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.
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
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