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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Sri Lanka has been struggling with an economic crisis since declaring bankruptcy in April 2022 with more than $83 billion in debt, more than half of it to foreign creditors.
The winner will have to ensure Sri Lanka sticks with the IMF programme until 2027 to get its economy on a stable growth path, reassure markets, attract investors and help a quarter of its people ...
Sri Lanka's year-on-year economic expansion in the third quarter of 2023 was 1.6% and in the fourth quarter 4.5%, the IMF said. Sri Lanka plunged into its worst economic crisis in early 2022 ...
The mixed economy of Sri Lanka was worth 27.60 LKR trillion ($84 billion) by gross domestic product (GDP) in 2023 [32] and $318 billion by purchasing power parity (PPP). [33] The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers.
The 2022 Sri Lankan political crisis was a political crisis in Sri Lanka due to the power struggle between President Gotabaya Rajapaksa and the people of Sri Lanka. It was fueled by the anti-government protests and demonstrations by the public due to the economic crisis in the country.
But there is also a major debate happening about the economic trajectory,” Devaka Gunawardena, a political economist who is a research fellow at the Social Scientists’ Association in Sri Lanka ...
Sri Lanka has been grappling with an unprecedented economic crisis since 2022, after suspending repayment of foreign loans because of a severe foreign currency crisis triggered by the COVID-19 ...