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Acrimony over Sri Lanka’s Colombo Port City will grow

Friday, June 4, 2021

Significance

Parliament passed a bill earlier in May authorising the president to form the commission after key amendments recommended by the Supreme Court were incorporated into the legislation. The Colombo Port City is a development that forms part of China’s Belt and Road Initiative.

Impacts

  • India will be wary of investing in the Colombo Port City.
  • Sri Lankan imports from China will increase, helped by a recently agreed bilateral currency swap.
  • The Rajapaksa government will remain popular with the country’s ethnic Sinhalese, Buddhist majority despite concerns about its China policy.

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