Sri Lanka on the brink of bankruptcy
Sri Lanka’s economy is in dire straits with the World Bank reporting that an estimated 500,000 people have fallen bellow the poverty line since the start of the pandemic and with the price of basic goods skyrocketing.
Over the next 12 months, Sri Lanka is required to pay an estimated US$7.3 billion in domestic and foreign loans, including a US$500m international sovereign bond repayment in January. However, as of November, available foreign currency reserves were just $1.6 billion.



