Sri Lanka economy

Sri Lanka’s default highlights the dangers of relying on international sovereign bonds – with high interest rates – to fund development.

China has lent over $1 trillion to more than 150 countries as part of its Belt and Road Initiative, making it the world’s largest official creditor.

Government doctors, university teachers, and other workers from ports and the power and petroleum sectors are calling on the government to lower income taxes.

Colombo is still waiting on Beijing’s approval for debt restructuring.

Tourist numbers are rebounding after the worst of the financial crisis, but are still nowhere near government aspirations.

Low turnout at the protests indicates that Sri Lankans are giving the Ranil Wickremesinghe administration a chance to deliver.

How did Sri Lanka’s economic crisis get so bad – and how can the country move forward from here?

The government should take advantage of the crisis to do things that it could never attempt before, from addressing regressive subsidies to restructuring state-owned enterprises.

Wickremesinghe said the government's aim is to create a surplus in the primary budget by the year 2025 and to bring down public debt.

These loss-making entities are a huge drain on government coffers. It's time to think about privatization in some cases.

Ranil Wickremesinghe's use of troops to dismantle protest camps in Colombo sends out a chilling message.