The roots of the crisis, lie in years of economic mismanagement by successive governments that created and sustained a twin deficit – a budget shortfall alongside a current account deficit.
“Sri Lanka is a classic twin deficits economy,” said a 2019 Asian Development Bank working paper. There is a Twin deficit, A trade deficit, and a Budget deficit. Twin deficits signal that a country’s national expenditure exceeds its national income, and that its production of tradable goods and services is inadequate- i.e it imports more than it export, It spends more than it earns.
Sri Lanka also borrow heavily from China, she borrowed money from her to build port, airport, highway and others, but they were caught under china web of debt diplomacy.
Sri Lanka is a country that depend heavily on importation of almost all commodity.


https://www.youtube.com/watch?v=lsrYGpVhY5M