Sri Lanka, mired in severe economic crisis, declared a state of emergency after President Gotabaya Rajapaksa fled on a military plane after months of protests. Sri Lanka is mired in its worst economic crisis since independence from Britain in 1948, with soaring prices, a shortage of food and fuel, depleted foreign exchange reserves and its first sovereign debt default since independence on May 19.
Debt defaults damage a country's reputation, making job email list it harder to borrow the money it needs in international markets, which in turn further damages confidence in its currency and economy. How did Sri Lanka get to the chaotic situation it is today, and what solution does the international community have? Please see the six key points combed by "BBC Chinese".
How serious is the economic crisis that brought Sri Lankans to the streets? Beginning in early April, demonstrations against rising prices and shortages of supplies broke out in Colombo, the capital of Sri Lanka. The scale of protests continued to expand and gradually spread to all parts of the country. People are outraged that the cost of living has skyrocketed to unaffordable levels.