Sri Lanka Economy Collapses Under CCP’s One Belt One Road Initiatives

The Prime Minister of Sri Lanka Ranil Wickremesinghe announced in the Parliament on Wednesday that the country can no longer afford to import food, fuel, medicines and other necessities as the country faced a debt crisis. “Our economy has completely collapsed,” he said.

The cash-strapped Sri Lanka is currently unable to import oil to alleviate the shortage of fuel. It is because the state-owned Ceylon Petroleum Corporation has $700 million in debt, no country or organization in the world is willing to supply fuel to Sri Lanka.

Apart from Sri Lanka’s fuel crisis, the United Nations warned that the country is also facing a full-blown humanitarian emergency. Four-fifths of its population are currently starving, and millions more are in dire need of assistance.

Being a diehard fan of the Chinese Communist Party (CCP) and one of the One Belt One Road allies, Sri Lanka is now facing economic crisis as well as humanitarian crisis.

To get to the bottom of Sri Lanka’s current debt crisis, we have to look at the CCP’s One Belt One Road initiative. Under the guise of economic cooperation, CCP has profited from the financial crisis of these small countries, causing their economies and livelihoods to collapse.