They 9ver borrowed from China.
"The president of debt-ridden Sri Lanka has asked China for the restructuring of its loans and access to preferential credit for imports of essential goods, as the island nation struggles in the throes of its worst economic crisis"
China Turns Its Back On Sri Lanka Economic Crisis
"Colombo [Sri Lanka], March 23 (ANI): China refused to assist Sri Lanka which appealed to reschedule its huge Chinese debt burden in the face of the Covid-19 outbreak that has adversely affected the tourism sector, said a media report."