Sri Lanka's economy seems to have collapsed

NPR: "Sri Lankan prime minister says that the nation’s economy has collapsed"

COLOMBO, Sri Lanka — Sri Lanka's debt-laden economy has "collapsed" after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country's dire situation as it seeks help from international lenders.

Ranil Wickremesinghe told Parliament the South Asian nation faces "a far more serious situation" than the shortages alone, and he warned of "a possible fall to rock bottom." "Our economy has completely collapsed," he said.

https://www.npr.org/2022/06/23/1106994140/sri-lankan-prime-minister-says-nations-economy-has-collapsed

There's an excellent video 'splainer from PolyMatter here:

https://yewtu.be/watch?v=W5zxYDHwf-Y

As noted there, Sri Lanka is only the first of several other weak economies which might fall, with the nuclear-armed Pakistan being amongst the others.

There's also the tight correlation of economically-induced food shortages and political instability, as observed in the Arab region's Green Revolutions of the aughts.

#SriLanka #EconomicCollapse #Pakistan #PolyMatter