World renowned economist Steve Hank, professor of applied economics at John Hopkins University, has emphasized again that Sri Lanka’s economy has suffered death.
He is mentioning in a note on his Twitter account.
He has further stated that the annual inflation in this country has risen to 122%.
He has pointed out that the situation has further worsened and even the International Monetary Fund has refused to give loans to Sri Lanka.
Professor Steve Hank further mentioned in his Twitter message that Sri Lanka had joined 16 IMF programs but none of them was successful.
Professor Steve Hank has pointed out that Sri Lanka has come to the forefront of the list as the country with the highest inflation rate after Zimbabwe, which has recorded the highest inflation in the 30 days of June.
<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Sri Lanka is in a death spiral. Today, I measure LKA's inflation at 122%/yr. Things are so bad even IMF refuses to offer Sri Lanka a bailout loan. SPOILER ALERT: Sri Lanka has had 16 IMF programs. None have worked.<a href=”https://t.co/OT20JfwvzY”>https://t.co/OT20JfwvzY</a></p>— Steve Hanke (@steve_hanke) <a href=”https://twitter.com/steve_hanke/status/1543625618834612224?ref_src=twsrc%5Etfw”>July 3, 2022</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>
