The Sri Lankan government turned to the IMF for a near $3 billion bailout to repay loans provided by India and Japan, as well as international sovereign bonds issued by foreign creditors such as BlackRock. Dr. Asoka Bandarage, sociologist and author of Crisis in Sri Lanka and the World, suggests that Prime Minister Rajapaksa's declaration of bankruptcy in 2022 and the subsequent IMF bailout under Prime Minister Wickremesinghe was not an absolute necessity, but an attempt to shift Sri Lanka further under the umbrella of Western and Indian institutions, and away from Chinese loans. Please donate at https://theanalysis.news/donate/ - we can't do this without you. Debt and Climate Crisis in Sri Lanka and the World - Asoka Bandarage: https://youtu.be/zltLv51nLik Come visit us at https://theanalysis.news Sign up for our newsletter: https://theanalysis.news/newsletter/ Like us on Facebook: https://www.facebook.com/TheAnalysisnews-111882350255869 Follow us on: Twitter: https://twitter.com/paul__jay?lang=en Instagram: https://www.instagram.com/theanalysis.news/ Linkedin: https://www.linkedin.com/company/theanalysis-news #PaulJay #theanalysis #srilanka #economy
