Sri Lanka Crisis Who is responsible for the bankruptcy of Sri Lanka Situation or government Understand in simple words
By Lokmat English Desk | Published: July 11, 2022 06:27 PM2022-07-11T18:27:04+5:302022-07-11T18:27:04+5:30
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In Sri Lanka, the entire system is currently falling apart. The people have taken to the streets as the anger of the citizens has erupted due to inflation. As the situation got out of hand, important leaders of the country have fled the country. The country is in a state of chaos.
Citizens of the country have now taken on the role of protesters and have also occupied the Rashtrapati Bhavan. Preventing citizen discontent is no longer in anyone's hands. Sri Lanka has become an economic crisis and a political crisis. President Gotbaya Rajapaksa is ready to resign.
The situation in Sri Lanka, which has been ravaged by the economic crisis for the past few months, became even more serious on Saturday. Thousands of protesters marched towards the Rashtrapati Bhavan. On the same day, protesters also set fire to the Prime Minister's private residence.
President Gotabaya Rajapaksa has also fled to an unknown location. The president is also set to step down.
According to Sri Lanka's constitution, if the president resigns, the prime minister can become the country's acting president. Until a new president is elected. Until then, the prime minister can serve as acting president. But the Sri Lankan prime minister also resigned
According to Sri Lanka's constitution, if both the President and the Prime Minister resign, the Speaker of the House can become the Acting President for 30 days. Given the current situation in Sri Lanka, Speaker Abewardena will now become acting president. But within 30 days to Parliament
Sri Lanka, with a population of 22 crore, is going through the worst economic situation since its independence. There is also a severe shortage of basic necessities like food, grains and medicines. The garbage needed to prepare the meal
Millions have taken to the streets over the past few months. People are demanding the resignation of the Prime Minister and the President as the country is facing an economic crisis. Prime Minister Mahinda Rajapaksa resigned in May when people started protesting directly from the streets
The situation in Sri Lanka has become so dire that schools across the country have been forced to close. Petrol-diesel is being provided only for essential services. There is a dire situation that even patients cannot reach the hospital as they are not in petrol-diesel vehicles.
The number of trains has also been reduced due to the deteriorating economic situation. So people are traveling by train. People in other important cities, including the capital Colombo, have been queuing for hours to buy petrol and diesel.
After the arrival of Mahendra Rajapaksa's government in 2015, the growing closeness with China became dangerous for the country. China also lent billions of rupees to Sri Lanka in the name of infrastructure. Billions of rupees borrowed from China are also a major factor behind Sri Lanka's economic woes
The foreign debt on Sri Lanka was increasing day by day. According to the country's central bank, the country had a debt of २१ 21.6 billion in 2010. In 2016, it increased to. 46.6. Sri Lanka currently has a debt of over डॉलर 51 billion.
Higher debt and lower incomes have drained Sri Lanka's coffers of foreign exchange. In April 2018, Sri Lanka had about डॉलर 10 billion in foreign exchange. By May 2022, it has shrunk to just 1.7 billion.
Tourism has been a major contributor to Sri Lanka's economy. Corona caused a major break in Sri Lankan tourism. Tourism and related items account for about 10 per cent of Sri Lanka's GDP. Foreign exchange due to decline in the number of foreign tourists
