Publisher's Synopsis
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 started
- How severe this crisis is
- How the crisis affected Sri Lankans
- What the protesters are aiming to achieve
- Casualties during the crisis
- President Gotabaya Rajapaksa's Resignation
- What's next for Sri Lanka
- And a lot more
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