Global Analysis from the European Perspective. Preparing for the world of tomorrow

Hambantota: China Takes Control of Sri Lanka Port as Debt Payment

Sri Lanka has leased its strategic port of Hambantota to China for 99 years as a way to pay back some of the $8 billion it owes Chinese state-owned firms. Critics of the deal say Chinese control of the port could hurt India and Pakistan if current good relations between them ever sour, but Sri Lankan officials said the deal, valued at $1.1 billion, was necessary to ease its crushing debt load and get back on track with repayment. Source NewsMax

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