Sri Lanka's economy is on the verge of death, says Steve Hank, a world-renowned economist and professor of applied economics at Johns Hopkins University. !

 

He said in a Twitter message that Sri Lanka had defaulted on loans for the first time.

He pointed out that since January 1, 2022, the Sri Lankan rupee has depreciated by approximately 50% against the US dollar.

He stressed that the Central Bank should be abolished and a Monetary Board established to save the Sri Lankan economy from death.

He had previously said that if the Central Bank of Sri Lanka was not abolished, even loans from the International Monetary Fund would be thrown into the sewers.