Sri Lanka is at a critical moment in its history. Years of economic mismanagement, weak governance, poor policy choices, and the impacts of external shocks such as the COVID-19 pandemic and the Russian invasion of Ukraine, plunged the country into its worst-ever crisis in 2022. Economic collapse and political instability have devastated lives and livelihoods across the board, dealing the heaviest blow to the poorest and most vulnerable. Regular climate-induced disasters add to Sri Lanka’s fragility. The depth of the crisis has made it clear that Sri Lanka needs a new development model. But the road to recovery is challenging and the necessary fiscal adjustment measures can be painful. Debt relief from Sri Lanka’s creditors and fresh financing from international financial institutions are thus urgent to ensure people don’t lose patience with reforms and the opportunity for a change isn’t lost. The economic crisis has left deep scars. Poverty nearly doubled in Sri Lanka between 2021 and 2022, climbing from 13 to a staggering 25% (using a poverty line of $ 3.65 per person per day), and is projected to increase by more than 2 percentage points in 2023. In the same timeframe, urban poverty tripled from 5 to […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
