Sri Lanka is facing a political and economic Crisis attributed to the COVID-19 pandemic, the Ukraine conflict, China's 'debt trap diplomacy,' and corruption within the ruling Rajapaksa family. The crisis reflects global Debt, food, fuel, and energy crises. The country's debt and economic crisis are a result of centuries of colonial and neo-colonial developments and the capitalist paradigm of endless growth and profit. Sri Lanka has a history of seeking bailouts from the IMF and other institutions, perpetuating its cycle of debt dependence. International financial institutions remain outside political and legal control, leading to a lack of accountability. Financialization and commodification have devalued nature and human activity. Large asset management companies like BlackRock control significant shares in major sectors of the global economy. Sri Lanka's foreign debt is primarily owed to western creditors, not China. IMF debt financing requires countries to meet structural adjustment conditions, similar to classical colonialism.

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