Date of Publication :28th June 2023

Abstract: Small countries and small economies have been hit disproportionately during the Covid crises. Behind every crisis is a looming bankrupt economy. The case of Sri Lanka whose economy is in dire distress is taken as a case study in this paper. The study also points out the fallacy of dynastic rule which made corruption at high levels a rule rather than an exception. The study also points out the fallacies that printing of currency and large IMF loans. The dependence on only a few areas of national income can lead to severe crises such as tourism hit COVID in Sri Lanka.

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