What dangers of unviable debt and projects were raised by Jaishankar at the Indian Ocean conference in Colombo
During the Indian Ocean conference in Colombo, Jaishankar raised the dangers of unviable debt and projects.
- Jaishankar highlighted the dangers of unviable debt, referring to the risks associated with countries taking on excessive debt that they are unable to repay. This could lead to financial instability and potential economic crises.
- He emphasized the need for responsible borrowing, ensuring that countries are able to sustainably manage their debt burdens and avoid falling into a debt trap.
- Jaishankar also raised concerns about unviable projects, referring to infrastructure projects that may not yield sufficient returns or generate enough economic benefits to justify the amount of money invested.
- He stressed the importance of conducting thorough feasibility studies and cost-benefit analyses to determine the viability and economic feasibility of projects before investing in them.
- Unviable projects can result in significant financial losses, waste of resources, and decreased economic growth for countries involved.
- Jaishankar urged countries to scrutinize potential investments carefully, assessing not only the short-term gains but also the long-term sustainability and benefits to the overall economy.
- He called for increased transparency and accountability to ensure that funding and investment decisions are based on sound economic principles and offer mutual benefits for all parties involved.
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