A look at how the crisis in the island nation has unfolded in the past two weeks.
Sri Lanka, which is mired in a deep political and economic crisis, has announced it is suspending payments on its $51bn foreign debt.
The island nation of 22 million people is experiencing acute shortages of food, fuel and other essentials, a crisis that has inflicted widespread misery in the worst downturn since independence from the United Kingdom in 1948.
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The South Asian country emerged from a devastating civil war in 2009, only to be rocked by Easter Sunday church bombings in 2019 before being hit hard the following year by the COVID-19 pandemic, which torpedoed its vital tourism sector.
Here is how the crisis has unfolded in recent days: