Debt-ridden Sri Lanka snuggles up to China again at India’s expense

[Godman]

Why bother mate ? ..All what that dim witted idiotic slave will get out of your post is that's somehow it's all contrary to what his god king MR has done.. Stats,figures and economics doesn't matter to them.. Hero worship does

Yep explain is useless.
Sadly the Sri Lankan Airline cannot last if it's unable to find a foreign partner again. The govt pumped 201 Million USD enough to run it till October
http://www.lankabusinessonline.com/govt-pumps-usd201mn-to-keep-srilankan-mihin-flying-until-october/

 

[Jai Bharat]

But taking loans at lower interests would certainly help your cause. e.g. Japan has offered India a Loan of 15 Billion $ for an interest of 0.1 % with a duration of 50 years payback and which needs to be paid back only after 15 years.

That is what friends do, anything else is called Loan sharking.

All that needs to be said here.

Rajakpaksa government sold the country to Chinese Loan Sharks, that is the reason why Sri Lanka is so debt ridden right now.

Seems that Chinese strategy was to put Sri Lanka into massive debt with exorbitant interest rates and then have them sell the country to them. Would have succeeded too if Rajapaksa got a third term. The Japanese Loan to India of .01% over 50 years after a 15 year grace period is what a real friendship loan looks like.

 

[Gibbs]

All that needs to be said here.

Rajakpaksa government sold the country to Chinese Loan Sharks, that is the reason why Sri Lanka is so debt ridden right now.

Seems that Chinese strategy was to put Sri Lanka into massive debt with exorbitant interest rates and then have them sell the country to them. Would have succeeded too if Rajapaksa got a third term. The Japanese Loan to India of .01% over 50 years after a 15 year grace period is what a real friendship loan looks like.

Chinese are there to do business and invest in their overseas interests, They bring money with no strings attached, There is nothing wrong with that

It's the prerogative of the host nations to use those investments wisely.. But what happens is when third world tin pot dictators see this as an opportunity to enhance their ego's with white elephant projects and to siphon off huge chucks in billions for their own pockets.. This is what exactly happened during the last Rajapaksa regime in the country.. And you will see this kind of thing across the third world from sub Saharan Africa to Latin America

But it's still better off that what the so called democratic West is doing, their Halliburton's, BP's, Shell's invade and destroy sovereign nations on the pretext of democracy just to rob the countries of their wealth and for thier arms industries to get chunks off the GDP's of warring nations

While their political benefactors in Washington, London and Geneva preach Human rights

 

[Gibbs]

All money comes with strings attached. The chinese gave the loan clearly knowing that it will be used unwisely and parts will be siphoned off.

If doing business and get a return was the only intention, why would anyone give such a bad loan ?

Clearly the object is something beyond what appears in plain sight. This is no different from Shell or BP. The loan was just front for a strategic move to encroach on the sovereignty. The monkey trap.

Not really the host govt's knows the rates and what those loans encompasses, It's not like the Chinese force it down their throats like the West do, Or even India have done in the past in the case of Sri Lanka

So i reiterate it's the prerogative of the host govt how to use those loans or even take them in the first place, The catch here is who else have such money to invest these days ? The EU ? The US ? India ? .. It's a big fat no.. Chinese have the resources and they will invest, If you're in agreement with their rates you go for it.. Unfortunately for SL it's not the strategic investments that those loans were taken but useless white elephant projects to satisfy huge ego of a despot and for him and his family to get billions off, Without any monetary returns..The Chinese dont dictate what their money should be invested on.. So thats what is the crux of the matter

As for the question of threats to Sri Lankan sovereignty.. There is only one cause to worry and it's certainly not China but from it's immediate neighbor.. As it has always been

 

[Gibbs]

No loan shark forces the loan down the throat of its victims. How does that old poem go ?

Will you walk into my parlour?' said the Spider to the Fly,
'Tis the prettiest little parlour that ever you did spy;

If you go to the bank and ask them for a loan and if they know you are going to embezzle it, do you think they will give you a loan ? But a Loan Shark will give it even if you are going to gamble with that money.

That is the difference.

The Loan shark will never tell you how to spend that money, and all those who take a loan from them are well aware of the interest rates.

But all that justification does not many it Legal or Ethical. But if you insist on defending Loan Sharking, then maybe you should suggest the Sri Lankan govt. to make it legal in SL.

