{"id":125571,"date":"2022-05-21T12:33:53","date_gmt":"2022-05-21T19:33:53","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=125571"},"modified":"2022-05-21T12:33:53","modified_gmt":"2022-05-21T19:33:53","slug":"sri-lanka-is-in-a-death-spiral-economist","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/05\/21\/sri-lanka-is-in-a-death-spiral-economist\/","title":{"rendered":"Sri Lanka is in a death spiral \u2013 Economist"},"content":{"rendered":"<h2 class=\"td-author-by\"><span style=\"color: #0000ff;\"><em>By <a style=\"color: #0000ff;\" href=\"https:\/\/ceylontoday.lk\/author\/dilini\/\">Dilini Madushanki Courtesy Ceylon Today<\/a><\/em><\/span><\/h2>\n<div class=\"td-author-line\">\n<div class=\"td-post-featured-image\"><a class=\"td-modal-image\" href=\"https:\/\/ceylontoday.lk\/wp-content\/uploads\/2022\/05\/Steve-Hanke-2-696x522-1.jpg\" data-caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb td-animation-stack-type0-2\" title=\"Steve-Hanke-2-696x522\" src=\"https:\/\/ceylontoday.lk\/wp-content\/uploads\/2022\/05\/Steve-Hanke-2-696x522-1.jpg\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" srcset=\"https:\/\/ceylontoday.lk\/wp-content\/uploads\/2022\/05\/Steve-Hanke-2-696x522-1.jpg 696w, https:\/\/ceylontoday.lk\/wp-content\/uploads\/2022\/05\/Steve-Hanke-2-696x522-1-300x225.jpg 300w, https:\/\/ceylontoday.lk\/wp-content\/uploads\/2022\/05\/Steve-Hanke-2-696x522-1-150x113.jpg 150w\" alt=\"\" width=\"696\" height=\"522\" \/><\/a><\/div>\n<p>The Sri Lankan economy is in a death spiral\u201d, says world-renowned economist Steve H. Hanke, a professor of applied economics, at Johns Hopkins University in Baltimore.<\/p>\n<p>He said in a Twitter message that this was the first time Sri Lanka had defaulted on a debt.<\/p>\n<p>Hanke pointed out that since 1 January 2022, the Sri Lankan rupee has depreciated by approximately 50% against the US dollar.<\/p>\n<p>He stressed that the Central Bank should be abolished and a Currency Board must be installed to save the Sri Lankan economy from this death spiral.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Dilini Madushanki Courtesy Ceylon Today The Sri Lankan economy is in a death spiral\u201d, says world-renowned economist Steve H. Hanke, a professor of applied economics, at Johns Hopkins University in Baltimore. He said in a Twitter message that this was the first time Sri Lanka had defaulted on a debt. Hanke pointed out that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-125571","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/125571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=125571"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/125571\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=125571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=125571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=125571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}