarious state, but the economy was already in trouble before the COVID-19 pandemic.

Between 2005 and 2015, Colombo borrowed billions from China, accumulating a mountain of debt. It was forced to hand over a port to a Chinese company after failing to keep up with payments. But Beijing is making more loans. Asia Frontier Capital’s Ruchir Desai explains why China and India are keen to help Colombo out.

Elsewhere, crisis-hit Lebanon has its third prime minister in 12 months. Diana Menhem, managing director of civic organisation Kulluna Irada, tells us little will change with the same politicians in power.

Al Jazeera English YouTube Channel

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About This Source - Al Jazeera English

The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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