After financial crisis, Sri Lanka will reduce its army by half.

After its financial crisis, Sri Lanka will reduce its army by half.
Bankrupt According to the defence ministry, Sri Lanka will dramatically reduce its military as it strives to reform its dismal finances following an unparalleled economic catastrophe.

Months of fuel and food shortages that made life miserable for its 22 million residents last year are still having an impact on the island nation.

To facilitate the passage of an anticipated International Monetary Fund bailout after a government borrowing default, President Ranil Wickremesinghe has raised taxes and enacted severe spending cuts.

With the defence ministry stating this would withdraw 65,000 soldiers from its 200,000-strong army so over course of the year, Sri Lanka’s armed forces are the next to go. The reductions account for the majority of Sri Lanka’s plans to reduce its ground troops to 100,000 by the end of this decade.