Which country to cut its army by half after financial crisis?

Bankrupt Sri Lanka will drastically slash its military, the defence ministry said on January 13, 2023, as the government works to overhaul its shambolic finances after an unprecedented economic crisis. The island nation is still reeling from months of food and fuel shortages that made daily life a misery for its 22 million people last year. President Ranil Wickremesinghe has hiked taxes and imposed harsh spending cuts to smooth the passage of an expected International Monetary Fund bailout following a government debt default. Sri Lanka`s armed forces are next on the chopping block, with the defence ministry announcing it would retire 65,000 soldiers from its 200,000-strong army over the year.