Sri Lanka Amidst the Generalized World Economic Doldrums

Gus Mathews in UK

Please take time (about 16 minutes) to watch this video that explains in detail the financial issues facing Sri Lanka and a whole host of other countries…. …… Doctor Jayati-Ghosh exposes the IMF role in the crisis in Sri Lanka and elsewhere

She also slays the shibboleth that is the propaganda mantra of the USA and its allies that economic issues facing countries in Asia, Africa and South America are due to debts owed to China (the mythical ‘debt trap’ so beloved of Western commentators).
As many erudite economists have indicated that Sri Lanka’s debt to China is only ten percent of its total debt and by far the lion’s share of the debt is held by Western financial institutions at exorbitant interest and payment terms in ISBs (International Sovereign Bonds). Unfortunately the technocrats advising the GoSL prioritised the payments of these ISBs instead of defaulting and managing these resources for the good of the population of Sri Lanka who have felt the full brunt on the shortages of fuel and essential goods.
Please click on the link below………..

A NOTE from Michael Roberts: 
Gus Mathews is a Sri Lankan of achachaaru mix in ethnic lineages who lives in Britain and has relatives in Perth, Lanka and elsewhere. His commentary, in my experience, is always concise and sharp. This was an EMAIL NOTE  which I have transferred to Thuppahi so that a wider audience can benefit from his thoughts.
His comments on  the debate around Hambantota port in Thuppahi a few years back are of the same quality and are worth revisiting.

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