AYABONGA CAWE: Sri Lanka’s collapse holds lessons for coalitions and graft focus
17 July 2022 - 17:00
The worst financial crisis to hit Sri Lanka in 70 years has rapidly evolved into a major governance and political crisis with lessons not just for SA but many postcolonial societies in the Global South.
In May the South Asian nation was unable to service nearly $78m in debt payments, in what the Sri Lankan central bank called a “preemptive default”. As Sri Lankan commentator Shiran Ilanperuma suggested to me on MetroFMTalk last week, the issue of debt was, and remains, linked to the structural features of the Sri Lankan economy...
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