What's happening in Sri Lanka and how did the economic crisis start?
- Written by R. Ramakumar, Professor of Economics, Tata Institute of Social Sciences
The island nation of Sri Lanka is in the midst of one of the worst economic crises it’s ever seen. It has just defaulted on its foreign debts for the first time since its independence, and the country’s 22 million people are facing crippling 12-hour power cuts, and an extreme scarcity of food, fuel and other essential items such as medi...