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Is Sri Lanka the Next Argentina?

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19.11.2019

CAMBRIDGE – As Sri Lanka makes another crucial political transition, it faces a major risk of macroeconomic instability. Minimizing that risk will depend, above all, on whether the country’s newly elected president, Gotabaya Rajapaksa, can defy his reputation and embrace inclusive politics.

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    This idyllic island in the Indian Ocean was once a star performer. In the years following independence in 1948, progress on leading social indicators such as poverty, infant mortality, and primary education put Sri Lanka well ahead of its neighbors – India, Pakistan, and Bangladesh – and was the envy of much of the developing........

    © Project Syndicate