Is Sri Lanka the Next Argentina?
Sri Lanka has long been prone to macroeconomic instability as a result of its deep social and political divisions. If the country's newly elected president, Gotabaya Rajapaksa, pursues policies that perpetuate these divisions, macroeconomic stability will remain elusive.
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CAMBRIDGE – As Sri Lanka makes another crucial political transition, it faces a major risk of macroeconomic instability. Minimizing that risk will depend, above all, on whether the country’s newly elected president, Gotabaya Rajapaksa, can defy his reputation and embrace inclusive politics.