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Most read in 2018

Sri Lanka's currency suffers as debt trap deepens

China-financed infrastructure projects put country in vicious cycle

With his country's currency having lost nearly 20% of its value against the dollar since 2015, Sri Lankan Prime Minister Ranil Wickremesinghe visits a Chinese-funded reclamation project in Colombo in January.   © Getty Images
YUJI KURONUMA, Nikkei staff writer | Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan

NEW DELHI -- Sri Lanka, which has loaded up on Chinese-funded infrastructure, is sinking deeper into a debt trap as its currency weakens and economic growth decelerates to its slowest pace in 16 years.

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