The crunch opens a window for India to push back against Chinese influence in the Indian Ocean region

China is lending money to Sri Lanka for a $13 billion seafront business hub in the capital, Colombo, among other infrastructure projects.



Photo:

Atul Loke/Bloomberg News

A deepening debt crisis has left Sri Lanka struggling to pay for imports and stoked political controversy over Chinese lending to the South Asian nation as part of Beijing’s global Belt and Road infrastructure program.

The crisis has also opened a window for India, which provided financial relief to Sri Lanka last week shortly before a $500 million bond matured, to push back against Chinese influence in the Indian Ocean region.

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