What’s the way out of Sri Lanka’s economic crisis? | Business and Economy
From: Counting the Cost
Sri Lanka’s finance minister has made a request for a Rapid Financing Instrument with the IMF. What are the chances for a bailout?
Sri Lanka’s coffers have all but dried up and it cannot afford to pay for imports.
Millions of its people are bearing the brunt of the country’s economic crisis. Basic goods are in short supply, power cuts are frequent, prices are soaring and the value of incomes is eroding.
Many people are blaming the president for the worst economic crisis in more than 70 years and they have taken to the streets to demand he step down.
Elsewhere, China’s GDP growth for the first quarter beats forecasts, but will it achieve the 5.5 percent growth target for 2022?