Sri Lanka's Economy Shows Signs of Recovery After Crisis, But Citizens Still Face Challenges
• Sri Lanka's economic situation starting to gradually improve after 2022 crisis, says IMF • Inflation down from 70% in 2022 to 5.9% in January 2023 • Economy grew 1.6% in Q3 2022 and 4.5% in Q4 after contracting for 1.5 years • Sri Lanka received $2.9 billion IMF bailout in 2022 after declaring bankruptcy with $83 billion debt • Reforms underway but high taxes, currency devaluation, and unemployment still impacting Sri Lankans