Rupa Subramanya is a researcher and commentator. She is a distinguished fellow of the Asia Pacific Foundation of Canada and the co-author of "Indianomix: Making Sense of Modern India."
Cheap money borrowed from abroad can turn out to be a bad bet

Sri Lankan rupee note: Sri Lanka is by no means the only country staring bankruptcy in the face. © Reuters
Rupa Subramanya is a researcher and commentator. She is a distinguished fellow of the Asia Pacific Foundation of Canada and the co-author of "Indianomix: Making Sense of Modern India."