Sri Lanka Economic Crisis is Getting Worse

[bitgov]

The newly formed government need to work in a much faster way to tackle the prevailing situation which is at the worst. Sri Lanka to recover as the past will take decades. Even with loans it isn't possible, because right now the inflation have peaked along with the shortage of basic needs of life. One by one things can be retained, but when the focus is made over specific subject the other gets affected.

Sri Lanka will survive - the footages and pictures are obviously disturbing, but what has made people so aggressive that they have move the game of politics and threw all the politician out of the palaces.
The world is in so much chaos - the inflation - COVID- War - political instability. This is adding on more trouble to the people problem

[1714222147]

1714222147

[1714222147]

1714222147

[1714222147]

1714222147

[1714222147]

1714222147

[1714222147]

1714222147

[1714222147]

1714222147

[landheer]

I am also concerned about this news, I hope the Sri Lankan economy will improve and progress quickly. and what makes me sad is that there are many other countries whose economies are down. and now many companies are closing, and finally unemployment is increasing in the world. I hope that in the future the world economy will rise again and progress

[Sithara007]

I am also concerned about this news, I hope the Sri Lankan economy will improve and progress quickly. and what makes me sad is that there are many other countries whose economies are down. and now many companies are closing, and finally unemployment is increasing in the world. I hope that in the future the world economy will rise again and progress

The root cause for all this is populist policies from the governments who focus only on short-term benefit. During the last decade or so, regimes all over the world have been experimenting with the method of "cash for votes". Even conservative parties such as GOP in the US, NDA in India and the Tories in the UK have resorted to this tactic. Budget deficit widens beyond unsustainable limits as a result of this reckless spending and hard working people feel demotivated after being slapped with more and more taxes. This situation is not sustainable in the long term.

[bitgov]

I am also concerned about this news, I hope the Sri Lankan economy will improve and progress quickly. and what makes me sad is that there are many other countries whose economies are down. and now many companies are closing, and finally unemployment is increasing in the world. I hope that in the future the world economy will rise again and progress

The root cause for all this is populist policies from the governments who focus only on short-term benefit. During the last decade or so, regimes all over the world have been experimenting with the method of "cash for votes". Even conservative parties such as GOP in the US, NDA in India and the Tories in the UK have resorted to this tactic. Budget deficit widens beyond unsustainable limits as a result of this reckless spending and hard working people feel demotivated after being slapped with more and more taxes. This situation is not sustainable in the long term.

I think what the news say is not the everything. For example there is the same kind of political turmoil going on in Pakistan since April 2022.
If you happen to see there are so many videos and footages of people protesting on the streets till that day. Upon asking a Pakistani friend. He said things are fine but we gather on the call of our former PM Imran Khan. So let's wait an watch what happens next.

[Wakate]

The country is getting better now that they have replaced the old president with new one. At least things should start getting better with time as the new president fix what the former could not fix. It was a big freedom for the country to send out the old government out with all courage by the citizen because they were tired of what they are facing everyday. The new government should be able to fix what the old one could not do and plan for the better achievements.

[Smartvirus]

Once more, revolution has been used to fix bad governance even if its still far from resolving the problem with there economy but at least, it was good for a start. There dramatic occupancy of the Presidential villa is a show that is sure to go down in history as the moment the people exercised there power. Having tourism for a major source of revenue generation doesn't help so much hence, they've got to try and see what thy could export to hasten the recovery of there economy. Following the pandemic, I guess they stopped getting tourist around and in this era of crisis.
Corruption is no good for any nation and the sooner other nations that are dealing with this realises it, the better chance they would have of a recovery.

[MCobian]

The country is getting better now that they have replaced the old president with new one. At least things should start getting better with time as the new president fix what the former could not fix. It was a big freedom for the country to send out the old government out with all courage by the citizen because they were tired of what they are facing everyday. The new government should be able to fix what the old one could not do and plan for the better achievements.

