Sri Lankan President Anura Kumara Dissanayake (C). AFP File Photo
Sri Lankan President Anura Kumara Dissanayake is set to travel to India on Sunday for talks with Prime Minister Narendra Modi, marking his inaugural overseas visit as the head of state, according to the government's announcement on Tuesday.
Traditionally, leaders of the island nation choose to visit regional powerhouse India first, as it competes intensely with China for influence in the Indian Ocean. Dissanayake will spend three days in India, meeting with Modi and several other officials, as stated by Information Minister Nalinda Jayatissa.
Dissanayake, a leftist, assumed power in September with a promise to combat corruption. His grip on power strengthened further after his party secured a landslide victory in last month's snap parliamentary elections. New Delhi has expressed concern over Beijing's increasing foothold in Sri Lanka, which it considers part of its geopolitical sphere of influence.
India has ramped up its infrastructure projects in Sri Lanka in recent years, but China remains the largest bilateral lender to the country. Chinese bank loans have funded substantial infrastructure projects, some of which have turned out to be economically unviable. Dissanayake is expected to visit Beijing for talks with Chinese leaders in the coming month, as previously announced by the government.
Sri Lanka faced its most severe financial crisis in 2022, running out of foreign exchange to cover essential imports like food, fuel, and medicines, leading to a default on its $46 billion foreign debt. At the time of default, China was Sri Lanka's largest single lender, accounting for over half of the island's $13.8 billion bilateral debt. India ranks third with 12% of the debt, while Japan holds the second position with 19.5%.
Source link: https://www.khaleejtimes.com
