The Crisis in Sri Lanka: The Story Of What Happened

By Jeffrey D. Brown

The island nation of Sri Lanka is now experiencing an ongoing economic crisis that began in 2019. As a result, there have been previously unheard-of highs in inflation, an almost complete depletion of foreign exchange reserves, shortages of medical supplies, and a spike in the cost of essential goods.Under the presidency of Gotabaya Rajapaksa, Sri Lanka implemented significant tax cuts that had an impact on government income and fiscal policies and resulted in soaring budget deficits.

Rating agencies downgraded the sovereign credit rating as a result of the significant loss in tax income, making it more difficult to take on further debt. The International Monetary Fund (IMF) had advised the Central Bank to cease printing money and instead raise interest rates, increase taxes, and reduce expenditure. Instead, the Central Bank started printing money in record volumes to pay for government spending.
This book covers the whole story about the crisis.

In "The Crisis In Sri Lanka" you'll discover: How the crisis startedHow severe this crisis isHow the crisis affected Sri LankansWhat the protesters are aiming to achieveCasualties during the crisisPresident Gotabaya Rajapaksa's ResignationWhat's next for Sri LankaAnd a lot more
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• Format: Paperback
• Language: English
• ISBN: B0B6LLM9HL
• ISBN13: 9798841113843
• Release Date: July 2022
• Publisher: Independently Published
• Length: 38 Pages
• Weight: 0.14 lbs.
• Dimensions: 0.1" x 6.0" x 9.0"