{"id":157266,"date":"2021-12-30T19:26:29","date_gmt":"2021-12-30T13:56:29","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=157266"},"modified":"2021-12-30T19:26:29","modified_gmt":"2021-12-30T13:56:29","slug":"joint-development-of-oil-tank-farm-by-india-lanka-could-alter-dynamic-of-delhi-beijing-rivalry","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/joint-development-of-oil-tank-farm-by-india-lanka-could-alter-dynamic-of-delhi-beijing-rivalry\/","title":{"rendered":"Joint development of oil tank farm by India, Lanka could alter dynamic of Delhi-Beijing rivalry"},"content":{"rendered":"\n<p><strong>News: <\/strong>Sri Lanka\u2019s energy minister has said the India-Lanka development of the strategic Trincomalee oil tank farm will be finalised in January<strong>.<\/strong><\/p>\n<p><strong>What are the reasons for the recent economic crisis in Srilanka?<\/strong><\/p>\n<p><strong>The Easter killings of 2019: \u00a0<\/strong>it dealt a hammer blow to the country\u2019s tourism industry, its main economic activity and source of revenue.<\/p>\n<p><strong>Dwindling foreign exchange earnings: <\/strong>it has led to restriction on imports, which in turn has led to shortages of food essentials.<\/p>\n<p><strong>High Retail inflation: <\/strong>it has led to skyrocketing of food prices<strong>.<\/strong><\/p>\n<p><strong>An overnight switch to organic farming by government: <\/strong>it has threatened Sri Lanka\u2019s main export, the paddy and tea.<\/p>\n<p><strong>High External debt. <\/strong>In 2022, the country reportedly had to pay some $4.5 bn to service its sovereign bonds. Nearly half of Sri Lanka\u2019s external debt is owed to international capital markets, and slightly below a quarter to international banks<strong>.<\/strong><\/p>\n<p><strong>Lack of support from IMF<\/strong>: Sri Lanka has exited the IMF programme in 2019 because of the tough conditions, and is reluctant to approach the Fund again.<\/p>\n<p><strong>How India is supporting Srilanka ? : Read here : <a href=\"https:\/\/forumias.com\/blog\/india-finalises-cooperation-plan-to-revive-covid-hit-sri-lanka-economy\/\">https:\/\/forumias.com\/blog\/india-finalises-cooperation-plan-to-revive-covid-hit-sri-lanka-economy\/<\/a> <\/strong><\/p>\n<p><strong>Source:<\/strong> This post is based on the article \u201c<strong>Joint development of oil tank farm by India, Lanka could alter dynamic of Delhi-Beijing rivalry\u201d<\/strong> published in <strong>Indian Express<\/strong> on 30<sup>th<\/sup> <strong>Dec<\/strong> 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: Sri Lanka\u2019s energy minister has said the India-Lanka development of the strategic Trincomalee oil tank farm will be finalised in January. What are the reasons for the recent economic crisis in Srilanka? The Easter killings of 2019: \u00a0it dealt a hammer blow to the country\u2019s tourism industry, its main economic activity and source of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/joint-development-of-oil-tank-farm-by-india-lanka-could-alter-dynamic-of-delhi-beijing-rivalry\/\">Continue reading <span class=\"screen-reader-text\">Joint development of oil tank farm by India, Lanka could alter dynamic of Delhi-Beijing rivalry<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10500],"class_list":["post-157266","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704792821},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/157266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=157266"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/157266\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=157266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=157266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=157266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}