COLOMBO, Sri Lanka - The unfinished, purple-headed Lotus Tower soars uselessly into the Colombo sky, mired in corruption allegations -- a project typical of China's misadventures in Sri Lanka under a political dynasty that has just returned to power.On Monday Gotabaya Rajapaksa was sworn in as president, almost five years after his brother Mahinda's decade in charge ended in ignominy in 2015 as allegations of corruption and nepotism surfaced.
Some of the money was allocated under Beijing's gargantuan Belt and Road Initiative spanning Asia and beyond and aimed at facilitating trade. In December 2017, Sri Lanka was forced to hand the port over to China on a 99-year lease after failing to service a $1.4-billion debt from Beijing to build it. For the Rajapaksas, who together spearheaded the brutal crushing of Tamil separatists in 2009 -- with allegedly 40,000 civilians killed -- China also came in handy in other ways.
Many of the building projects, like the 350-meter Lotus Tower, have been accused of facilitating corruption. The Rajapaksas say they had to borrow from China because credit was hard to come by elsewhere, and Akhil Bery from think-tank Eurasia said that there is some truth to this.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sri Lanka chooses new President in first election since deadly bombingsSri Lanka's former defense secretary Gotabaya Rajapaksa has been elected as the country's new President, winning 52.2% of the vote, according to the chairman of Sri Lanka's Election Commission.
Source: CNN Philippines - 🏆 13. / 63 Read more »
'Terminator' Rajapaksa storms to victory in Sri Lanka electionGotabaya Rajapaksa is the younger brother of the charismatic but controversial ex-president Mahinda Rajapaksa
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Sri Lanka strongman Rajapaksa wins presidency by big marginSri Lanka’s former civil wartime defense chief Gotabaya Rajapaksa was declared the winner in the presidential election on Sunday, after promising to secure the country against militant threats following Easter bombings this year.
Source: manilabulletin - 🏆 25. / 51 Read more »
Blessed by Buddhist monks, Sri Lanka’s new president prioritizes securityANURADHAPURA - The winner of Sri Lanka’s presidential election, Gotabaya Rajapaksa made national security his top priority after being sworn in on Monday at an ancient temple in the north-central city of Anuradhapura where he received blessings from Buddhist monks.
Source: manilabulletin - 🏆 25. / 51 Read more »
Sri Lanka chooses new President in first election since deadly bombingsSri Lanka's former defense secretary Gotabaya Rajapaksa has been elected as the country's new President, winning 52.2% of the vote, according to the chairman of Sri Lanka's Election Commission.
Source: CNN Philippines - 🏆 13. / 63 Read more »
Blessed by Buddhist monks, Sri Lanka’s new president prioritizes securityANURADHAPURA - The winner of Sri Lanka’s presidential election, Gotabaya Rajapaksa made national security his top priority after being sworn in on Monday at an ancient temple in the north-central city of Anuradhapura where he received blessings from Buddhist monks.
Source: manilabulletin - 🏆 25. / 51 Read more »