How Sri Lanka Got Her Groove Back

by Aqdas Afzal at Dawn: Predictably, the economic crisis rapidly transformed into a political crisis. This same sea front park became the epicenter of anti-government protests. Soon, the president resigned and sought safety abroad, while, in one of the most-watched images around the world, the Sri Lankan people took over the President’s House in Colombo.

People may not remember, but this unfortunate chaos was very closely followed in Pakistan, especially as one mainstream political party, perhaps to regain lost leverage, repeatedly claimed that Pakistan was headed in Sri Lanka’s direction.

All that chaos now seems distant history as the sound of the gently crashing waves heralds serenity. According to the IMF, inflation has come down from 70 per cent to 5.9pc, while the economy has started expanding after one and half year of contraction. This economic turnaround might tempt some to conclude that stabilization was always on the cards. Just like water in a vigorously shaken bottle calms down when left to rest on a table, all chaotic systems eventually find endogenous order, right? Wrong.

Sri Lanka’s remarkable economic recovery would not have come about without the tremendous leadership displayed by President Ranil Wickremesinghe. Wickremesinghe, the nation’s veteran statesman, stepped up to the plate when no other political leader was willing to take the reins…

More here.