Can Austerity End the Sri Lanka Crisis?
IMF’s solution for Lankan debt crisis could be a case of the cure being worse than the disease.
Communalism | Education | Employment | Fascism | Indian Economy | Indian Politics | Online Blog | Sri Lanka
Sri Lankan Crisis Caused by Majoritarianism, Authoritarianism and Minority Bashing Offers Lessons for India
The deeper reasons behind the Sri Lankan crisis are Sinhalese Buddhist majoritarianism, authoritarianism of the Gotabaya regime, violent targeting of minorities, brutal methods adopted to curb press freedom and deliberate curbing of the culture of scrutiny of public policies.
Economy | Imperialism | Print Edition | Sri Lanka | USA | World Economy | World Politics
Real Debt Trap: Sri Lanka Owes Vast Majority to West, Not China
Numerous Western political leaders and media outlets have blamed the Sri Lankan crisis on a supposed Chinese “debt trap”. In reality, the vast majority of the South Asian nation’s foreign debt is owed to the West.
Sri Lanka’s Crisis Is Endgame for Rajapaksas
Sri Lanka’s citizens’ movement known as the Janatha Aragalaya (Peoples’ Struggle), notched its most significant victory yet, when Gotabaya Rajapaksa announced that he would quit on 13 July. The Rajapaksas have tumbled. The system that spawned them has not.
Is Bangladesh Heading Toward a Sri Lanka-like Crisis?
Like Colombo, Dhaka has also taken on massive foreign loans to embark on what critics call “white elephant” projects. The economic turmoil in Sri Lanka should serve as a cautionary tale, say experts.
Sri Lanka: No Agreement with the IMF!
A Sri Lankan delegation will travel to Washington next week to try to secure up to $4 billion from the IMF to help the island nation pay for food and fuel imports as well as stem defaults on its debt. Eric Toussaint highlights the potential risks of an IMF bailout.