Updated July 16, 2022 10:59 am ET
COLOMBO, Sri Lanka–Sri Lanka’s crisis-hit economy is likely to contract by more than 6% this year as political instability and social unrest hamstring key discussions on financial relief with the International Monetary Fund and bilateral creditors, the country’s central-bank governor said.
After months of antigovernment demonstrations in the capital Colombo, President Gotabaya Rajapaksa fled the country on a military aircraft to the Maldives last week after protesters stormed his residence and other state buildings. Mr. Rajapaksa traveled onward to Singapore on Thursday, where he resigned his presidency over email.
