At end-May Sri Lanka was effectively bankrupt. While the fallout is devastating for the citizens of the island state, several lessons can be learnt from it, and many particularly interesting questions emerge about the very idea that a state can go bankrupt.
These questions usually have to do with why it is that when a corporation goes bankrupt it typically goes out of business, but when a country goes bankrupt it does not cease to exist...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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