WASHINGTON DC, May 11 (IPS) – Sri Lanka is in the throes of an unprecedented economic crisis. Faced with a shortage of foreign exchange and defaulting on its foreign debt repayment, the country is unable to pay for its food, fuel, medicine, and other basic necessities. Notwithstanding the austerities that would be entailed, a bail out by the International Monetary Fund (IMF) has been accepted as the only way out of the dire economic situation.
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