Sri Lanka economic crisis

Sri Lanka is a country which is in Indian ocean and it is basically an island type country .Native people of Sri Lanka are facing the unwilling situation they are struggling very hard for their survival they are seeking help from the world but everyone is saying nothing

The question here is only for humanity humans should show some kindness towards other human being it is the time to workout for the people who are paying hard time in Sri Lanka we should raises our voices from where ever we can raise so should do justice at least with the humanity if we could not do anything financially means , if we could not help them through money or something like this we should help them by saying our support and by making people aware from their struggle so that people who are unaware about the recent condition which is going on in Sri Lanka

Economic crisis:

Economic crisis is a type of crisis in which a country faces the loss in finance and it fails to manage their country funds they do not even import and export and at the end it effect every sector wether it is agriculture , medicine or something else .

When a country faces economic crisis it proves to be the worst time for that country because for reaching at the previous level the country has to do work day and night and it is impossible without the help of the natives when the nation helps his country then the times come when a country makes his status and can mark it's name in the world with golden pen .

Sri Lanka is facing economic crisis RightNow the condition of people of Sri Lanka is highly miserable the rates , prices of different items have been raised from past days and people could not afford the items even it is the Ramadan time .the one cup of tea 🍵 is selling at the price of 100 the price of one kilo gram rice is 500 Sri Lankan rupees only 400 gram of milk powder has touched the price of 790 rupees these prices can easily indicate that how much the people of Sri Lanka are facing the crisis and through which phase they all are going on .

No finance:-

Sri Lanka has no balance for any type of import now , the economy of Sri Lanka mostly runs through tourism and they import even little things like oil, sugar, food items , papers and medicine etc and that is how they were managing in previous years by import.

March analysis :

In March the country left with just 2.36million dollars which were insufficient to run the whole country and through estimate it was assuming that it would not be enough for just 14 days and the same happen for which everyone was fearing and the whole country moved to crisis in March the country not even has the balance for ink and for pen

Electricity cut off:-

In Sri Lanka electricity has been totally off from past days and people were seeking for light to come even there were cases where most of the people fight for the fuel . Electricity has been cut off just to save the remaining fuel because the country has no stock of fuel and the condition is such that they could not even import fuel from any other country because they have no assets .there is also so many people who made their food with the help of oil and they could not accommodate now even they have not any stock of crude oil the only stock which they have has also been finished now the government is wondering about what to do ? Or what should be their next step ?

Exam cancelled:

As in the previous lines there was written about ink and paper that in Sri Lanka they import almost everything like paper so it was the time of final examinations in Sri Lanka and the government has to take the step of cancellation of the board exams just because they could not manage their funds and by doing so the one year struggle and hard work of students has been wasted may be some of them are going through a phase of depression because everyone knows that how much students studied and how much studies matter in a students life it is as necessary as the heart in the body of human being with out knowledge a person is just a body knowledge turns a person into a person worth living in the society as Sri Lanka facing crisis so it is affecting the education sector adversely and it is decreasing the literacy rate in the country along with different things .

Economy depends upon tourism in Sri Lanka :

All of us are aware that Sri Lanka is beautiful and it is an island so every year so many people visited here to explore different places which are worth to explore and when tourist make a tour to any country they took money with them which helps a country in a good way and country start to grow along with the country is getting recognisation but in past few years the tourism graph in Sri Lanka has dressed sharply even no one has assumed before . One reports tells that the graph of tourism in Sri Lanka has been descended down with the 29%which affected the economy in a bad way , Sri Lanka totally depends upon economy and the tourism was only the key which was making stable their level of economy, because Sri Lanka is naturally very beautiful country

The reason behind the decline sharply in Sri Lanka revolve around COVID 19 pandemic and the Easter bombing

No doubt COVID 19 has affected every country economy so badly that the country has to do work even harder and faster to accomplish the past level which they have. Same happens with the Sri Lanka that in pandemic they have to gone through the phase of lock down which put their economic market into a paradoxical situation and their market was standing on edge that time because also they have to run their country and at that time tourism also stops down the rate was sharply decreasing and their market start getting into worse condition also so many countries was not allowing their natives for a visit to Sri Lanka that affected their economy in turn .

Poor policies :

The poor policies from the government side were also the major reason for this time of crisis In may 2021 the president of Sri Lanka put a ban on fertilizer and they don not import even a single fertilizer and he said to form every crop originally without any research and his thinking was that they will got profit but in turn their crop fail which in turn raises the prices of crops and other food items so their economic policy was proved extremely wrong and they also lack forex reserves there was acute shortage of foreign currency due to the small wrong step by the government which indulges the whole nation into the mouth of shark .the government also has to pay the installment for the debt which they have taken in past years from different countries

Debt details:-

From 2007 Sri Lanka is getting into debt and could not pay back with maximum effort even it has taken huge balance from china of about 3billion dollars and again now they are seeking towards them for help , from sovereign bonds they have taken 12bilion dollars and from Asian development bank they have taken 4.6$ billion dollars which they have to return back and now they are facing the crisis and reasons are mixed which I have shared from one to the end .

Appeal for Sri Lanka:-

Sri Lanka is an average country so I will one should race his voice for Sri Lanka as the country is facing the worst condition and people are starving for food so for the sake of humanity everyone should rays his voice at every platform which he has join maybe by doing so some person who are unable to get knowledge and they are willing to help them out. Sri Lanka needs us they need us they are looking for our help yes for our help .