A Former Economist at Sri Lanka’s Central Bank Explains Why the Country Went from Boom to Bust
| | |

A Former Economist at Sri Lanka’s Central Bank Explains Why the Country Went from Boom to Bust

Toward the end of the civil war, in 2006, the government tried to jumpstart growth by borrowing heavily and attracting foreign capital by propping up the rupee. It led to a external debt crisis, which spiralled out of control from the crisis in Ukraine.