What is a currency crisis
Japanese bank Nomura has recently warned that seven countries – Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary – are now at high...
Restructuring Sri Lanka’s Debt
There is no doubt that International Monetary Fund (IMF) loans often come with a set of conditionalities that most countries find unfavourable to implement. With...
Sri Lankan Banking Sector Under Pressure Amid Nationwide Crisis
It has been perhaps the worst year ever for Sri Lanka’s economy, with the South Asian island nation having missed crucial debt-repayment deadlines, thus being...
The perils of inherited fallacies and economic mismanagement
Sri Lanka’s human development and socioeconomic indicators have always been ahead of its South Asian neighbours. Since the end of the civil war in 2009,...
Meltdown exposes China loan policy
China's economic stakes in Sri Lanka are in focus as the bankrupt South Asian nation scrapes the last of its usable foreign reserves. By late April...
The making and masking of Sri Lanka’s debt crisis
Sri Lanka is in the grips of its worst economic crisis since independence. Behind recent headlines, the COVID-19 pandemic has exposed structural problems that were...
Sri Lanka’s Sovereign Bond Debt Trap
In Cherry Blossom lined Washington DC in the glare of global media April 18-23 Sri Lanka became the poster child of the International Monetary Fund’s...
Sri Lanka could be the first of many emerging market economies to collapse
Sri Lanka is a country which has lived through multiple catastrophes since winning its independence from Britain in 1948. Most calamitously, there were three decades...
Sri Lanka’s relationship with the IMF
As Sri Lanka descends into economic despair, only two options are open to it: Either seek further assistance from the IMF or seek loans from...
War in Ukraine is crushing Sri Lanka’s economy
Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more...
Sri Lanka seeks IMF bailout
President Gotabaya Rajapaksa has called on Sri Lankans to use fuel and electricity sparingly. But citizens blame his government for the country's worst economic crisis...
IMF Concludes 2021 Consultation with Sri Lanka
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Sri Lanka on February 25, 2022. Sri Lanka has been...
Shocks and missteps
In late November 2019, after winning Sri Lanka's presidential election and months ahead of a parliamentary ballot that would again test his popularity, Gotabaya Rajapaksa...
Foreign reserves fall
Sri Lanka’s official external reserves fell to US$ 2.36 billion by the end of January 2022 from US$ 3.14 billion by the end of December...
What’s in store?
They announce every few days how many days they can supply fuel and electricity, leaving people in constant uncertainly of their future. The Ministers do...