The economic crisis in Sri Lanka led to riots that caused the former president to flee. Bangladesh's finance minister says China should have been more careful with the Belt and Road loans it gave to Colombo, as they were a factor in the country's collapse. File photo: AFP.
The finance minister of Bangladesh, Mustafa Kamal, says developing countries should “think twice” before taking more loans through China’s Belt and Road scheme given global inflation, slowing growth and the economic crisis in Sri Lanka, according to a report by the Financial Times, which quoted him saying “Everybody is blaming China. [And] China cannot disagree. It’s their responsibility.”
Kamal said the crisis in Sri Lanka showed China should have undertaken “a thorough study” of the projects involved before lending, the report said. “After Sri Lanka . . . we felt that Chinese authorities are not taking care of this particular aspect, which is very, very important,” he was quoted as saying.
Read the full report: The Financial Times.
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