The impact of Russian and Ukrain war on world economy

[Sithara007]

Countries that had stable economy over the years started to suffer out of the pandemic. Continued by the war have caused a big impact over different country's economy. With perfect plans many countries have overcome it and were on the edge. Even the grown countries suffered big out of it. Slowly one by one getting exploded. Initially Sri Lanka have got exploded and now it is said that Pakistan is in a very critical situation.

Stronger economies can withstand the impact for a longer duration. In countries such as Pakistan and Sri Lanka, the economy was in a perilous situation to begin with. And the sudden hike in oil and gas prices resulted in economic meltdown. As the war continues well in to the winter, we will see similar meltdowns from many other countries. Already inflation is in double-digits in many of the Eurozone nations. Citizens are fed up with sky high energy bills. To complicate things further, manufacturing units are closing down due to the shortage of natural gas.

[Mario Yamasaki]

War is a disaster that can be felt in the long term, many people lose their property and lives because of the war, it even takes at least 2 generations to get rid of the trauma of war, and the most immediate impact of war is the destroyed economy, the supply of goods has stopped, inflation is out of control and many other adverse effects.

[Argoo]

Countries that had stable economy over the years started to suffer out of the pandemic. Continued by the war have caused a big impact over different country's economy. With perfect plans many countries have overcome it and were on the edge. Even the grown countries suffered big out of it. Slowly one by one getting exploded. Initially Sri Lanka have got exploded and now it is said that Pakistan is in a very critical situation.

Stronger economies can withstand the impact for a longer duration. In countries such as Pakistan and Sri Lanka, the economy was in a perilous situation to begin with. And the sudden hike in oil and gas prices resulted in economic meltdown. As the war continues well in to the winter, we will see similar meltdowns from many other countries. Already inflation is in double-digits in many of the Eurozone nations. Citizens are fed up with sky high energy bills. To complicate things further, manufacturing units are closing down due to the shortage of natural gas.

Indeed, Sri Lanka, a country of 22 million people, is experiencing its worst economic crisis since 1948, when the country got out of British control. There is not enough fuel, which the state cannot buy due to rising prices on the world market and the lack of necessary funds. Last week, authorities banned the sale of fuel for all means of transportation except public transport. The country's external debt is more than $50 billion, and there is no more currency in the state reserve. Last month, inflation in the country exceeded 50%, according to the BBC.

The UN states that Sri Lanka is experiencing a "desperate humanitarian crisis." Schools are closed, cancer treatment and other routine medical procedures have been halted, and many families are struggling to get one meal a day.

According to the press service of the Ministry of Economy of Ukraine, in the first half of last year, trade between Ukraine and Sri Lanka amounted to $28.5 million. The basis of Ukraine's exports to the island was agricultural products - vegetables, grains, oilseeds.

Naturally, after the blocking of Ukrainian ports by Russia, the export of Ukrainian products ceased. A month ago, Sri Lanka changed its prime minister. Ranil Wikramasinghe began to negotiate with non-state structures of the Russian Federation in order to buy oil and grain there. In an interview with AP, he said that they are forced to take this step because they believe that the crisis with Ukraine will drag on until 2024. Apparently, the deal never went through.
So the food riots started there. This morning in the capital of Sri Lanka, Colombo, thousands of protesters broke through the police and entered the presidential residence. President Gotabaya Rajapaksa left the residence on Friday and, according to some reports, is trying to fly out of Colombo. The prime minister of the country himself resigned. More than 50 wounded, including policemen, have been admitted to hospitals in Sri Lanka. It is not yet known how this will all end.

[Kakmakr]

The higher inflation is just going to be temporary, until the markets had time to adjust and the governments of the world had balanced the scale with their manipulation of their own local economy with inflation counter measures.

The rich will feel the brunt of the impact, because they will have to pay more taxes to fund these counter measures for the poor. (Social grants / tax subsidy for certain food items / higher interest etc....) 

[DrBeer]

First of all, the war kills the economy of the warring countries. I will not hide the fact that negative trends in the economy are very noticeable in Ukraine, although I confess that I thought it would be much worse.
But it also kills the Russian economy no less, although it seems to pretend to be "stable", which is typical of totalitarian deceitful countries.
But there are nuances here - if the whole adequate world, and this is essentially 70% of the world economy, helps Ukraine, then the same 70% of the world economy impose sanctions against the Russian economy, which has about 1.3% in the world ranking
And after a while the concept of "Russian economy" will become an oxymoron But given its insignificance, this fact will not give rise to noticeable problems.

