ECOSOC discusses Sri Lanka's lack of economic growth

By Grishma Thapa and Shreya Tiwari for TES News

Kathmandu, 24 August

The ECOSOC committee focused its discussion on the pressing issue of the global economic state. A moderated discussion was proposed on the topic "Sri Lanka in economics'' with the chair’s announcement.

Initiating the topic, the delegate from Sri Lanka claimed, "The COVID-19 caused a crisis in Sri Lanka, causing great destruction and loss. The pandemic has left real scars on Sri Lanka’s economic state. Sri Lanka is in great debt because of me. " The delegate, moreover, added that China might want to take over Sri Lanka.

To this, the delegate of Afghanistan asked, "What is the reason for blaming China when China has no financial issues and it would do no profit to China if they take over Sri Lanka?"

The delegate of China added to this by saying how China has helped Sri Lanka in the past few years and has also provided Sri Lanka with financial support.

Meanwhile, the delegate of Sri Lanka said, "Yes, China has no financial issues and can easily frame any country."

"In response to Sri Lanka’s financial crisis, China employed devious ‘debt trap diplomacy to gain a strategic edge over the nation and hold the economy hostage. The delegate of China claimed that China is now the second largest lender to Sri Lanka, holding more than ten percent of Sri Lanka’s outstanding foreign debt in 2019.” the delegate of China claimed.

Due to the lack of time, the committee had to end the moderated causes. The committee chair stated that the committee would resume its proceedings by 9 am in the next session.