Abstract

This Study examines political impact on contributing to Sri Lanka’s debt crisis up to 2024. Sri Lanka has faced a severe debt crisis that reached its peak in recent years. This research focuses on key political factors such as policy decisions, corruption, giant development project and short term and long-term decisions making by political leaders. The research problem is, how did political factors contribute to the debt crisis up to 2024? The main purpose of this writing research paper, critically examine in what ways did political influence led to the debt crisis up to 2024. And also sub purposes are, to identify key political decisions and policies that led to increased public debt, to analyze the impact of governance failure and political instability on economic management, to understand the role of short term and long - term political interests how to influence debt crisis and to highlight lessons for improving political decision-making to prevent future debt crisis. The writing of this article uses qualitative method. Under the qualitative method using literature resources for this. Specially analysis technique based on previous researchers’ findings. Through this study, Open economic policy introduced in 1977, Foreign borrowing for development project since 2005 as well as these development projects are loss making project, the rulers did not try to develop Sri Lanka’s export economy Government not being able to pay the loan monthly and taking a loan from another place, these findings can be identified regarding how did political factors contribute to the debt crisis up to 2024.