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Reflections on the Sri Lankan Economic Crisis*
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May 2nd 2022, Prabhat Patnaik
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So
much has been written on the Sri Lankan economic crisis
that the facts are by now quite well-known (see for
instance C P Chandrasekhar, Frontline April 22): the
massive build-up of external debt; the huge Value Added
Tax concessions that pushed up the fiscal deficit and
made the government borrow abroad even to spend domestically;
*
This article was originally published in People's
Democracy on May 1,
2022.
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