Showing posts with label Iromi Dharmawardhane. Show all posts
Showing posts with label Iromi Dharmawardhane. Show all posts

Saturday, 28 May 2016

Responding to Sri Lanka’s economic crisis (Iromi Dharmawardhane, East Asia Forum)

Sri Lankan President Maithripala Sirsena arrives in New Delhi, India. (Photo: AAP)

Sri Lanka’s balance of payments is in dire straits. The country’s mounting foreign and domestic public debt, a huge fiscal deficit and a severe foreign exchange shortfall have led to potentially calamitous economic circumstances. Sri Lanka has not yet secured the means to meet its upcoming foreign loan repayments — US$4.5 billion is due over the next year, to be followed by another US$4 billion in the subsequent year

http://www.eastasiaforum.org/2016/05/27/responding-to-sri-lankas-economic-crisis/