Sri Lanka to scrap Japan-funded infrastructure projects

[TaiShang]

COLOMBO -- Sri Lanka's reputation is taking a hit after its year-old government says it wants to pull the plug on two multimillion dollar infrastructure projects funded by Japan and guaranteed by its predecessor. If that happens, it would be the second time that a newly elected Sri Lankan government has backed out of such agreements.

Sri Lanka to scrap Japan-funded infrastructure projects

Some see pivot toward Beijing, even though Chinese loans are more expensive

asia.nikkei.com

**

Apparently, there's risks involved in development projects.

So what happens here is anticipated and normal.

This is not what caught my attention.

What's interesting here is the language Nikkei uses. Blames SL.

It would probably use a different language if it were China-led development project.

 

[Quibbler]

Unlike China this is simple economic cooperation. Not China pushing its geo political agenda, using debt traps, political bribery, secret agreements and coercion. Hence no backlash. Get it ?

 

[Beidou2020]

Unlike China this is simple economic cooperation. Not China pushing its geo political agenda, using debt traps, political bribery, secret agreements and coercion. Hence no backlash. Get it ?

No. I don’t get it because I don’t fall for Western and Indian propaganda.

 

[TaiShang]

Unlike China this is simple economic cooperation. Not China pushing its geo political agenda, using debt traps, political bribery, secret agreements and coercion. Hence no backlash. Get it ?

Japan has a very clear geopolitical agenda, as well, since the 1950s. Their investment is always geopolitical, which is normal.

AIIB uses the same standards as ADB. China is only as much debt trap as Japan.

Want to see real debt trap? Ask countries like Indonesia or Mexico who had to borrow from IMF or Western banks - and the attached structural adjustment conditions.

 

[Dark1]

Japan has a very clear geopolitical agenda, as well, since the 1950s. Their investment is always geopolitical, which is normal.

AIIB uses the same standards as ADB. China is only as much debt trap as Japan.

Want to see real debt trap? Ask countries like Indonesia or Mexico who had to borrow from IMF or Western banks - and the attached structural adjustment conditions.

In 91, India also made structural adjustments under IMF conditions. Didn't turn out badly for us. IMF is not the enemy, its not perfect but it does have good experience.
And IMF will never ask for sovereign land in lieu of loans.

 

[Indos]

In 91, India also made structural adjustments under IMF conditions. Didn't turn out badly for us. IMF is not the enemy, its not perfect but it does have good experience.
And IMF will never ask for sovereign land in lieu of loans.

Indonesia never ask any loan anymore from IMF and we have paid all the loan in 2006

Press Release: IMF Welcomes Indonesia's Decision to Repay Early its Outstanding Obligations to the IMF

www.imf.org

IMF has bad intention over Indonesia as they dont allow gov to fund N 250 and N 2130 program under Indonesian Aerospace despite we are under huge crisis and those program haven finished yet.

Now, we can see how USA helped Boeing during this difficult situation. I would say double standard, but I would say they may act differently to India than to Indonesia (Muslim countries).

Indonesia now get loan from financial market (bond market) without any string attach since it is a commercial market.

https://www.washingtonpost.com/business/2020/03/25/boeing-bailout-coronavirus/

 

[Beast]

Unlike China this is simple economic cooperation. Not China pushing its geo political agenda, using debt traps, political bribery, secret agreements and coercion. Hence no backlash. Get it ?

Self delusion.

Indonesia never ask any loan anymore from IMF and we have paid all the loan in 2006

Press Release: IMF Welcomes Indonesia's Decision to Repay Early its Outstanding Obligations to the IMF

www.imf.org

IMF has bad intention over Indonesia as they dont allow gov to fund N 250 and N 2130 program under Indonesian Aerospace despite we are under huge crisis and those program haven finished yet.

Now, we can see how USA helped Boeing during this difficult situation. I would say double standard, but I would say they may act differently to India than to Indonesia (Muslim countries).

Indonesia now get loan from financial market (bond market) without any string attach since it is a commercial market.

https://www.washingtonpost.com/business/2020/03/25/boeing-bailout-coronavirus/

Well said. Big slap on Indian delusionist. @Dark1

 

[Dark1]

Indonesia never ask any loan anymore from IMF and we have paid all the loan in 2006

Press Release: IMF Welcomes Indonesia's Decision to Repay Early its Outstanding Obligations to the IMF

www.imf.org

IMF has bad intention over Indonesia as they dont allow gov to fund N 250 and N 2130 program under Indonesian Aerospace despite we are under huge crisis and those program haven finished yet.

Now, we can see how USA helped Boeing during this difficult situation. I would say double standard, but I would say they may act differently to India than to Indonesia (Muslim countries).

Indonesia now get loan from financial market (bond market) without any string attach since it is a commercial market.

https://www.washingtonpost.com/business/2020/03/25/boeing-bailout-coronavirus/

India had to pledge its gold reserves to imf , physically transferred to uk , for the imf help , but we were dead against defaulting. The Americans were anti India in 91 and the Russians were under the thumb of the Americans at that time.
Not always about religion.
But India needed the reforms and we are now the 6th largest economy. In 1990 we were 14th .

 

[TaiShang]

In 91, India also made structural adjustments under IMF conditions. Didn't turn out badly for us. IMF is not the enemy, its not perfect but it does have good experience.
And IMF will never ask for sovereign land in lieu of loans.

That's !ndia's luck. Thanks to that, your economic growth is deficit-based and debt-driven.
In East Asia, especially with the experience of 1997 Financial Crisis, we learned not to trust predatory US-controlled banks and financial institutions.

We have sovereign control. We have regional CMIM.

Definitely, those banks do not put a gun on your head, but, nonetheless, they are not only debt-traps, but also sovereignty traps.

 

[Uguduwa]

Sri Lanka is such a joke. I am embarrassed to be born there. At this point, I would say let China take it. I don't care anymore. For China it must be like buying a 65,610 km² farm with 21 million cows.