Page 49 - Debt Trap News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Debt trap. that the rising costs of college frankly the lowering return on that education, you know, the idea that college education, you go get it no matter what. i mean, when i was growing up, poor family, i couldn't afford it, so, you know, i had to borrow money and find ways to pay it. but college was so much more affordable in the '80s when i went than it is now. the costs are off the charts. and i don't think that we did a good job of explaining to young people how those economics were changing. those people need help. they deserve some form of relief. and we have some programs in place ...

As Sri Lanka faces one of the worst economic crises, China has been widely criticized for pushing the Sri Lankan economy into its 'debt trap' and for predatory behaviour such as leasing out the port of Hambantota for 99 years.

The Jakarta-Bandung project has seen a cost increase of nearly $2 billion, officials say.

Asanga Abeyagoonasekera, a geo-political analyst from Sri Lanka, said that China's loan model to Sri Lanka is ambiguous while no one knows the interest rate charged by Beijing for the money lent to the island nation.

While Sri Lanka faces its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts, many believe that China's debt-trap diplomacy is behind the crisis, said a media report.