Sri lanka is facing a debt problem because of years of poor government policies. Specially after 1977. President at the time decided to make a country a open economy. As a result of this decision imports flooded and overwhelmed the local business.
Whole economy started rely more on imported products. Life styles and culture started to change. Most of the local shops started to close down. As country still Lanka started to pay huge amounts in foreign currency. Years of continuation of this process resulted in a huge debt trouble over the years.
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