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No_Reaction_2682 t1_jednhym wrote

Reply to comment by xMercurex in China calls US debt trap accusation 'irresponsible' by BubsyFanboy

Didn't Sri Lanka got a loan from China to pay off the debt already owed to the IMF?

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Absolut_Unit t1_jee0yal wrote

Maybe we're talking about 2 different things, but the money gained from leasing out their port to a Chinese company was used to pay off international sovereign bonds, which have very high interest rates and make up the majority of Sri Lanka's debt servicing obligations.

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