Cash-strapped Sri Lanka eyes China development

COLOMBO, Sept 18 (AFP): Sri Lanka's economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday's presidential election are banking on at least one of them to buck the trend.

The strategically located Indian Ocean country suffered its worst financial meltdown in 2022, when it ran out of dollars to import essentials, sparking street protests that toppled the then-president Gotabaya Rajapaksa.

When the island nation plunged into chaos, CIA chief Bill Burns blamed its economic collapse on what he called "dumb bets" on Chinese-funded projects.