The Failing Economy of Sri Lanka @EconomicsExplained

Economics Explained | The Failing Economy of Sri Lanka @EconomicsExplained | Uploaded January 2023 | Updated October 2024, 1 hour ago.
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Over the past decade Sri Lanka was one of the fastest growing economies in Asia. However, they took on too much debt and now the country is collapsing.

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0:00 - 2:28 Intro
2:29 - 3:33 Shipstation
3:34 - 5:10 Economic growth
5:11 - 6:25 Infrastructure spending
6:26 - 7:26 Overbuilding
7:27 - 12:59 Balance of payments
13:00 - 15:55 Debt crisis
15:56 - 17:44 Limits to Development
17:45 National Leaderboard

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The Economic Explained team uses Statista for conducting our research. Check out their YouTube channel: youtube.com/channel/UCuj2Bne141HGmYFsbkfnbqw

Over the past 2 decades Sri Lanka was one of the fastest growing economies in Asia thanks to its tourism industry and relatively educated workforce. To further bolster growth the government borrowed huge amounts of money at high interest rates. This eventually culminated with a debt crisis in 2022 which led to a near-total collapse in the economy.

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