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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]
In 2022, Sri Lanka faced a severe economic crisis, characterized by high inflation, and political instability. [36] However, the country stabilized faster than expected in 2023 due to key economic reforms and fiscal discipline. By 2024, Sri Lanka re-entered the path of economic growth, with a renewed focus on sustainable development. [37]
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 .
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 ...
Sri Lanka sank into a financial crisis after the COVID-19 pandemic decimated tourism and remittances from citizens working abroad fell. The war in Ukraine pushed prices for imports, particularly ...
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.
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Atlantic Council GeoEconomics Director Josh Lipsky joins Yahoo Finance Live to discuss what led to recent protests and the economic collapse in Sri Lanka as well as what it means for other ...