Sri Lanka: A Paradise in flames

The island nation of Sri Lanka is facing the gravest political and economic crisis since its independence in 1948. President gota bhaiya Rajasthan relating protest by the people of Sri Lanka cutting across ethnic divisions that have, for decades, defined the social fabric of the island nation.

What's worse is that the unprecedented economic turmoil is threatening to push the country into a deep or economic morass, pulling in its wake lakhs of Sri Lankans into poverty and economic ruins.

With inflation at an official 55% (and around 100% unofficially), lakhs of Sri Lankans are battling debilitating hunger, long electricity blackouts, and a serious shortage of fuel and life saving drugs.

Impact of Covid Pandemic on the Lankan Economy

Sri Lanka earns a significant chunk of foreign exchange (forex) from tourism,  exports of tea and spices, and remittances ( money sent to home country by its nationals working abroad).

Outbreak of the covent deeply dented in the forex earnings of Sri Lanka as a dream a blank from tourism swamigal remittances (as people either lost jobs of work for lower pay), and saw significant drop in export revenues. The huge drop in forex earnings also impact in the countries ability to pay for its imports (especially of essentials like petroleum). This inability to pay lead to a deep drop in the supply of fuel and other essential items (as imports fell due to low forex reserves).