Sri Lanka Crisis – Unravelling of the Freebie Economy
Introduction Violent protests, a debt-ridden economy, devaluation of the currency, diminishing forex reserves, rising inflation, a President who fled the country, and residents facing a bleak future – this is Sri Lanka today. With inflation reaching 54.6%, the country owes more than $51 billion (£39 billion) to foreign lenders and is plunging farther into economic …
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