Now about other countries and parties. I am sure that in the next 2-3 years the situation will be very difficult, in those countries where the rulers did not disdain the money of terrorists, sold and played into their hands by signing laws that made the industry of their countries globally dependent on Russian gas. This means that this will hit the economy of Germany, France, Italy, and I do not rule out Hungary very hard. Other countries, where politicians are not so corrupt, will completely abandon the bloody Russian gas in 1-2 years and switch to alternative suppliers.
Oil and gas producing countries that previously could not significantly enter the European market, on the contrary, will have the opportunity to gain a foothold in it, get good contracts and provide their economies with a stable income for many decades.

But do not forget that most likely in 2023/2024 the world will face another crisis associated, if not with the collapse, then with a very strong contraction of the Chinese economy, and huge internal problems there. Moreover, I do not exclude that in order to "exit" the crisis, the Chinese leadership, like any totalitarian government, will try to find a "solution" in the war. Whether it will be some kind of internal conflict or aggression against Taiwan is not yet ready to say.

Threat Today came a friend from Germany. Lives in Frankfurt. She speaks over the past 2 months, she began to notice that small stores, both grocery and non-grocery, began to close, and earlier this was not so noticeable.

In our country - all businesses are upset. People don't have the capacity to buy grocery also we have noticed people don't leave home unnecessarily due to petrol price hike.
The world economy was in trouble due to COVID and Russia added fuel to fire by initiating the war. We all need peace now - we want to survive in peace, please war lords.

I will now give one explanation, it may not be pleasant, but - as it is!
So - our world is a kind of living organism. Quite recently, in 1939, he fell ill with cancer ... Yes, yes. In terms of the level of negative impact on the whole world, this is cancer! It turned out to be curable, but valuable tens of millions of people killed, hundreds of millions who lost everything, dozens of completely destroyed countries! The bearers of this evil were Nazi Germany and the communist USSR. The world then managed to escape from this horror. BUT ! The world mistook the USSR for a healthy cell very mistakenly. But we remember that - this is the same cancer that struck the world in 1939. But this carrier of the disease, due to the softness of the world, managed to more or less comfortably coexist for a long time and accumulate strength. He began to give the first metastases back in the late 1990s - the PMR, Ichkeria, then there were Georgia, and now Ukraine! As well as threats to Poland, Latvia, Lithuania, Estonia, and other countries with almost a nuclear strike.

Yes, we all want peace (to be a healthy world). But if we leave the cancer cells of Nazism/RashiZm this time, then our children and grandchildren will die from it. Now we have to go through a difficult therapy in order to permanently get rid of the carriers of these cancer cells of rashism, and the disease of the "Russian world" in general. Either we isolate and destroy them, or next time we will get a fatal disease that will end in a real nuclear war and there will be neither us, nor the world, nothing ....
Well - do we pause in treatment? Let's give cancer/"Russian world" a chance? So that he is guaranteed to kill our children and grandchildren and everything on earth in 5-10-20 years?

[tippytoes]

The higher inflation is just going to be temporary, until the markets had time to adjust and the governments of the world had balanced the scale with their manipulation of their own local economy with inflation counter measures.

The rich will feel the brunt of the impact, because they will have to pay more taxes to fund these counter measures for the poor. (Social grants / tax subsidy for certain food items / higher interest etc....)  

For now, we can't avoid this inflation from happening especially we are still in crisis brought about by the covid pandemic and this Russia-Ukraine war. People are suffering around the globe, not only one or two, but this situation is happening everywhere. As we can't escape from this reality, what we can do is help ourself survive in these challenging times. Don't blame your government, much better if you will find your options how to keep afloat and not rely from anyone.

[Ozero]

The war between Russia and Ukraine had a bigger impact on world economy then i was thinking it was gonna have. Inflation raised a lot in all of the countries around the world and i think Europe lost a lot with this war. In my country a lot of prices really went up. For gas i dont want even to talk about how much the price went up. Hopefully when things get to normal maybe the economy will recover.

Of course, the applied sanctions simultaneously hit the countries that impose them. But their meaning is to, through some voluntary restrictions, cause significant harm to the economy of the state, which will be subject to sanctions. In this case, it concerns sanctions against Russia. But for some reason you do not mention the consequences of the applied sanctions on Russia itself. In a year or two, Russia will turn into a third-rate country with a backward economy. Most likely, it will also not have oil and gas, because the central Russian part does not have them. Russia exploits the indigenous peoples of Siberia and the Far East, from where it pumps their oil and gas. In the aftermath of the military defeat in Ukraine, they are already raising their heads to free themselves from the dependence of the Kremlin. And they will most likely succeed.
Having unleashed a war of conquest in Ukraine, Russia itself has signed its own death warrant. They apparently forgot that all the wars Russia won only together with the Ukrainians.

