How Sri Lanka ran out of foreign currency to pay for imports is a story of fiscal imprudence, unsustainable exchange rate policy and chronic mismanagement.
The writing was on the wall in Sri Lanka.
Arun Sankar/AFP via Getty Images
An expert on Sri Lanka’s economy identifies and explains three key challenges that Ranil Wickremesinghe will have to overcome if he hopes to steer the country out of its crisis.
The sun sets on Sri Lanka’s protest movement (for now).
Arun Sankar/AFP via Getty Images)
Protests over shortages forced the ouster of Sri Lanka’s president, but the crisis has deep-set roots in ethnonationalism, which has encouraged corruption, argues an expert on the country’s politics.
Massive price rises in Sri Lanka have led to protesters looking for economic and governmental change.
Sri Lankan students march during a protest over the economic crisis outside the residence of prime minister Mahinda Rajapaksa in Colombo, April 24, 2022.
AP Photo/Eranga Jayawardena