News > 'Nothing to eat, nothing to drink': Why Sri Lanka is facing worst economic crisis in decades

'Nothing to eat, nothing to drink': Why Sri Lanka is facing worst economic crisis in decades

Headlines Today | 30/03/2022 08:27 PM | Click to read full article

The Sri Lankan economy has been facing one of its worst-ever economic crises, resulting from mismanaged government finances and ill-timed tax cuts, besides the impact of the Covid-19 pandemic.

Huge piles of foreign debt, a series of lockdowns, soaring inflation, shortage in fuel supply, fall in foreign currency reserves, and devaluation of the currency have adversely impacted the country's economic growth.