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Economic fixes amidst COVID

The reality is that Sri Lanka has been living beyond its means for decades, and successive governments are responsible. COVID has merely exacerbated the issue. Therefore, given Sri Lanka’s external debt obligations over the next five years, it is essential for policymakers to use their time to formulate a proper debt-repayment strategy, which also factors in the quality of reserves. Eminent economists have argued that Sri Lanka’s less-than-ideal track record has brought huge challenges, as the country grapples with how it can meet debt repayments next year, which are expected to be around $ 4.3 billion.