Sri Lanka defaulted on its external debt for the first time in its postcolonial history…
The Shrinking of Global Imbalances C. P. Chandrasekhar and Jayati Ghosh
Global imbalances in the current account do appear to have come down in the aggregate but the pattern and the outcomes are different from what was anticipated.
Shrinking_Global_Imbalances (Download the full text in PDF format)
(This article originally published in the Business Line on November 9, 2015.)