[be.open]

The war between Russia and Ukraine had a bigger impact on world economy then i was thinking it was gonna have. Inflation raised a lot in all of the countries around the world and i think Europe lost a lot with this war. In my country a lot of prices really went up. For gas i dont want even to talk about how much the price went up. Hopefully when things get to normal maybe the economy will recover.

Of course, the applied sanctions simultaneously hit the countries that impose them. But their meaning is to, through some voluntary restrictions, cause significant harm to the economy of the state, which will be subject to sanctions. In this case, it concerns sanctions against Russia. But for some reason you do not mention the consequences of the applied sanctions on Russia itself. In a year or two, Russia will turn into a third-rate country with a backward economy. Most likely, it will also not have oil and gas, because the central Russian part does not have them. Russia exploits the indigenous peoples of Siberia and the Far East, from where it pumps their oil and gas. In the aftermath of the military defeat in Ukraine, they are already raising their heads to free themselves from the dependence of the Kremlin. And they will most likely succeed.
Having unleashed a war of conquest in Ukraine, Russia itself has signed its own death warrant. They apparently forgot that all the wars Russia won only together with the Ukrainians.

Why wait a year or two, even before the sanctions, Russia was a third-rate country with a backward economy. Now it is not yet obvious to an idiot that the sanctions have made Russia stronger, and it is Europe that suffers from them. But the main problem with sanctions is that they are not able to stop the Russian military special operation in Ukraine. What rate and size of economy will Ukraine be in a year or two, when it is already bankrupt?

[Sithara007]

Why wait a year or two, even before the sanctions, Russia was a third-rate country with a backward economy. Now it is not yet obvious to an idiot that the sanctions have made Russia stronger, and it is Europe that suffers from them. But the main problem with sanctions is that they are not able to stop the Russian military special operation in Ukraine. What rate and size of economy will Ukraine be in a year or two, when it is already bankrupt?

LOL.. reports coming in that PMC Wagner has captured parts of Bakhmut (Artyomovsk) yesterday. DNR militia meanwhile have captured half of Pisky (near airport). And the much hyped counter-offensive in Kherson has stalled. Another proof of the alleged success of anti-Russian sanctions.

BTW, NATO is getting more and more desperate. They asked Azerbaijan to attack Armenian forces in Nagorno Karabakh, to create another front against Russia. From what I heard, Azeri forces captured a few villages and a number of Armenian soldiers were killed in drone attacks. There are thousands of Russian peacekeepers in Karabakh. If the Azeris attack them, then it is not going to end well for Azerbaijan.

[be.open]

BTW, NATO is getting more and more desperate. They asked Azerbaijan to attack Armenian forces in Nagorno Karabakh, to create another front against Russia. From what I heard, Azeri forces captured a few villages and a number of Armenian soldiers were killed in drone attacks. There are thousands of Russian peacekeepers in Karabakh. If the Azeris attack them, then it is not going to end well for Azerbaijan.

I'm more concerned about the outbreak of ethnic conflict between Albanians and Serbs in Kosovo. Russia is weakly involved in the Karabakh conflict emotionally, but the Serbs and Russian brothers are forever, and if the Serbs begin to be cut in Kosovo, this will probably result in a direct conflict between Russia and NATO. If NATO wants to fight Russia, they know what to do.

[tygeade]

Sri Lanka, a country of 22 million people, is experiencing its worst economic crisis since 1948, when the country got out of British control. There is not enough fuel, which the state cannot buy due to rising prices on the world market and the lack of necessary funds. Last week, authorities banned the sale of fuel for all means of transportation except public transport. The country's external debt is more than $50 billion, and there is no more currency in the state reserve. Last month, inflation in the country exceeded 50%, according to the BBC.

The UN states that Sri Lanka is experiencing a "desperate humanitarian crisis." Schools are closed, cancer treatment and other routine medical procedures have been halted, and many families are struggling to get one meal a day.

It’s such a weird feeling to see a nation that would do better if it wasn't for corruption and wealth gap, end up being like this. My nation has a lot more inflation than Sri Lanka, well "had" but now it is worse over there, and the fuel prices are a lot bigger here, and the national debt is even bigger and we do not have anything in the treasury neither, but we do not have people uprising.

