https:\/\/www.reuters.com\/world\/asia-pacific\/exclusive-sri-lanka-seeks-additional-1-billion-credit-line-india-sources-2022-03-28\/
\tSri Lanka is in a critical financial crisis currently because of a 70% drop of foreign exchange reserves. Fuel prices have skyrocketed, food prices are through the roof and the country is protesting. In reaction to this Sri Lanka has pleaded to India for an additional 1.5 billion dollar credit line. A previous 1 billion dollar credit line was given to Sri Lanka to pay for critical imports. In exchange for the credit line India wants imported goods like rice, oil, wheat flour, etc. Sri Lanka has also been looking to China for another 3 billion dollar credit line. Sri Lanka has to repay a 4 billion dollar credit line with an additional 1 billion dollar international sovereign bond by the end of the year.\t
\tSri Lanka will be incapable of paying this debt off unless they are able to make some serious changes within their imports and exports between India and China. The task almost seems impossible with the minimal amount of natural resources that Sri Lanka is in possession of and the struggling workforce that Sri Lanka currently has. If Sri Lanka wants to be able to pay off the debt they need to look for India\u2019s continuing support instead of China. And If they somehow pull off the repayment of this debt it will remake them as a stable country once again.
\tThis relates to class because it shows a country’s government slowly coming into collapse and what the country is doing in order to prevent that collapse. In this case it would be Sri Lanka pleading for credit reimbursement from India and China in order to start up their economy to be able to repay the debt that they owe. It also relates to class because it shows how relations between a country and another country can affect the relationship of another country. This is seen with India becoming hesitant to work with Sri Lanka the closer they get to China.
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https:\/\/www.reuters.com\/world\/asia-pacific\/exclusive-sri-lanka-seeks-additional-1-billion-credit-line-india-sources-2022-03-28\/ Sri Lanka is in a critical financial crisis currently because of a 70% drop of foreign exchange reserves. Fuel prices have skyrocketed, food prices are through the roof and the country is protesting. In reaction to this Sri Lanka has pleaded to India for an additional 1.5 billion dollar credit line. A previous 1 billion dollar credit line was… Read more »<\/a><\/p>\n","protected":false},"author":217,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4946","post","type-post","status-publish","format-standard","hentry","category-analysis-post"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/comments?post=4946"}],"version-history":[{"count":2,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4946\/revisions"}],"predecessor-version":[{"id":4952,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/4946\/revisions\/4952"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/media?parent=4946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/categories?post=4946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/tags?post=4946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}