Can the IMF bailout help Sri Lanka exit its economic crisis?
The bankrupt nation faces a tough road ahead.
Years of economic mismanagement and the effects of the pandemic have pushed Sri Lanka into its worst financial crisis since 1948. The dire situation triggered months of protests, forcing President Mahinda Rajapaksa to flee the country last July. On Tuesday, Sri Lankans woke up to some hopeful news – a nearly $3bn bailout from the International Monetary Fund (IMF).
But the bankrupt nation is expected to face tough changes in the next four years. Will Sri Lanka be able to wind back widespread shortages and a soaring cost of living?
Presenter: Nick Clark
Eran Wickramaratne – member of Sri Lanka’s parliament and former state minister of finance
Ganeshan Wignaraja – senior research associate at Overseas Development Institute
Ahilan Kadirgamar – chairman of First Northern Cooperative Development Bank