There is a huge difference between a loan shark and a bank.. China is the only country that can afford to loan with or without large interest rates.. Others can only whinge about it

It is not only bilateral loans and grants that have been embezzled in history, So called multi lateral lending agencies like the Washington led World Bank or the Paris led IMF faced the same predicaments.. In the end it's the customer thats at fault not the lender

BTW why does SL has to fear from its immediate neighbour ? Do you have any oil resources we are unaware of ? or are you going to start abusing more of your minorities and forcing them into exile in India ?

The lectures of abused minorities coming from an Indian is just hilarious.. Wonder what millions of Dalits, Muslims, Kashmiri's, Khalistani's, Christians, Naga's, Assamese, Manipuri's, Naxals, Tribals and a host of others have to say about that ?

Majority of Lankan Tamils fled the conflict area's in to the rest of the island.. Because it was a civil war.. Those who fled to India is because they're recent immigrants from India

Yep take it as you please TN is a state in the Indian federation that has openly espoused separatism of another sovereign nation.. So yeah SL will keep it's apprehensions regarding it's immediate neighbor for valid reasons.. Fear mongering about China by so called Indian think tanks wont change facts on the ground and every Lankan is well aware of it

http://www.tamilguardian.com/article.asp?articleid=7427

http://sangam.org/tamil-nadu-assembly-passes-resolution-sri-lanka/

 

[Gibbs]

Sri Lanak has NO RIGHT to talk about the Internal issues of India. India OTOH has FULL right to talk about Tamil issue since Sri Lankan Tamils have been forced into exile in India.

You can talk about Indian dalit/kashmiri or whatever ONLY when you have them sitting in Sri Lanka.

Again TN as a State has FULL right to talk about Tamil rights, espcially since they have linguistic and cultural link with SL tamils and TN has been hosting SL Tamils for more than 30 years.

You are free to live in fear. That is not my problem. Its yours. Think about that when paying out those EMI's to China

Lol.. Looks like i touched a raw nerve.. Good,People in glass houses shouldn't throw stones

Chinese loans to Sri Lanka is a bilateral issue , Repaying it is a internal issue for the Lankan authorities.. So to quote you India has NO RIGHT to talk about internal issues of Sri Lanka, Better concentrate on your own crap

Whats good for the goose is good for the gander.. Since we're on idioms..

 

[dray]

Provocative headline, Sri Lanka can do business with any country, we only object when certain activities threaten our security.

 

[Gibbs]

What raw nerve ? If you are desperate enough to twist my stating facts into 'raw nerve' so that you can feel better, do so my all means.

I put few letters in bold to emphasise the point so that i don't have to repeat it again and again.

You are right, I have no right to comment on Sri Lanka, but I do have the right to make a general comment on the state of affairs which is exactly what I did. You can review my post to confirm that.

My posts about Loan sharking is a generic comment applicable for any such scenario. IF SL or even you personally chooses to take a loan from a Loan shark that is your business. Only don't pretend that it smells of roses when it really stinks of crap.

You bought in the question of sovereignty which is irrelevant to the tread, Thus bringing in Indian insecurity viz a viz China to a thread about Sri Lanka, So it was imperative to answer in fact.. Should have stuck to the subject matter.. So dont whinge about it if you cant handle the response

 

[vsdave2302]

This is what happen when you try to take the help of sruide country like china. You will have to end up in being a colony of them in long or short term. Hasan Nisar warned pakistan in this particular issue. He said that within 10 years from now , China will start treating Pakistan as their colony. However, in blind hater for India, Pakistan shall not be able to foresee this and continue to see a savior in china untill they get a kick on their back. They will ignore all warnings of the sane people like Hasan Nisar , Tarak Fattah, Pervez Hodboy and Nezam Shetty.

 

[Godman]

All that needs to be said here.

Rajakpaksa government sold the country to Chinese Loan Sharks, that is the reason why Sri Lanka is so debt ridden right now.

Seems that Chinese strategy was to put Sri Lanka into massive debt with exorbitant interest rates and then have them sell the country to them. Would have succeeded too if Rajapaksa got a third term. The Japanese Loan to India of .01% over 50 years after a 15 year grace period is what a real friendship loan looks like.

Actually China was just giving loans thinking it will win an ally and improve economic relations. Sri Lanka is not the only example of this ending in a disaster. The issue is not China but Lankan leaders who took Chinese loans for granted

 

[HeinzG]

Actually China was just giving loans thinking it will win an ally and improve economic relations. Sri Lanka is not the only example of this ending in a disaster. The issue is not China but Lankan leaders who took Chinese loans for granted

What you mean granted? Sri Lanka has two options left. Either take loans from IMF or from China. MR chose the latter for the benefit of condition free debts on infrastructure development. What is wrong with that.

