| Summary/Abstract |
Sri Lanka’s economic collapse needs immediate global attention, not just from humanitarian agencies, but from international financial institutions, private lenders and other countries who must
come to the country’s aid,” they said in statement. The nine experts expressed alarm over record high inflation, rising commodity prices, power shortages, a crippling fuel crisis and economic collapse, as the countr y grapples with unprecedented political turmoil. Also, the major export destinations like China along with countries of the European Union, (after COVID-19), had issues with trade, which also reduced Sri Lanka’s foreign exchange earnings. Sri Lanka’s FDI has also plummeted recently leaving the country with lesser foreign reserves. It decreased from $548 million in 2020 to 793 million in 2019 and 1.6 billion in 2018.
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