Srilankan Economic Crisis

Sri Lanka’s economy was already showing signs of weakness before the COVID-19 pandemic. Growth and poverty reduction had slowed down in last five years. A restrictive trade regime, weak investment climate, episodes loose monetary policy an administered exchange rate contributed to external imbalances. Sustained fiscal disparities, driven primarily by low revenue collections, combined with tax cuts 2019, has high deficits, large gross financing needs, a rapid growth unsustainable debt . The Lankan economic crisis is ongoing island country Lanka that started 2019. It country's worst since its independence 1948. led unprecedented levels inflation, near-depletion foreign reserves, shortages medical supplies, increase prices basic commodities