Ranil Wickremesinghe has been officially sworn in as the new President of Sri Lanka. Hopefully he can solve the problems in Sri Lanka,
and not repeat the mistakes made by Gotabaya Rajapaksa. Moreover, Wickremesinghe is a politician who has international experience,
so Wickremesinghe should be able to solve Sri Lanka's very serious economic problems. Now people of Sri Lanka are hoping for a significant
improvement after Wickremesinghe's election as President. We will see in the next few weeks what policies Wickremesinghe will take to
resolve the economic crisis in Sri Lanka. Ranil Wickremesinghe has served 6 times as prime minister, so it should have understood correctly
how it should run the government properly.

[usekevin]

It will impact the other nation economy in the short period of time.The economy of all the countries are dependent on each other.In a single statement,it’s the world economy prevails now and not the state owned economy.United States should look into this issue,since they are supporting country of Sri lanka and owned their post in the Srilanka .To prevent the United State supremacy,they need to check this issues.

[CageMabok]

I think what the news say is not the everything. For example there is the same kind of political turmoil going on in Pakistan since April 2022.
If you happen to see there are so many videos and footages of people protesting on the streets till that day. Upon asking a Pakistani friend. He said things are fine but we gather on the call of our former PM Imran Khan. So let's wait an watch what happens next.

Do you also have friends in Sri Lanka ? because from the news I'm reading at the moment, he said The number of Sri Lankans trying to escape to Australia by boat has increased dramatically in the midst of the country's economic crisis. @news.detik.com So I can only read the news without being able to ask the people there and can't watch it live for now.

[bitgov]

I think what the news say is not the everything. For example there is the same kind of political turmoil going on in Pakistan since April 2022.
If you happen to see there are so many videos and footages of people protesting on the streets till that day. Upon asking a Pakistani friend. He said things are fine but we gather on the call of our former PM Imran Khan. So let's wait an watch what happens next.

Do you also have friends in Sri Lanka ? because from the news I'm reading at the moment, he said The number of Sri Lankans trying to escape to Australia by boat has increased dramatically in the midst of the country's economic crisis. @news.detik.com So I can only read the news without being able to ask the people there and can't watch it live for now.

Siri lanka will survive and there is no way they are going to collapse ....
stop creating rumors that that country is going to collapse while the other will survive

[Lubang Bawah]

Sri Lanka experienced a sad crisis, many Sri Lankan people chose to leave the country and head to Australia or the country that they thought could provide a better life, of course a large country must be actively involved to resolve the crisis in Sri Lanka because if left unchecked it will experience a humanitarian crisis worse.

[Sithara007]

Sri Lanka experienced a sad crisis, many Sri Lankan people chose to leave the country and head to Australia or the country that they thought could provide a better life, of course a large country must be actively involved to resolve the crisis in Sri Lanka because if left unchecked it will experience a humanitarian crisis worse.

Sir Lanka will bounce back.
They are strong people and they have great natural resources this is the tough time - but they will come out of this trouble very soon.

Sri Lanka was dependent on a few sectors, such as farming and tourism. They fucked up farming sector by insisting on organic farming. Sri Lanka used to export rice, tea.etc, but the production is down now. And tourism was impacted by decades of civil war. They need to diversify their economy and make use of their strategic position in the Indian Ocean, which is close to the international shipping routes. They made some moves in the right direction, by investing heavily on Hambantota and Galle ports, but the marine traffic never picked up due to a variety of issues.

[Bitcoin2009]

Sri Lanka experienced a sad crisis, many Sri Lankan people chose to leave the country and head to Australia or the country that they thought could provide a better life, of course a large country must be actively involved to resolve the crisis in Sri Lanka because if left unchecked it will experience a humanitarian crisis worse.

Sir Lanka will bounce back.
They are strong people and they have great natural resources this is the tough time - but they will come out of this trouble very soon.

We hope so, they are used to difficult things, ranging from war, food crisis, economy and so on, but they can rise up, but for now they really need international help, the first thing that is easy to do is supply oil to make the economy return to normal .