Meaning that, even though our nation is as corrupt as the next guy, Sri Lankas also had a wealth gap that wasn't understandable, if you have 10 people living like kings when millions starve on the streets, then you are going to get riots and there is no way of avoiding that at all.

[Sithara007]

BTW, NATO is getting more and more desperate. They asked Azerbaijan to attack Armenian forces in Nagorno Karabakh, to create another front against Russia. From what I heard, Azeri forces captured a few villages and a number of Armenian soldiers were killed in drone attacks. There are thousands of Russian peacekeepers in Karabakh. If the Azeris attack them, then it is not going to end well for Azerbaijan.

I'm more concerned about the outbreak of ethnic conflict between Albanians and Serbs in Kosovo. Russia is weakly involved in the Karabakh conflict emotionally, but the Serbs and Russian brothers are forever, and if the Serbs begin to be cut in Kosovo, this will probably result in a direct conflict between Russia and NATO. If NATO wants to fight Russia, they know what to do.

In both cases, it is Turkey who is acting as a provocateur. The sick man of Europe needs to be dealt with once and forever. As a first step, Russia can provide modern weapons to PKK rebels who are fighting against Turkey. Also, Russia need to place nuclear-tipped missiles in Armenia, in order to prevent any Turkish misadventure. They committed genocide against Greeks, Armenians and Assyrians, in which 3-4 million people were killed. Nazis paid for their genocide against the Jews. Turks also need to pay.

[be.open]

In both cases, it is Turkey who is acting as a provocateur. The sick man of Europe needs to be dealt with once and forever. As a first step, Russia can provide modern weapons to PKK rebels who are fighting against Turkey. Also, Russia need to place nuclear-tipped missiles in Armenia, in order to prevent any Turkish misadventure. They committed genocide against Greeks, Armenians and Assyrians, in which 3-4 million people were killed. Nazis paid for their genocide against the Jews. Turks also need to pay.

Russia and Turkey have historically very complicated, contradictory and interesting relations. The current head of Turkey is a vivid example of a politician who simultaneously manages to sit with one ass not even on two, but on 3-4 chairs. For example, Turkey is a NATO member and supplies attack drones to Ukraine, but at the same time refrains from sanctions against Russia and welcomes Russian tourists in every possible way at its resorts. In recent history, there was an episode with a Russian plane shot down by Turkey, and a "tomato" war, in short, everything here is very interesting, confusing and complicated.

As recently as today, Erdogan met with Putin in Sochi, the details of their conversation are unknown to me.

[DrBeer]

Why wait a year or two, even before the sanctions, Russia was a third-rate country with a backward economy. Now it is not yet obvious to an idiot that the sanctions have made Russia stronger, and it is Europe that suffers from them. But the main problem with sanctions is that they are not able to stop the Russian military special operation in Ukraine. What rate and size of economy will Ukraine be in a year or two, when it is already bankrupt?

LOL.. reports coming in that PMC Wagner has captured parts of Bakhmut (Artyomovsk) yesterday. DNR militia meanwhile have captured half of Pisky (near airport). And the much hyped counter-offensive in Kherson has stalled. Another proof of the alleged success of anti-Russian sanctions.

BTW, NATO is getting more and more desperate. They asked Azerbaijan to attack Armenian forces in Nagorno Karabakh, to create another front against Russia. From what I heard, Azeri forces captured a few villages and a number of Armenian soldiers were killed in drone attacks. There are thousands of Russian peacekeepers in Karabakh. If the Azeris attack them, then it is not going to end well for Azerbaijan.

It is foolish to argue that Russian propaganda generates a lot of "positive" fakes to calm the biomass of Russians, who on February 24, 2022 firmly believed that in 2-4 weeks Ukraine would be completely captured, power would be replaced by Russian puppets whether not daily, change, "the most accurate information" and "objective goals"
In early March, we heard that there were "a couple of days" left before the change of power in Ukraine. Then, after a shameful, cowardly defeat near Kyiv, we suddenly find out that "there was no goal to capture Kyiv" Then we learned, after the total failure of the "special operation", that there were no goals to seize territories beyond the administrative borders of the Donetsk and Luhansk regions of Ukraine. Then we learned that "all aviation of Ukraine was destroyed", but the air strikes against the terrorist troops of Russia continued and intensified Now the Kremlin is screaming from the fact that they need a pause and are trying to do everything so that Ukraine agrees to sit down at the negotiating table, but none of this does not work
The "second army in the world" turned out to be a fake and a collection of ordinary consumables. The bunker miserable creature is hysterical and is looking for ways to negotiate, because the economy is "bursting at the seams" and the army is demoralized and almost defeated! The only thing that has been possible so far is to throw the defense lines of the Ukrainian army with the corpses of Russians
And Lendlis is on the way, which 80 years ago helped destroy fascism / Nazism, and now it will destroy rashism

