Rebound or relapse: Debt restructuring in a time of crisis

Over the past year, Sri Lanka has often been cited as a case study in economic precarity, and while headlines have been full of stories of poverty and the ongoing protests, there has been less dedicated coverage over next steps. The UN states that at least 5.7 million people within the country require humanitarian aid. With food inflation reaching 85.6 percent in October, 28 percent of the population face moderate to severe food insecurity. These events have to be set against a global cost of living crisis; with reports of inflation everywhere from Pakistan to the UK, France, Kenya and Nigeria. As food and fuel prices rise, lower income countries are disproportionately impacted, and the impacts of debt mismanagement become starkly visible. In this edition of Southasian Conversation (recorded on 21 January 2023), we ask: how should governments negotiate complex debt restructuring processes? What do examples from the region, and indeed globally, tell us about navigating debt restructuring, and how will this impact people’s lives in the interim? We at Himal hope this will provide an opportunity to revise these questions and also serve as a platform for an open and timely conversation on what’s next for Sri Lanka, Pakistan and Bangladesh. Full panel discussion video and transcript: https://www.himalmag.com/debt-restructuring-imf-economic-crisis-southasia/ Available on Youtube: https://youtu.be/lvzJL6epHEA Soundcloud: https://soundcloud.com/user-162273488/rebound-or-relapse-debt-restructuring-in-a-time-of-crisis?si=5ec8295432ab47f5b33491b2e1842d47&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing Spotify: https://open.spotify.com/episode/3YNld1yWbw6TTf6lHs4r0S?si=ugsFp678Sbiy9Q0rQAdBpw Apple Podcasts: https://podcasts.apple.com/us/podcast/rebound-or-relapse-debt-restructuring-in-a-time-of-crisis/id1464880116?i=1000596441692