[Mario Yamasaki]

I've been to sri lanka and they have good tourism potential, beautiful beaches make me want to go back to sri lanka, i'm sad to see sri lanka's current condition and invite anyone to actively help sri lanka, the presence of cryptocurrencies can certainly be a solution to make it easier for them.

[Republikcoin.com]

Sri Lanka experienced a sad crisis, many Sri Lankan people chose to leave the country and head to Australia or the country that they thought could provide a better life, of course a large country must be actively involved to resolve the crisis in Sri Lanka because if left unchecked it will experience a humanitarian crisis worse.

It is very natural for them (Sri lankans) to flee from their country to other countries in order to survive because they are not only fighting hunger, but also struggling to stay alive and still want to enjoy this beautiful world.

Sir Lanka will bounce back.
They are strong people and they have great natural resources this is the tough time - but they will come out of this trouble very soon.

Large natural resources will not guarantee a country can prosper well if there are no humans or citizens who are able to manage each of these natural resources.
Because natural resources will be useful when there are humans who also have the resources to manage them properly because human resources are also very important to manage existing natural resources.

We hope so, they are used to difficult things, ranging from war, food crisis, economy and so on, but they can rise up, but for now they really need international help, the first thing that is easy to do is supply oil to make the economy return to normal .

It is still possible for them to get up, but not quickly because for now they need time to get back up and also need food assistance, and others to be able to run a temporary life.
Even though they are used to hardships, but if the life they feel is still too painful, it will also make it difficult for them to realize economic revival and life in their country.

[hyudien]

Sir Lanka will bounce back.
They are strong people and they have great natural resources this is the tough time - but they will come out of this trouble very soon.

Have you ever considered from multiple perspectives the case where Sri Lanka if they had resources that were 100% controlled by them, how they could be so heavily in debt that they couldn't even turn on the electricity? Blackouts are everywhere and based on the OP's narrative, it's very difficult if Sri Lanka can recover in a short period of time. I know Sri Lankans are strong people, but that's not the only thing driving a revival if it's not backed by stable financial resources.

[raidarksword]

This is the worst kind to happen in a country wherein government a lost it all because of high inflation effect and the direct be affected are all the citizens especially low class people in Sri Lanka. That's why inflation is never be a good and I hope Sri Lankans can bear this tragic events in their county and they can recover slowly.

[Sang Prabu]

The debt that became the beginning of the Sri Lankan disaster, when Sri Lanka failed to pay made many countries not want to care and cooperate with Sri Lanka, of course this is a serious problem that needs international assistance, if it is not resolved immediately there will be a humanitarian tragedy such as death due to hunger.

[Smack That Ace]

Sir Lanka will bounce back.
They are strong people and they have great natural resources this is the tough time - but they will come out of this trouble very soon.

Have you ever considered from multiple perspectives the case where Sri Lanka if they had resources that were 100% controlled by them, how they could be so heavily in debt that they couldn't even turn on the electricity? Blackouts are everywhere and based on the OP's narrative, it's very difficult if Sri Lanka can recover in a short period of time. I know Sri Lankans are strong people, but that's not the only thing driving a revival if it's not backed by stable financial resources.

Sri Lanka's strength is agriculture and tourism but now everything is ruined, the blackout happened because they ran out of foreign currency and could not afford to import energy.

Recently, the World Bank (WB) refused to provide more money to Sri Lanka and this is a sad thing. What is needed now is that they work to show the world that they can change the status quo, so that the World Bank and the IMF can provide other loans to them. I pray that with their will and energy they will overcome this ordeal.

[inthelongrun]

Now China and India are contesting who's to save Sri Lanka from sinking deeper. But the Chinese have more money to offer although with high interests but there is nothing Sri Lanka can do as they need immediate assistance otherwise trouble will start once again. The Chinese also have remaining high stakes in the country and have control of a big port and probably more establishments and projects there, so it is most likely that the Sri Lankan government will allow them to dictate a recovery plan. I only hope that the Chinese will not deploy warships, warplanes, and military in the country because it will cause more trouble with neighboring India.