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Sri Lanka’s Macroeconomic Crises: The Tale of Twin Deficits
Preeta George; Monika GuptaCase IVEY-W31827-EEconomicsIn May 2022, Sri Lanka faced its worst economic crisis since its 1948 independence from Britain. The crisis led to skyrocketing prices, double-digit inflation, a more than 100 per cent increase in fuel prices, multi-hour power cuts, depleting foreign exchange reserves, an acute shortage of food and medicines, a dramatic collapse in incomes, mounting government deficits, devastating government policies, record debt defaults, and a downgraded curre...Starting at €8.20