The first part of the article about how Sri Lanka would get foreign currency
(swap, export or borrow) almost completely ignores the well documented devastation of the tourist industry, where people bring euros or dollars, due to covid19 and shutdowns of travel.
Yes I suppose it falls into the category of swap, because people bring euros and exchange them for local currency to buy local goods and services. But it was a big part of the "swap" that vanished for 2+ years.
It's mentioned later in the article, and while it's certainly a factor, there are a lot of other countries with an even larger dependence on tourism (Maldives, Fiji, Thailand, etc) that did not suffer a full blown economic crisis as a result.
I do not know about Maldives, but Fiji and Thailand still have their community connections. Family ties going back a long way. I think that helps a lot.
Yes I suppose it falls into the category of swap, because people bring euros and exchange them for local currency to buy local goods and services. But it was a big part of the "swap" that vanished for 2+ years.