 

[Godman]

Provocative headline, Sri Lanka can do business with any country, we only object when certain activities threaten our security.

More like nonsensical headline. Hell India has nothing to do here

 

[HeinzG]

Any informed person knows how Privatization of those useless companies help to create a vibrant economy and promote private sector competetition. As Mark Mobeus said the CSE lacks diversity and that is a major issue. Most CSE Blue chips are diversified conglomerates and that is a pretty big issue and the proposal to list several SOEs in the CSE received a lot of praise by economists (Not by ignorant idiots like you who say Privatization is a "crime" for some dumb reason like 1+1=1)
Private sector is meant to be more efficient and productive and thus is seen as major vehicle for Economic growth. Even in nations such as Russia where privatization came with corruption they are considered way less corrupt than Public sector.
Sri Lanka had a special agency that made sure privatization is organized and transparent but it was removed by Rajapaksa regime. Even before the agency was created and privatization was less transparent our economy boomed alongside economic liberalisation and quality of living skyrocketed. Private sector jobs came for everyone as UNP brought export oriented policies. Apparel industry was the biggest industry that created jobs for the poor in large numbers.
Private sector benefits the poor as much as it benefits the rich.
SL SOEs also have an unfair advantage over private sector in competetition and it creates monopolies that needs to be broken. A former SEMA head even explained it but I couldnt find the article. Further SOEs are used as job banks by politicians and many SOEs have more staff than it needs. Rajapaksa is also just a customer and has no right to order dozens of paying customers to be removed. Then CEO Peter Hill worked according to standards.
There is no need for the govt to fully divest. The amount of shares sold can be decided on its strategic value for govt. The govt is planning on keeping over 60% of UL under the new PPP. However they have not decided on Mihin Lanka which lacks much strategic value and they could completely sell it. Most countries have already decided to privatize airlines and SL should join the trend again.
Sri Lankas early economic liberalisation gave us a major boost however Rajapaksa administration brought back Import substitution oriented policy which failed before and was replaced by JR's export oriented industrialisation was a big success. The current govt also planning on undoing MRs that policy as well.
Both Pakistan and India has started privatization programmes already and we are falling behind because shameless idiots like you who come running naked ranting utter nonsense like 'Privatization is a crime'(Which is humiliatinglying dumb) after ruining and looting the SOEs. I have no time to fully explain here but I hope you would gain the ability of learning

How can you justify the privatization of Sri Lanka air lines. It has no monopoly because it is the sole national carrier of Sri Lanka. It has no competition from anyone. So what is the need to privatize it? Privatizing should not be done because other countries are doing it. We need strategy. Your reply implies that neither you nor your government has any clue on what is happening.

If Sri Lankan was making a loss, it is Yahapalana governments duty to making it profitable rather than sell it.

Besides are you aware that Lanka hospitals were privatized by the Yahapalana government? It was making profit when it was privatized. What was the need to privatize it?

Economic liberalization of JR boosted the import business but destroyed many of the local industries. It is an irony that the so called industrialization has to stop in apparel industry.

 

[Godman]

What you mean granted? Sri Lanka has two options left. Either take loans from IMF or from China. MR chose the latter for the benefit of condition free debts on infrastructure development. What is wrong with that.

What the hell is that? Please say something that makes sense you idiot!
Sri Lanka or any country CANNOT take Infra loans from IMF! It's NOT a bank! Any IDIOT knows that! You are just humiliating yourself by repeating the same Bullsh*t all over when I have explained about IMF in this thread.It was created to bail out countries facing BOP crisises and the conditions (Conditionality) are to increase revenue and reduce spending to not only exit the crisis but to ensure that the loan to IMF is repaid later. Even western countries like Greece have those conditions. Without those conditions the country will fall into a worse trap and IMF will not be able to run either.

This is just like your dumb rant saying "Privatization is a crime". And I have explained what Your King did wrong in this thread. Uneducated idiots can be taught but idiots like you can't even Learn. As Gibbs said explainin to you is useless

 

[Godman]

How can you justify the privatization of Sri Lanka air lines. It has no monopoly because it is the sole national carrier of Sri Lanka. It has no competition from anyone. So what is the need to privatize it? Privatizing should not be done because other countries are doing it. We need strategy. Your reply implies that neither you nor your government has any clue on what is happening.

If Sri Lankan was making a loss, it is Yahapalana governments duty to making it profitable rather than sell it.

Besides are you aware that Lanka hospitals were privatized by the Yahapalana government? It was making profit when it was privatized. What was the need to privatize it?

