Airport without planes, debt-laden seaport: China-backed projects testament to Sri Lanka's mismanagement
The centrepiece of the infrastructure drive was a deep seaport on the world's busiest east-west shipping lane, which was meant to spur industrial activity. Instead, it has haemorrhaged money.
In an analytical piece, Global Strat View on Sunday said Sri Lanka's financial crisis is leading to a humanitarian crisis that could ultimately push the country into bankruptcy.
Sri Lanka's Justice Minister Wijeyadasa Rajapakshe is facing the wrath of the Cabinet members after he opposed a recently signed deal with China on the strategic Hambantota port.
The deal had been delayed by several months over concerns that the deep-sea port could be used by the Chinese navy.
Sri Lanka's Cabinet on July 25 approved the sale to a Chinese firm of a 70 per cent stake in the Hambantota port, tweaking the deal after the initial agreement sparked protests.