Topic: Sri Lanka Economic Crisis is Getting Worse (Read 2457 times)

Sirlanka will survive and I am sure they will emerge as the more powerful state

Sri Lanka is the talk of the town these days. I hope they recover from the crisis soon
It is sad to see some countries are in great crisis these days - and they are fighting hard to come out of it. At the moment they have not been successful yet but hope the will overcome it.

You are very right in pointing out that sometime is going on everywhere
Be it Sri Lanka - or India - or Pakistan or be it Russia or Ukraine or Palestine or Afghanistan or Syria
The powerful are oppressing the weak and the weaks are trying to survive.

The same thing is happening almost everywhere and I think it will be worse if this continues till winter time when there will be cold and everyone would need oil and gas to survive the long winter season. The new government still have something to do and some time to reshape the country economy if not, thing might get even worse than what they are facing right now.

It is true - but then again there is not stopping to natural disaster and man is helpless in front of those disasters
be it in south asia or in USA or in Sri Lanka.
The government have a big hand in making the lives of the people - but people too have to stand up for their rights. and come out as a strong and responsible citizen

Indeed, the world economy is currently in a slump, but what is happening in Sri Lanka is that the economy is getting worse, because many factors have caused the Sri Lankan economy to slump, starting from corruption, fuel oil being scarce, and so on. But in this case, I personally can only pray that the Sri Lankan economy will recover quickly. and of course this will be a lesson for all of us and an example for us, hopefully we don't experience what happened in Sri Lanka. but I believe that in the future the Sri Lankan economy will recover.

Did you know Sri Lanka is really battered this year. After being declared bankrupt, the South Asian country's economy continued to decline.
Based on data from the Sri Lanka Department of Statistics released Thursday (15/9/2022), Sri Lanka's GDP growth in the second quarter of 2022 was recorded at -8.4%. The correction was the worst in the last 7 decades.

 This is the second sharpest contraction we have seen. The last one was when Sri Lanka posted negative 16% growth in Q2 2020 due to the Covid-19 pandemic lockdown," said Dimantha Mathew, Head of Research at First Capital, quoted by Reuters .
Source : read here

the government must immediately rise and at least this year they are able to have an impact on recovering from the end of the crisis they experienced.

It's their time when they started banning fertilizers to be used by the farmers of Sri Lanka and then boastfully announce to the world this is how he will make Sri Lanka richer in the next 5 years.

I wouldn't count the China debt trap they were talking about since the percentage that the Chinese government asks for is too low. But it would be good that thier government allows Chinese investors and businesses to speed up economic activity.

If we look further back before the economic crisis in Sri Lanka. then we will find a lot of problems and chaos that occurred in the country of Sri Lanka.
like a civil war with a government that lasted a very long time. some even say it takes years or even decades. there is no harmony in citizenship there. or maybe there are parties who deliberately clash between the citizens and the government.
During the civil war, many Sri Lankans tried to escape from Sri Lanka. Most of them migrate illegally via waters to Italy and Australia. In fact, many passengers died on the journey. and his body was thrown into the sea. because the distance traveled by sea to get to Australia can reach 15 days. and to reach italy can take 30 days. So it's a high risk trip. but those who fled from sri lanka have hope of a better life in the country they are going to. and they were very tormented in their own country because the civil war continued at that time.

and it turns out that illegal migration is still happening today. In the past, Sri Lankans fled their country because of the civil war. So today they want to leave Sri Lanka because of the worsening economic crisis.
Bahkan Menurut Angkatan Laut Sri Lanka, jumlah orang yang berusaha kabur dari sri lanka menuju ke Australia menggunakan perahu meningkat drastis tahun ini. jika dilihat dari berdasarkan jumlah orang yang tertangkap oleh Angkatan Laut sri lanka. seperti dapat anda lihat pada gambar berikut ini.

Sourch : Www.bbc.com

If he dares to return to his country even his supporters return to politics, then there is no hope for the Sri Lankan people to get an economic recovery because it is all about collusion and nepotism. Maybe it can be said all the protesters do to be in vain because the current leadership is still affiliated with the previous leader who did not have the intentions to make his country better

Not that really everywhere, at least for the other countries, they've mitigated the same happening with Sri Lanka.

From what I've read, the new leader has some experience but it will take time for them to utterly recover from the devastation that has happened to their economy.

