Sri Lankan President Ranil Wickremesinghe recently visited China to attend the 3rd Belt and Road Forum for International Cooperation. In an exclusive interview with CMG’s Li Tongtong, President Wickremesinghe discussed his strategies to stabilize Sri Lanka’s economy amid an unprecedented economic crisis and the ongoing debt restructuring processes.
Recovering from the devastating 2004 tsunami and the 2019 terrorist bombings, Sri Lanka now faces severe economic challenges. The country’s central bank projects a 2 percent GDP contraction this year, following a 7.8 percent decline in 2022.
President Wickremesinghe expressed optimism about the role of China and the Belt and Road Initiative (BRI) in kick-starting Sri Lanka’s economy. He likened the spirit of the BRI to the historic Rubber-Rice Pact between China and Sri Lanka 70 years ago, emphasizing the importance of cooperation and mutual benefit.
Addressing concerns over the Hambantota Port and allegations of China’s “debt-trap diplomacy,” President Wickremesinghe dismissed such claims. “We are only acting in the interest of our country,” he stated, highlighting that Sri Lanka’s engagement with China aims to bolster its own economic development.
The President’s visit underscores Sri Lanka’s commitment to strengthening ties with China and seeking collaborative solutions to its economic challenges. As the nation navigates its path to recovery, partnerships like the BRI could play a pivotal role in revitalizing Sri Lanka’s economy and fostering regional connectivity.
Reference(s):
cgtn.com