[goaldigger]

In both cases, it is Turkey who is acting as a provocateur. The sick man of Europe needs to be dealt with once and forever. As a first step, Russia can provide modern weapons to PKK rebels who are fighting against Turkey. Also, Russia need to place nuclear-tipped missiles in Armenia, in order to prevent any Turkish misadventure. They committed genocide against Greeks, Armenians and Assyrians, in which 3-4 million people were killed. Nazis paid for their genocide against the Jews. Turks also need to pay.

Russia and Turkey have historically very complicated, contradictory and interesting relations. The current head of Turkey is a vivid example of a politician who simultaneously manages to sit with one ass not even on two, but on 3-4 chairs. For example, Turkey is a NATO member and supplies attack drones to Ukraine, but at the same time refrains from sanctions against Russia and welcomes Russian tourists in every possible way at its resorts. In recent history, there was an episode with a Russian plane shot down by Turkey, and a "tomato" war, in short, everything here is very interesting, confusing and complicated.

As recently as today, Erdogan met with Putin in Sochi, the details of their conversation are unknown to me.

Turkey is playing the best possible way to stay in a good position, they can’t afford to join any sanctions because they know they will suffer as well. With the recent activity in many countries, we can say that many are just trying to avoid any conflict and trying to save their own economy which currently, Turkey is suffering from a big inflation after 24years. Russian war affected the world, and with the recent activity of China against Taiwan, this is another red flag for us to stay cautious and see how the world market reacts on this.

[samcrypto]

Turkey is playing the best possible way to stay in a good position, they can’t afford to join any sanctions because they know they will suffer as well. With the recent activity in many countries, we can say that many are just trying to avoid any conflict and trying to save their own economy which currently, Turkey is suffering from a big inflation after 24years. Russian war affected the world, and with the recent activity of China against Taiwan, this is another red flag for us to stay cautious and see how the world market reacts on this.

Many countries don't want to participate on putting sanctions against Russia but still they are against the action of Russia to declare war with Ukraine, this still a sad situation where the world should care and be affected. Well, the rising tension with China, Taiwan and USA is another big concern and probably my country is at risk as well since we are close to Taiwan and our sea might be a battle ground if ever. Hopefully, they can settle this one and China should not make any action because for sure, it will be a deadly war again which is a big concern for Asian countries.

[Sithara007]

In both cases, it is Turkey who is acting as a provocateur. The sick man of Europe needs to be dealt with once and forever. As a first step, Russia can provide modern weapons to PKK rebels who are fighting against Turkey. Also, Russia need to place nuclear-tipped missiles in Armenia, in order to prevent any Turkish misadventure. They committed genocide against Greeks, Armenians and Assyrians, in which 3-4 million people were killed. Nazis paid for their genocide against the Jews. Turks also need to pay.

Russia and Turkey have historically very complicated, contradictory and interesting relations. The current head of Turkey is a vivid example of a politician who simultaneously manages to sit with one ass not even on two, but on 3-4 chairs. For example, Turkey is a NATO member and supplies attack drones to Ukraine, but at the same time refrains from sanctions against Russia and welcomes Russian tourists in every possible way at its resorts. In recent history, there was an episode with a Russian plane shot down by Turkey, and a "tomato" war, in short, everything here is very interesting, confusing and complicated.

As recently as today, Erdogan met with Putin in Sochi, the details of their conversation are unknown to me.

Here is my take on this:

Turkey has some differences with other NATO members, especially on the issue of PKK. But at the same time, they realize that Russia is their no.1 enemy. But the difference is that Erdoğan is very shrewd. He knows how to play here. Most of the oil and gas supplies come from Russia and Turkey is also dependent on Russian tourists for revenue. So even if he hates Russia and do everything he could to destroy Russia from behind, he doesn't want a direct and open confrontation with the Russians.

The same is the case with Russia. They know that the ultimate aim of Turkey is to capture parts of Russia (such as the Turkic republics of Tatarstan and Bashkortostan), but for short term gains they are keeping a working relationship with Turkey. I want to see for how long this game of cat and mouse is going to continue. 

