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Nairaland Forum / Nairaland / General / Politics / The Economic Crisis Of Sri Lanka (248 Views)
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The Economic Crisis Of Sri Lanka by Leoking01: 2:02pm On May 08, 2022 |
The roots of the crisis, lie in years of economic mismanagement by successive governments that created and sustained a twin deficit – a budget shortfall alongside a current account deficit. “Sri Lanka is a classic twin deficits economy,” said a 2019 Asian Development Bank working paper. There is a Twin deficit, A trade deficit, and a Budget deficit. Twin deficits signal that a country’s national expenditure exceeds its national income, and that its production of tradable goods and services is inadequate- i.e it imports more than it export, It spends more than it earns. Sri Lanka also borrow heavily from China, she borrowed money from her to build port, airport, highway and others, but they were caught under china web of debt diplomacy. Sri Lanka is a country that depend heavily on importation of almost all commodity. https://www.youtube.com/watch?v=lsrYGpVhY5M |
Re: The Economic Crisis Of Sri Lanka by God1000(m): 2:09pm On May 08, 2022 |
Expect China to takeover their national assets very soon |
Re: The Economic Crisis Of Sri Lanka by Buckeyemedia1: 2:42pm On May 08, 2022 |
God1000:IMF will bail them out, it is the interest that their children will pay back, to keep them as future slaves to The G7, they are negotiating presently @ K Street, Washington DC. |
Re: The Economic Crisis Of Sri Lanka by Leoking01: 5:11pm On May 08, 2022 |
Buckeyemedia1:Yes, they are currently seeking help from the IMF, but there is always a strings attached as there is no thing called "Free Meal" |
Re: The Economic Crisis Of Sri Lanka by 1875shk: 7:21am On May 09, 2022 |
[s] Buckeyemedia1:[/s] |
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