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Thousands of Sri Lankans are protesting in the streets, the president is about to resign, the prime minister’s house has been set on fire, and the country has run out of money. What is happening? Why is Sri Lanka in crisis? What went wrong with the country’s economy?
TRANSCRIPT -- https://thinkinginenglish.blog/2022/07/13/why-is-sri-lanka-in-crisis/)
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Vocabulary List
Turmoil (n) - a state of confusion, uncertainty, or disorder
The whole region is in turmoil
Foreign Exchange Reserves (n) - the amounts of money in foreign currencies that a country has at a particular time
Exporting more than you import is the best way of building foreign exchange reserves
Mismanagement (n) - the process of organising or controlling something badly
Two schools were shut down due to financial mismanagement
Remittance (n) - money that is sent by a foreign worker back to their own country
Immigrants sent $45 billion in remittances to Latin America last year
Domestic (adj) - relating to a person’s own country
You do not need a passport for domestic flights
To lease (v) - to make a legal agreement by which money is paid to use land, a building, a vehicle etc for a period of time
Our building lease expires in two weeks
To storm (v) - to attack a place or building by entering suddenly in great numbers
The fortress was stormed by hundreds of soldiers
Bailout (n) - the act of helping a person or organisation that is in difficulty, usually by giving or lending money
The bank asked the government for a bailout
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