Washington Times · Jul 10, 2022
Why Sri Lanka’s economy collapsed and what’s next
Protesters stand on a vandalised police water canon truck and shout slogans at the entrance to president’s official residence in Colombo, Sri Lanka, Saturday, July 9, 2022. (AP Photo/Eranga Jayawardena)COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister said late last month that the island nation’s debt-laden economy had “collapsed” as it runs out of money to pay for food and fuel. Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighboring India and China and from the International Monetary Fund.