The economic crisis is disproportionately impacting children from socioeconomically disadvantaged or marginalised backgrounds, with the poorest students experiencing 57 per cent more learning loss than the richest. One of the long-term impacts of the economic crisis is the perpetuation of the cycle of generational poverty in Sri Lanka.
A survey by LirneAsia, a Colombo-based policy research institute, estimates that more than 4 million people have fallen into poverty in Sri Lanka since 2019, pushing the poverty rate up to 31%.
The IMF’s board has finally backed a $3bn bailout for Sri Lanka to help the country restructure its debts and relieve a “catastrophic” economic and social crisis. The deal on the bailout
Sri Lanka has extensive foreign debts that it had secured for infrastructure projects. The country accrued foreign debt of $35 billion in 2021. While a significant part of this debt is owed to other countries in the form of concessionary loans, the largest sum of borrowing for Sri Lanka is in the form of international sovereign bonds.
Compared with countries like the US, UK and most of Western Europe Sri Lanka is relatively poor coming in a disappointing 74th in the world in Gross Domestid Product. However it also boasts some
Introduction. This paper examines contemporary issues of governance and administration in Sri Lanka. It focuses on current trends and crises in governance and its impact on institutional quality. The paper argues that the two key requirements for development in any country are political stability and quality governance.
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is sri lanka a poor country
