COLOMBO -- Even as Sri Lanka teeters on the brink of bankruptcy, the government is determined to pay foreign creditors and delay a return to global capital markets as part of a strategy to uphold the South Asian nation's financial responsibilities, despite dwindling foreign currency reserves.
This resolve has opened a fresh chapter in Sri Lanka's debt-diplomacy, paving the way for India to step in with offers of multibillion dollar financial relief. New Delhi's largesse counters geopolitical rival China's long-held position as Sri Lanka's lender of last resort.
