In crisis-hit Sri Lanka, India holds all the cards ...Middle East

Quartz - Economy
In crisis-hit Sri Lanka, India holds all the cards
source : Quartz ( Middle East ) () 12
A prime minister overthrown, a besieged president, a central bank exhausted of dollars, and a people gobsmacked by an unprecedented economic crisis. Everyone has lost something in Sri Lanka. There’s been only one beneficiary: India. Sri Lanka now increasingly depends on its northern neighbour for basic stuff like fuel, medicine, and food items. The country has already been extended credit lines and currency swaps worth over $3 billion by India. New Delhi also continues to defer seeking repayment of at least $2 billion in dues owed through the Asian Clearing Union.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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