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Lessons from Sri Lanka on populist economic interventions

Protesters, many carrying Sri Lankan flags, gather outside the presidents office in Colombo, Sri Lanka, Saturday, July 9, 2022. [AP Photo]

A recent Daily Mirror editorial on Sri Lanka mentions that since independence, the country had implemented a number of welfare measures such as, "subsidizing costs of food and fuel."

It adds that "these measures were intended to gain electoral popularity, but they also led to a weakening of the economy."

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