Sri Lanka Leader Ramps Up Spending in High-Risk Bid for Support
- Consumers struggle to afford staple goods as prices soar
- President trying to prevent a backlash from taking root
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Many Sri Lankan voters who backed President Gotabaya Rajapaksa’s election bid three years ago are now struggling to make ends meet. His government is spending to ensure that support continues even as reserves and finances dwindle.
That could lead to Colombo asking for more loans and aid from China and India given that the government has vowed to stay away from International Monetary Fund assistance that often comes with conditions for fiscal and monetary reform.