TOKYO -- Sri Lanka is on the brink of economic collapse, mired in its biggest financial crisis since independence in 1948.
Colombo, the commercial capital of the island nation of 22 million people, saw its inflation, as measured by the year-on-year change in the consumer price index, hit 29.8% in April, up from 18.7% in March. The nation's foreign exchange reserves, which totaled $7.6 billion at the end of 2019, have plunged to $1.8 billion, worsening shortages of imported fuel and medicine.
