2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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China
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India
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Australia
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USA
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Detailed explanation-1: -In four months of 2022, India has provided a total of 968 million US Dollars in loans to Sri Lanka. China has been the largest bilateral lender to Sri Lanka for the past five years from 2017-2021.
Detailed explanation-2: -It remains uncertain whether China, Sri Lanka’s biggest bilateral creditor, will join the initiative launched by Japan.
Detailed explanation-3: -Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades.
Detailed explanation-4: -China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a $2.9 billion bailout package for the country, days after India strongly backed the island nation’s efforts to secure the loan from the global lender to recover from its worst-ever economic crisis.