A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended. The central bank expects the economy to resume growth this quarter after six quarters of contraction - faster than expected by many economists - while overseas remittances are surging and tourist numbers are rising. "Stability is somewhat there but what it means is no extreme shortages, no fuel queues, and no 13-hour power cuts," said Rehana Thowfeek, an economist at the Colombo-based Advocata Institute think tank.
A year after angry Sri
Lankans stormed the president s residence and forced his ouster
during a meltdown of the economy, the island s streets are calm,
there are no serpentine queues at fuel stations.
Analysis-A Year Later, Sri Lanka s Tentative Economic Recovery Eludes the Poor usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said yesterday after signing off on a $3 billion loan for the crisis-hit nation.