Case Studies (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
When did Sri Lanka experience its worst economic crisis in its 74-year history?
When did Sri Lanka experience its worst economic crisis in its 74-year history?
July 2022
Which external shock in 2019 devastated Sri Lanka's tourism and foreign exchange earnings?
Which external shock in 2019 devastated Sri Lanka's tourism and foreign exchange earnings?
Terrorist attacks
What was the unintended consequence of Sri Lanka's overnight fertiliser import ban?
What was the unintended consequence of Sri Lanka's overnight fertiliser import ban?
Food imports increased
How much did Sri Lanka's foreign exchange reserves fall from 2019 to 2022?
How much did Sri Lanka's foreign exchange reserves fall from 2019 to 2022?
US$8B to near-zero
By what percentage did Sri Lanka's GDP contract in 2022?
By what percentage did Sri Lanka's GDP contract in 2022?
7.8%
How much financial support did India provide to Sri Lanka during the crisis?
How much financial support did India provide to Sri Lanka during the crisis?
Over US$4 billion
By how many percentage points did the central bank raise interest rates to combat inflation?
By how many percentage points did the central bank raise interest rates to combat inflation?
10 percentage points
What was Sri Lanka's inflation rate in 2023, showing the crisis was not yet resolved?
What was Sri Lanka's inflation rate in 2023, showing the crisis was not yet resolved?
30%
What does a soft peg exchange rate system require to work sustainably?
What does a soft peg exchange rate system require to work sustainably?
Sufficient foreign reserves
What is sovereign default?
What is sovereign default?
Govt fails to meet debt obligations