Sri Lanka’s crisis shows how debt is devouring the Global South | Debt

Sri Lanka is undergoing one of the most complex economic recoveries in its history. The country’s financial collapse in 2022 was precipitated by a toxic mix of unsustainable borrowing, poor fiscal management, and external shocks.

Mass protests erupted under the banner of Aragalaya, a broad-based citizens’ movement demanding accountability, economic justice, and an end to political corruption.

The uprising ultimately forced the resignation of the sitting president, Gotabaya Rajapaksa….