The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis.

FORBES: Sri Lanka

In 1991 the Indian government sold similar bonds to expatriates to claw its way out of a balance-of-payments crisis.

ECONOMIST: Indian bonds

The euro zone is showing the symptoms of an internal balance-of-payments crisis, with self-fulfilling runs on countries, because at bottom that is the nature of its troubles.

ECONOMIST: The euro

An unprecedented growth spurt at the end of the 1980s led to a balance-of-payments crisis, Mr Singh's reforms and the subsequent boom culminating in annual growth rates in the past three years of 9% or more.

ECONOMIST: A tale to gladden the heart of economic liberals

Not, perhaps, on the scale of two decades ago, when a full-blown balance-of-payments crisis ushered in those first, ground-breaking reforms that began dismantling a socialist state and liberalising trade and investment.

ECONOMIST: Indian reform

After 1991, when a balance-of-payments crisis led India to deregulate, the central bank rediscovered its spine.

ECONOMIST: The Reserve Bank of India

Likewise, India has not run into big financial trouble since a balance-of-payments crisis in 1991.

ECONOMIST: Indian financial reform

That led to a balance-of-payments crisis 21 years ago which forced India to change.

ECONOMIST: India

Printing money would worsen inflation, debauch the currency and bring a balance-of-payments crisis.

ECONOMIST: Pakistan��s new president

This time around, it seems that the more flexible and much weaker rouble will be used as a main shock absorber if the world crisis deepens, and should provide a mechanism for a rapid balance-of-payments adjustment.

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