Sri Lanka’s Dangerous Domestic Debt Restructuring

>> Read article on Project Syndicate

PERI’s Jayati Ghosh and coauthor Kanchana Ruwanpura discuss how the recent bailout agreement between the International Monetary Fund and Sri Lanka fails to address the economy’s structural problems. Instead, it focuses on highly regressive measures that disproportionately affect the working poor and are likely to exacerbate the country’s ongoing debt distress.