Showing posts with the label collapse

Sri Lanka, the first Asian country to become the victim of China’s debt trap - Warning signs for PNG

Editor’s note: All Pacific nations need to read this story and heed the warning before it is too late. One of you could be next. SRI Lanka has been crippled under a severe debt problem.

In the last decade, it has invested billions of dollars in building huge infrastructure and most of the projects haven’t yet produced any adequate returns. Sri Lankan Government is now struggling to make payments and hence facing a severe debt crunch.

Sri Lanka’s total debt stands at $64bn. About a whopping 95 per cent of all government revenues go towards debt repayment. The debt to China is eight billion dollars. Many local citizens feel the country is being sold to the Chinese.

The problem is that money borrowed has been seemingly squandered on infrastructure that shows no sign of turning a profit, which is even more damaging for the Sri Lankan economy.
Sri Lanka availed easy loans from China in order to build infrastructure across the nation. China offers easy loans t…


There was always something a little strange about the collapsing kin. First we were told by Peter O'Neill and his corrupt cronies Marape and Pruaitch that the kina wasn't going down or that the slide was only temporary. But as we saw days of kina sliding turned into weeks and weeks turned into months, that lie no longer worked.

Today we have a clear graphical record of a slide in the kina that began nearly from the moment that Peter O'Neill was re-elected and took office again and has continued up to now. The Masters of Deception now admit this is the case but say that they've got everything under control. Most certainly not. If you look at the rate at which the kina has been declining against the US dollar in recent weeks you can see that the slide started becoming steeper than it was before. The Masters of Deception can lie all they want but the bare facts don't lie.

An outright collapse of the kina to God knows what low levels is being prevented r…