On Tuesday, the Prime Minister of Sri Lanka, Ranil Wickremesinghe, told the parliament that the country is not only bankrupt but also has no fuel left. Government employees have been told to stay home due to fuel unavailability. Inflation spiked 54.6% in a year and is expected to hit 60% soon, and transportation costs have gone up 128% in only one month. Civilians are struggling to procure basic necessities like food and medicine. Protesters in the Sri Lankan capital of Colombo stormed President Gotabaya Rajapaksa’s palace last week, clamoring for his resignation.

To speak about the process of how Sri Lanka collapsed and what countries like India can learn from it, we invited Nitin A. Gokhale. Nitin A. Gokhale is one of South Asia's leading Strategic Analysts. He is the founder of the defence-related website BharatShakti.in. and Strategic News International. Now a media entrepreneur, Gokhale has worked across print, web and broadcast mediums since 1983.