The ongoing economic and political crisis in Sri Lanka demonstrates more than ever that geopolitical rivalry fosters myopic decision-making, and that peace is a prerequisite for intergenerational justice. Sri Lanka is facing an unprecedented emergency. Decades of financial mismanagement by governments dominated by the family of President Gotabaya Rajapaksa, combined with the effects of the COVID-19 pandemic and the Russia-Ukraine war, have now left the country on the brink of economic collapse. For the first time since independence in 1948, Sri Lanka’s government announced that it will be defaulting on all $51 billion of its sovereign debt, as it seeks an urgent bailout […]
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Just before midnight on Monday, Peruvian President Pedro Castillo appeared on television to declare an unprecedented state of emergency for Lima, the capital. All the city’s residents, he said, were to stay indoors for 24 hours, beginning just two hours after his announcement. The controversial decision, which would later be rescinded after protesters ignored it, came in response to widespread demonstrations by truck drivers and transportation syndicates against the spike in fuel prices caused by Russia’s invasion of Ukraine. Peru’s new crisis came just after Sri Lanka’s president declared a state of emergency in his own country. The Indian Ocean nation […]