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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 grappling with significant economic challenges, including high levels of external debt and a strained fiscal situation. The COVID-19 pandemic further exacerbated these issues, leading to reduced revenues, increased borrowing, and a decline in foreign exchange reserves. As a result, the government has been facing difficulties ...
Whoever wins the election will have to ensure Sri Lanka gets its economy on a sustainable and inclusive growth path, reassure local and international markets, attract investors and help a quarter of t
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
ANAMADUWA, Sri Lanka (Reuters) - H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's ...
Similarly, Sri Lanka's current account balance briefly improved, but as of 2022, returned to exhibiting a large deficit. [ 8 ] As per the IMF's statement, India has firmly pledged its commitment to aiding its distressed neighbor, Sri Lanka, in reducing its debt burden through a potential International Monetary Fund-backed initiative.
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 .
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