Why did Sri Lanka's economy collapse after nearly 75 years of independence?

In late June, Sri Lanka declared an economic collapse, leaving the nation unable to afford essential imports like fuel, medicine, and food. This video examines the factors behind the country's most severe financial crisis since gaining independence from Britain nearly 75 years ago.

The crisis reached a breaking point in late June when Prime Minister Ranil Wickremesinghe officially announced the collapse of the economy. With no capital available to secure basic necessities, the government was forced to seek emergency assistance from international bodies like the IMF and neighboring nations.

This situation marks the most significant economic downturn for Sri Lanka since it achieved independence from Britain almost 75 years ago. The video explores the underlying causes that led to this state of total depletion, where the country could no longer sustain its basic import requirements.

Source: What Killed Sri Lanka's Economy?