Sri Lanka's economic crisis explained ||
Sri Lanka is mired in a deep economic crisis with over 17% inflation and acute balance of payment crisis. Foreign exchange reserves have depleted to such a low level that the island nation is unable to import even essential commodities. The country is also unable to pay its past debt. What led to this crisis?
Structural weakness: Sri Lanka suffers from a structural imbalance in the economy as it mainly depends on export of primary commodities such as tea and rubber. Besides primary commodity exports, tourism and foreign remittances are the other sources of foreign exchange. Thus the earned foreign exchange is used to import even essential consumption including food.

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