Sri Lanka, July 10 -- The Sri Lankan economy is in dire straits owing to the strict lockdown imposed by the government from March 21st to May 9th to counter the Covid-19 pandemic.

The curfew was partially relaxed on May 10th and lifted on June 29th. As a consequence of this lockdown, gross domestic product (GDP) has plummeted and consumer demand has been severely dampened.

Moreover, dwindling foreign reserves have forced the government to ban or restrict hundreds of import items and raise import duties on a wide range of other goods.

Other issues, such as falling exports, declining worker remittances, and mounting pressure of external debt-service obligations, are further exacerbating the problem of prudent macroeconomic management, es...