A note on Sri Lanka's Economic Crisis
Wealth Catalyst
Feb 2
Sri Lanka is having a debt of $35B and only $1.6B to pay it. Why do they face an economic crisis? Pandemic has hit really hard to them which has caused all the trouble for themTourism which contributes 10% of GDP was completely stopped due to the lockdownFood inflation has hit 21.5% which lead to the majority of the population pushing below the poverty line.External debt repayment will exhaust their foreign exchange reserveThe debt repayment due this year is more than $6B whereas the foreign ...
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