'Collapsed': Sri Lankan Prime Minister declares nation now 'bankrupt'

Sri Lanka's Prime Minister has declared the nation is officially "bankrupt" as it reels from a devastating financial crisis that has seen inflation soar to record highs.

The nation of 22 million has been battling an economic crisis for months, and defaulted on its debts for the first time in May.




The government has since run out of foreign currency to import critical items, with dire shortages of essentials and devastating power cuts fast becoming the norm, with schools closed and employees ordered to work from home.

According to the UN, the situation has grown so dire that around 80 per cent of the population are now forced to regularly miss meals.

Read the full news here.



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2008 Corruption Perceptions Index

Where do you live on this earth? Are you proud of the country you are living in now? See below, the top ten countries percepted as least corruptible in the world!

Facts and figures do not tell lies ;-)

Source: Transparency International

Country Rank	Country	2008 CPI Score	Survey Used	Confidence Range
1	Denmark	9,3	6	9.1 - 9.4
1	New Zealand	9,3	6	9.2 - 9.5
1	Sweden	9,3	6	9.2 - 9.4
4	Singapore	9,2	9	9.0 - 9.3
5	Finland	9,0	6	8.4 - 9.4
5	Switzerland	9,0	6	8.7 - 9.2
7	Iceland	8,9	5	8.1 - 9.4
7	Netherlands	8,9	6	8.5 - 9.1
9	Australia	8,7	8	8.2 - 9.1
9	Canada	8,7	6	8.4 - 9.1
39	Taiwan	5,7	9	5.4 - 6.0
40	South Korea	5,6	9	5.1 - 6.3
45	Bhutan	5,2	5	4.5 - 5.9
45	Czech Republic	5,2	8	4.8 - 5.9
47	Malaysia	5,1	9	4.5 - 5.7
80	Thailand	3,5	9	3.0 - 3.9
141	Philippines	2,3	9	2.1 - 2.5
178	Iraq	1,3	4	1.1 - 1.6
178	Myanmar	1,3	4	1.0 - 1.5
180	Somalia	1,0	4	0.5 - 1.4

David Lim, Auckland, New Zealand.