Sri Lankan Economic crisis should be an eye-opener for the developing countries

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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 m