Unfortunately for many emerging economies, the reserves they hold are simply not enough to cover all of these demands – especially after energy prices soared when Russia invaded Ukraine.
The United Kingdom (UK) was 5th and has now slipped to 6th place as the people grapple with the increasing cost-of-living and an unstable socio-political environment.
Since the beginning of 2020 Sri Lanka’s demand for foreign currency has increased while its ability to earn foreign currency – through exports, loans and other capital inflows – has declined.
The crash killed 42-year-old mother Nancy Lefrançois and her 11-year-old son Loïc Chevalier, who were travelling in a passenger vehicle struck in the collision.