Sri Lanka is witnessing the following: record-high inflation, unprecedented rise in poverty, mounting debt, draining foreign reserves and food shortages, ALL of which have unfortunately led the country down the path of a possible sovereign default.
The country declared an economic emergency in September 2021. Last week it asked China, one of its largest lenders, to restructure its debt payments.
How did things get so bad for the island nation? And how could this affect India?
Click on the link below to read.
https://transfin.in/decoding-sri-lankas-financial-crisis
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