Wall Street Targets Bad Governance in Sri Lanka With Bond Deal

Nishan de Mel is a bit obsessed with debt crises. Primarily because de Mel, an Oxford-trained economist, has long suspected that the underlying cause is often bad governance. So when his native Sri Lanka fell into an economic disaster of its own a couple years ago, he decided to pore through decades of data to put his theory to the test.

“It was clear, there was a correlation between poor governance and the likelihood of a repeated government default,” he said.

Nishan de Mel

Source: Verité Research

After Sri Lanka fell into default, de Mel, armed with this evidence, urged the international financial community to ...