![Anti-government protest in Sri Lanka on April 13 in front of the Presidential Secretariat / credit: AntanO / Wikipedia](https://towardfreedom.org/wp-content/uploads/2022/07/Anti-government_protest_in_Sri_Lanka_2022-326x245.jpg)
Real Debt Trap: Sri Lanka Owes Vast Majority to West, Not to China
Sri Lanka owes 81 percent of its external debt to U.S. and European financial institutions and to Western allies, Japan and India. China owns just 10 percent. But Washington blames imaginary “Chinese debt traps” for the nation’s crisis, as it considers a 17th IMF structural adjustment program, reports Benjamin Norton.