“Financialisation, foreign debt and crisis” by Ahilan Kadirgamar

Since the end of the war, Sri Lanka’s economy is being transformed through a rapid process of financialisation. Such widespread financialisation facilitated infrastructure development, a real estate boom linked to urbanisation and expansion of credit leading to increasing indebtedness of the rural population. In short, financialisation contributed to the geographical changes of the economy through beautification of Colombo and infrastructural connectivity of the country. Furthermore, it has changed the class structure of the society with increasing inequality leading to a new wealthy class and an increasingly indebted population.

via: http://www.sundaytimes.lk/150201/business-times/financialisation-foreign-debt-and-crisis-132297.html


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