Geopolitics

Sri Lanka's Economic Recovery Underscores the Geopolitics of Debt - IR Insider

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DW NOTE

Sri Lanka defaulted on $51 billion in 2022, restructured with China holding 52% of bilateral debt, and now posts 4.7% GDP growth. The IMF calls it a model. The model is: default, wait, accept terms written in Beijing, grow on the same external funding structure that produced the default. Nothing was fixed; the creditor just changed.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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