Sri Lanka is facing an economic meltdown. The COVID-19 pandemic hurt many low- and middle-income countries, but the island nation of 22 million people stands out as one of the hardest hit. Sri Lanka is experiencing the worst economic downturn of its history, grappling with staggering levels of government debt, spiraling inflation, and a foreign exchange crisis that has led to the scarcity of many essential goods. Long lines snake outside gas pumps. The power cuts out frequently. Shops are running out of medicines and other necessities. In April, the government defaulted on its external debt, paving the way for a loan program from the International Monetary Fund.
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