Strong support from India at the IMF board and the need to match China’s growing clout in the island nation have resulted in the US giving up its opposition to the international funding agency’s extending a $2.5 billion standby facility to Sri Lanka.
On May 14, at the height of the war against the separatist Tamil Tigers, Secretary of State Hillary Clinton had said that it was not appropriate for the IMF to give a loan to
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The paper pointed out that it was when the West was putting heavy pressure on
This railway would help build up the hinterland of the Chinese-built mega port at Humbantota in the deep south of the island.
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