Sri Lanka is facing its worst economic crisis since independence in 1948.
International rating agencies have warned that the island nation is on the verge of defaulting on its debt.
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Its usable foreign currency reserves have plunged below $1bn, limiting Sri Lanka’s ability to repay loans.
Traders can’t access dollars to buy imports.
So what does this all mean for Sri Lankans?
Presenter: Adrian Finighan
Guests:
Nishan de Mel – Executive director and head of research at Verite Research
Jabin Jacob – Associate professor at the Department of International Relations and Governance Studies at Shiv Nadar University
Bhavani Fonseka – Senior researcher and attorney at law with the Centre for Policy Alternatives