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On this independence day, I'd like to tell a story of a country in economic crisis and why, despite everything, I'm still cautiously hopeful for the long term of Sri Lanka.
#SriLanka #lka #SriLankaIndependenceDay #EconomicCrisisLK
#SriLanka #lka #SriLankaIndependenceDay #EconomicCrisisLK
After years of borrowing that led to an unsustainable situation, an external moment triggered a huge economic crisis in the country, possibly the worst in modern history.
The exchange rate skyrocketed, inflation rose to very high levels before falling, interest rates shot up to unexpectedly high levels. There were huge shortages across the country, especially of food and medicine in the poorer parts of the country.