Economic liberalization of JR boosted the import business but destroyed many of the local industries. It is an irony that the so called industrialization has to stop in apparel industry.

WTF? Did you even read my previous post? And what the hell is that nonsesical BS?
Your own post shows how ignorant you are, It just doesn't make any sense to even explain!

You start displaying your ignorance.The SriLankan Airline is losing the competetition! Competetition among airlines is too much for the UL specially in the current state Rajapaksa left it in. privatized European Airlines as well as Middle eastern Airlines have already taken over most of UL customers and you are blabbering that it's the governments duty to make it profitable. Disgusting and shameless! The current govt has already reduced losses significantly but the debt remains sky high! Three port cities could have been built for the debt taken by the Sri Lankan.

And how the hell do you expect to make it profitable before October? eh.
You are an naked slave you shamelessly comes running ranting BS after destroying the airline and filling the pockets of your royal family. You now shout against privatizing 40% of the UL so it can be saved which will destroy Rajapaksa’s reputation even further. There is a clear strategy and It was MR that abolished the agency that was in charge creating the strategy and restructuring SOEs for privatization. Blabbering won't help as there is a strategy for what needs to be privatized and what isn't alongside the creation of a Public Wealth Trust to hold the non privatized SOEs protected from scoundrels like you
As you said this is my govt of my country so you better look what's happening in your Kingdom.

Sri Lankan needs a foreign partner before October. The 201 Million USD the Treasury pumped in will only keep the airlines flying till then. SriLankan will hopefully find a good partner and if that happens it will be profitable again and majority of those profits will be ours.

I have more than a clue, I recomend you talk about something you understand instead of trolling and humiliating your self with your stupidity. You don't even know what the hell you are ranting about but you dare says that I don't have a clue?
Profitable non strategic enterprises such as LANKA hospitals are the easiest to be privatized it's not something I need to explain. The govt has no use for it Gota only wanted it to fill his pockets. The profit from privatization is needed for urgent fiscal reform and debt repayments. This will have to go alongside several Govt owned hotel development companies. Many people agree that Lanka hospitals will be better with Hemas or Softlogic. The useful ones will be organized into a public wealth trust modeled after temaesk. The govt has a very good plan for prosperity and economic development. Govt can invest in companies and buy assets through that and that alone. Even govt owned banks will be owned by it. I repeat it AGAIn if you don't know ANY THING then just shut up instead of blabbering nonsense just like your power hungry Self proclaimed king.

Being the flag career it isnt a tool for state or corrupt politicians Your pathetic excuse to defend Rajapaksa demanding paying customers to be kicked out so he and dozens of his relatives and friends to be given seats for free is a pretty good example for your utter ignorance , blindness and servitude.You came running as usual to cover up your masters nudity in kicking out the best head SriLankan Ever had but you did it with a transparent clothe while you yourself is naked. Explanations like this are good for brain dead zombies like you not for me. You are pretty much showing how Rajapaksa destroyed the Airline unknowingly.

What use is a national carrier when they cannot host the President of the country.

LOL you are patheticly dumb.Local industries lacked the ability to compete internationally. excessive protectionism made them weak. Thanks to The opening up of the economy new industries are coming up that can compete in the international markets. If JR did not open up the economy then we would be still in extreme poverty. Even China liberlized their economy which resulted in the modern China. Chinese would be worse than India if they didn't do it. The Industrialization is NOT "So called" Please get new brain. After President Premadasa's death the development of industries slowed down. Apparel industry was the quickest and the easiest industry to start and get people our of poverty and get them jobs. Sri Lanka was about to transition into newer sectors but couldn't complete it. Singapore was able to reach the final stage and get investments in High tech industries replacing apparel industry.

Explaining to you is useless becuase you doesn't understand and have any Knowldge about anything about these only rant believing you are convincing when you are NOT.
Until idiots like you exist Sri Lanka shouldn't run businesses. As you still run licking MRs feet and opposing turning the UL into a joint venture that can gain foreign capital and expertise to compete better. Just becuase it will no longer available for politicians to loot

You cannot learn so explaining is useless. Yoy camt even freaking read but come shouting outdated "Ruling class" nonsense and other BS to cover up the theives and to make sure politicians can loot even in thw future. The only thing you see is that what's happening is against what your King says and it cannot go that way. Thus you keep making up words and ranting them.

An uneducated idiot who cannot learn cannot be taught. All explanations are useless and you only keep showing your stupidity and blind worship of Rajapaksas