Golez: Malaysian assemblywoman warns about China loans, debt trap: "Learn from Sri Lanka's mega Chinese debt fiasco"

Golez: Malaysian assemblywoman warns about China loans, debt trap:
"Learn from Sri Lanka's mega Chinese debt fiasco" "Instead of investing in education and health care, Sri Lanka spends most of its revenue now to pay off the debts to China that was used to finance the now underutilised mega infrastructure, from port to airport" INQUIRER.net philstar.com MANILA BULLETIN DZRH CMN ABS-CBN ANC 24/7

https://t.co/huttgO5ZyA

From the article:

"Citing the huge debts incurred by Sri Lanka after taking in money from China to fund underutilised mega infrastructure, Yeo said there are chances that reckless mega infrastructure constructions will send Malaysia into a deep debt trap.

"Instead of investing in education and health care, Sri Lanka spends most of its revenue now to pay off the debts to China that was used to finance the now underutilised mega infrastructure, from port to airport.

"Sri Lanka has a new airport that is called the world’s emptiest airport. The Mattala Rajapaksa International Airport only handles a few flights a day."

Learn from Sri Lanka's mega Chinese debt fiasco, says DAP rep

•  megadebt
•  ecrl

 18 comments     Published 21 Jul 2017, 12:06 pm     Updated 21 Jul 2017, 12:49 pm

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Malaysia must learn from Sri Lanka's experience before it is too late, and ensure the feasibility of all mega projects are thoroughly studied and they are awarded through open tender, said DAP's Damansara Utama assemblyperson Yeo Bee Yin today.

Citing the huge debts incurred by Sri Lanka after taking in money from China to fund underutilised mega infrastructure, Yeo said there are chances that reckless mega infrastructure constructions will send Malaysia into a deep debt trap.

"Instead of investing in education and health care, Sri Lanka spends most of its revenue now to pay off the debts to China that was used to finance the now underutilised mega infrastructure, from port to airport.

Sri Lanka has a new airport that is called the world’s emptiest airport. The Mattala Rajapaksa International Airport only handles a few flights a day