Listen to Dr Indrajit Coomaraswamy, one of Sri Lanka’s most eminent economists who, as Governor of the country’s central bank from 2016 to 2019, watched the coming storm from a unique vantage. Dr Coomaraswamy will be speaking to Nirupama Subramanian of The Indian Express. #srilankacrisis#IndrajitCoomaraswamy#srilankaeconomiccrisis Sri Lanka has been devastated by an economic crisis. It has no money to buy anything from abroad. Millions can’t afford food because of inadequate supply and high prices. Inflation reached close to 70% in September, up 5 percentage points from August. A President has been driven from office, and the relative absence of street anger in recent weeks is no guarantee the incumbent government will survive. The country owes $51 billion in foreign debt, and in April, preemptively announced it would default on repayment. The IMF’s $2.9 billion package has brought psychological relief. But what is the progress on the debt restructuring, which is a pre-condition for the IMF to release the money? Sri Lanka was prosperous by South Asian standards, so how did things come to this? Bad choices, massive corruption, fiscal recklessness? All of them? Or events beyond Sri Lanka’s control? When did the crisis start, and when will it end? Subscribe to Express Premium – https://indianexpress.com/subscribe/?… . Morning Expresso – A morning news bulletin from the Indian Express: https://www.youtube.com/watch?v=y0xjV… Watch all Coronavirus Updates: https://www.youtube.com/watch?v=y0xjV… Watch all entertainment news from Bollywood at Indian Express Entertainment: https://www.youtube.com/watch?v=0cgZ0… Subscribe to Indian Express: http://goo.gl/RjJrX0#News#IndiaNews#LatestNews#BreakingNews#DailyNews#NewsHealines#NewsHour#EnglishNews The Indian Express Online covers all trending and latest news across India, which includes daily news, political news, gadgets and Mobile reviews, technology updates, Entertainment News, Bollywood news, public opinions and views on daily trends.
