News Snapshot:
Sri Lanka is currently experiencing the worst economic turmoil in its independent history, staring at surging inflation, staggering levels of debt and empty foreign exchange reserves, resulting in crippling shortages of essential items like food and medicine. Regional heavyweights India and China, both vying for influence in the island nation, have been quick to offer help. New Delhi has so far given about $1.5 billion (€1.47 billion) to Colombo for funding imports of food, fuel, medicines and fertilizers. It has also provided another $3.8 billion in assistance in the form of currency swaps and credit lines. Beijing, for its part,...