[be.open]

Turkey is playing the best possible way to stay in a good position, they can’t afford to join any sanctions because they know they will suffer as well. With the recent activity in many countries, we can say that many are just trying to avoid any conflict and trying to save their own economy which currently, Turkey is suffering from a big inflation after 24years. Russian war affected the world, and with the recent activity of China against Taiwan, this is another red flag for us to stay cautious and see how the world market reacts on this.

Yep. Turkey has driven itself into a difficult economic situation, primarily due to the absolutely mediocre monetary policy of its Central Bank (or even Erdogan personally, who replaced several leaders of the Central Bank who disagreed with his vision of the situation). Technically, Turkey is now experiencing hyperinflation, perhaps not galloping.

Here is my take on this:

Turkey has some differences with other NATO members, especially on the issue of PKK. But at the same time, they realize that Russia is their no.1 enemy. But the difference is that Erdoğan is very shrewd. He knows how to play here. Most of the oil and gas supplies come from Russia and Turkey is also dependent on Russian tourists for revenue. So even if he hates Russia and do everything he could to destroy Russia from behind, he doesn't want a direct and open confrontation with the Russians.

The same is the case with Russia. They know that the ultimate aim of Turkey is to capture parts of Russia (such as the Turkic republics of Tatarstan and Bashkortostan), but for short term gains they are keeping a working relationship with Turkey. I want to see for how long this game of cat and mouse is going to continue. 

I have no illusions about Russian-Turkish friendship, because there is no other country in the world with which Russia would fight more often than with Turkey. But Erdogan's policy is respected, if only by the fact that he is trying to pursue the interests of Turkey, in contrast to the leaders of Europe, who for the most part did not give a damn about their countries and pursue the interests of the United States. If you look at the location of US military bases in Europe, then technically the EU is a territory occupied by the US.

[KennyR]

In both cases, it is Turkey who is acting as a provocateur. The sick man of Europe needs to be dealt with once and forever. As a first step, Russia can provide modern weapons to PKK rebels who are fighting against Turkey. Also, Russia need to place nuclear-tipped missiles in Armenia, in order to prevent any Turkish misadventure. They committed genocide against Greeks, Armenians and Assyrians, in which 3-4 million people were killed. Nazis paid for their genocide against the Jews. Turks also need to pay.

Russia and Turkey have historically very complicated, contradictory and interesting relations. The current head of Turkey is a vivid example of a politician who simultaneously manages to sit with one ass not even on two, but on 3-4 chairs. For example, Turkey is a NATO member and supplies attack drones to Ukraine, but at the same time refrains from sanctions against Russia and welcomes Russian tourists in every possible way at its resorts. In recent history, there was an episode with a Russian plane shot down by Turkey, and a "tomato" war, in short, everything here is very interesting, confusing and complicated.

As recently as today, Erdogan met with Putin in Sochi, the details of their conversation are unknown to me.

Turkey is playing the best possible way to stay in a good position, they can’t afford to join any sanctions because they know they will suffer as well. With the recent activity in many countries, we can say that many are just trying to avoid any conflict and trying to save their own economy which currently, Turkey is suffering from a big inflation after 24years. Russian war affected the world, and with the recent activity of China against Taiwan, this is another red flag for us to stay cautious and see how the world market reacts on this.

Throughout the world the same scenario is prevailing. Every country wants them to be in the safer side, already few countries have hit hard and few more on the list. Anytime scenario can worsen. Right now Pakistan, Turkey, and few African nations are under hard inflation. Russia war is a big reason and being on the top with the oil wealth it has made itself strong to withstand any hard time.

[Smack That Ace]

~~
So the food riots started there. This morning in the capital of Sri Lanka, Colombo, thousands of protesters broke through the police and entered the presidential residence. President Gotabaya Rajapaksa left the residence on Friday and, according to some reports, is trying to fly out of Colombo. The prime minister of the country himself resigned. More than 50 wounded, including policemen, have been admitted to hospitals in Sri Lanka. It is not yet known how this will all end.

The root cause of Sri Lanka's default was due to the domestic political crisis, the wrong policies of the old government that caused the economy to go down, and the insatiably corrupt government that left the country with no foreign currency to import energy caused the country to default on its debt, not because of the war between Russia and Ukraine.

After going through a pandemic, the world entered a crisis and war made things worse, small countries and undeveloped economies are on the verge of a severe recession.