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International relations

Sri Lanka piles on more Chinese loans amid virus and debt crisis

Despite $4.8bn due this year, Rajapaksa reportedly agrees $1bn in new loans

During the presidency of Mahinda Rajapaksa, left, Sri Lanka borrowed heavily from China for infrastructure. Younger brother Gotabaya, right, has adopted a similar strategy.   © Reuters

COLOMBO -- Saddled with heavy debts, and facing a financial crisis brought on by the coronavirus, Sri Lanka appears to be doubling down: piling on more Chinese debt despite having to pay millions of dollars this year to service its current obligations.

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