There is nothing new about nations collapsing under the weight of their debts. But Sri Lanka’s awful predicament highlights three new aspects of our world.
Sri Lanka’s acting president, Ranil Wickremesinghe, has declared a state of emergency as his administration seeks to quell social unrest and tackle an economic crisis gripping the island nation.
Sri Lanka is in the midst of a deep and unprecedented economic crisis that has sparked huge protests and seen its president quit after fleeing the country - but other countries could be at risk of similar troubles, according to the head of the International Monetary Fund (IMF).
Sri Lankans are to be congratulated on their ousting of the Rajapaksa family, crowned by last week’s hasty flight into exile of the country’s president, Gotabaya Rajapaksa.
Ranil Wickremesinghe has suddenly been promoted from being Sri Lanka's prime minister to its new interim president - but how long he lasts in that job is an open question.
