Sri Lanka's ongoing economic meltdown is getting worse day by day. It's the worst financial crisis this island nation of 22 million people has faced since its independence seven decades ago. The country's foreign reserves have been dangerously low in recent months, and experts fear the country is on the verge of default.
The ongoing pandemic, heavy public spending and an outstanding external debt of €23 billion have led the country to this abysmal situation. As a result, the government has declared a state of economic emergency and has been printing money to pay back domestic loans and foreign bonds. A large part of the population is now struggling to make ends meet.
Programme prepared by Jennie Shin.