Let's just hope that they have learned the lesson the hard way and their leaders won't be following the same path.

Queuing for more than 3 days for 10 liters of oil is a really sad thing and I can't imagine it because it feels like the world is about to end. Don't you ask more people there how much help is coming there to tackle the things that are needed in Sri Lanka? Because Sri Lankans are also human beings who are entitled to aid such as food and edible oil.

God always has mercy on all humans in this world because the blessings given by God never break to humans. Due to several disasters that occur in this world, most of them are the result of human work by not preserving nature and forests so that flooding is easier to occur and also the absence of adequate drainage.

The lack of governance and the internal war is also a reason for the ongoing crisis. It is one among the country that experienced the hard days out of covid-19, because the revenue is much dependent on the tourism. During those days the tourism is completely stopped and there is no revenue for the common people. By the time government too isn't serious about the necessity of the people. They were into poor planning and corrupt. Finally the president is dethroned, but the suffering is experienced by the common people while he have ran away and enjoying the same luxury as the past.

A cowardly move by a leader who left when his country was in chaos and came back after things had calmed down enough. This is not the soul of a leader who should be exemplified because he will easily come and go leaving his obligations to millions of citizens who are in need of certainty. This is where the Sri Lankan people have to open their eyes wide that there are no second chances for this kind of leader. The power is in the hands of the people and if they want to stand on their feet, then turning over a new leaf is a good step, but we have to start from zero at least the old wounds are no longer wide open for an irresponsible leader as before he was sworn in to remain obedient to the people. the benefit of its citizens.

President Gotabaya Rajapaksa that was forced to resign by the protester has returned back to the country. Since the current President has succeeded in cracking down on protests, most of the Rajapaksa family and its supporters who were in hiding are emboldened to return to public politics.

His return was not expected because the country is suffering because of his misdeeds. Maybe he has gotten assurance from the current government that he would not be persecuted or he might be given a soft landing.

Does it mean now that these brave protesters labored in vain?

Would he be held accountable for mismanaging the country's economy?

https://www.aljazeera.com/news/2022/9/2/sri-lankas-gotabaya-rajapaksa-returns-weeks-after-fleeing-island

Corruption is indeed a major problem in undermining state finances. Like Sri Lanka, of course, their level of corruption is extraordinary. but unfortunately a culture of corruption like this is difficult to eradicate, at least it can limit it. even if the government changes, of course the people in power will become greedy for money, indeed not everyone, but most people like money. with the difficulty of fuel oil, of course, making transportation jammed and the economy paralyzed, hopefully this can be a lesson for other countries, especially when inflation is global as it is today

As of now it is the support of World Countries that can help with the resurrection of Sri Lanka. If not, this is gonna be a problem for long. However very few countries are into the helping list, even the World Bank refused to support them. Now with the landing of the China Ship, there arises a problem. This might stop the support from India. Sri Lanka is in a critical position and corruption in the past is now making the people suffer whereas the politicians who are the core for such situation are enjoying life same as before.

They need to be united for them to perform their revolutionary action effectively or else, corrupt officials will only take advantage of their situation. Corruption is the main reason why some countries suffer fr the worst governance and poverty and it is very evident. I hope Sri Lanka would still find a way out of the crisis that they're going through.

22 million people in Srilanka have suffered lengthy blackouts and spiraling cost of living pressure. Months of protest over the financial collapse, culminated in the resignation of the president, Gotabaya Rajapaksa, who was forced to flee his official residence after it was stormed by a huge crowd last month.
The economic crisis is likely to get worse as the country's central bank says that the economic meltdown will result in a record painful contraction of at least 8 percent this year. But people could soon expect some relief from runaway inflation. The central bank says inflation in Srilanka is officially running at 60.8 percent but it will peak at 65 percent in September followed by gradual easing caused by lower demand and improvements in supplies. The government says the foreign exchange shortage that sparked the economic crisis has eased due to better currency inflows and lower imports.

Corruption is a big issue all around the world. Apart from the same Sri Lanka suffered the mismanagement and the internal war between people. If they've united long back, now such a worse scenario could've never come. When there is no unity among the people, the same is used as a way by the rulers to take benefit. Now the new cabinet have made some changes to the policies, hope things turn good. But it takes atleast ten years of time from now.