The bankrupt country faces a difficult road.
Years of economic mismanagement and the effects of the pandemic have pushed Sri Lanka into its worst financial crisis since 1948. The dire situation led to months of protests, forcing President Mahinda Rajapaksa to flee the country last July. On Tuesday, Sri Lankans woke up to hopeful news: a rescue package worth nearly $3 billion from the International Monetary Fund (IMF).
But the bankrupt nation is expected to face sweeping changes over the next four years. Will Sri Lanka be able to reverse widespread shortages and rising cost of living?
Presenter: Nick Clark
Guests:
Eran Wickramaratne, Member of Parliament of Sri Lanka and former Finance Minister
Ganeshan Vignaraja, Policy Advisor and Senior Research Associate for the Overseas Development Institute, Colombo.
Ahilan Kadeelgama, Political Economist and Chairman of the Northern Cooperative Development Bank, Jaffna