By Nathan Were The island nation of Sri Lanka is not poor. Its per capita GDP – when adjusted for purchasing power – is higher than South Africa, Peru, Egypt, and Indonesia. However, the country now faces its worst economic and social crisis since its independence in 1948. The financial system has collapsed, and fuel, food, electricity, and medicine shortages cripple the island nation of 22 million people. Its people have taken to the streets to protest and demand the resignation of President Gotabaya Rajapaksa, who took over the country in 2019 with a 52 percent election win. Thousands of…
Sri Lankan Economic crisis should be an eye-opener for the developing countries

Nathan Were is a Financial Inclusion Specialist based in Nairobi, Kenya




