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Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...
The list of sovereign debt crises involves the inability of independent countries to meet its liabilities as they become due. These include: A sovereign default, where a government suspends debt repayments; A debt restructuring plan, where the government agrees with other countries, or unilaterally reduces its debt repayments
On 14 November 2023, following a case filed by Transparency International Sri Lanka (TISL) and other four activists, the Supreme Court of Sri Lanka found Rajapaksa, his brothers Mahinda and Basil and several other officials guilty of economic mismanagement between 2019 and 2022, stating that the respondents breached the fundamental rights to ...
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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]
The Sri Lankan Constitution of 1972 was a constitution of Sri Lanka, replaced by the 1978 constitution currently in force. It was Sri Lanka's first republican constitution, and its second since independence in 1948. The constitution changed the country's name from Ceylon to Sri Lanka, and established it as an independent republic.
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