Chinese loans not a threat to Sri Lanka - Prime Minister Wickremesinghe

Premier Ranil Wickremesinghe speaking to international media on the sidelines of the World Economic Forum in Hanoi  insists the country was  not under "threat" from growing Sino-U.S. trade tensions.

The PM speaking to CNBC said  the country was gaining in  long term financial stability by diversifying its exports beyond tea and apparel and into higher-value goods and services.

Speaking further, Mr Wikremesinghe decried the report released by ratings agency Fitch earlier this month by stating that he did not believe that the sovereign bonds of the country were on the verge of a downgrade. The PM said he was in disagreement with the currency crisis report that was released by Japanese financial company Nomura Holdings Inc. The report noted that SL was running a risk of an Exchange-Rate Crisis.

“We are dealing with China. There are a fair amount of Chinese investments. There are China loans.I can’t see it as a threat.” commented Wickremesinghe.

Watch the video of the interview