Sri Lanka

Depleting foreign exchange reserves forced several countries, including Sri Lanka, Bangladesh, and Pakistan, to turn to the IMF.

Instead, it should retrain its soldiers and redeploy them in policing, peacekeeping, and disaster rescue and relief roles.

Sri Lanka’s debt restructuring is deeply embedded both within a global emerging market debt crisis and a moment of rethinking within China about its global role as a creditor. 

Reducing allocation for defense will require retrenching soldiers. Cutting loose angry youth with weapons skills is not what the crisis-ridden island needs now.

It also called for the repeal of the harsh, civil war-era Prevention of Terrorism Act, under which the two protest leaders are being held.

The Wickremesinghe government plans to more than double tax revenue to be able to meet expenditure without having to print currency.

India can follow up on its humanitarian and financial aid by building holistic maritime security and connectivity linkages with its neighbor.

Tourist numbers are rebounding after the worst of the financial crisis, but are still nowhere near government aspirations.

Low turnout at the protests indicates that Sri Lankans are giving the Ranil Wickremesinghe administration a chance to deliver.

China may require little from recipient countries on the front end. But choosing to engage with China is far from cost-free. 

Rights groups say the military has sought to curb protests through intimidation, surveillance, and arbitrary arrests since Ranil Wickremesinghe became president in July.

China is using Buddhist narratives to promote its soft power in Sri Lanka – and bolster its image as a harmonious regional power.