The war in Ukraine has generated an economic tidal wave that is crashing over countries near and far. Among the more far-flung is Sri Lanka, half a world away from the battlefield, where surging food and fuel prices have supercharged a downward spiral that was already under way.
The island has been rocked by street protests that led to the resignation last month of Prime Minister Mahinda Rajapaksa, the brother of President Gotabaya Rajapaksa, and his cabinet. To save Sri Lanka from economic collapse and sociopolitical disaster will require radical action.
With a new prime minister at the helm in Ranil Wickremesinghe, Sri Lanka must address the grave economic crisis it faces, beginning by putting its public finances in order.
