Post
Topic
Board Economics
Re: Sri Lanka defaults on its $51 billion external debt
by
eaLiTy
on 22/04/2022, 22:27:42 UTC
~
 Besides that, some bad decisions from the govt like forbidding tp importation of fertilizer to produce organic foods create food shortages in the country. Mostly covid and govt is to blame for this current situation in Sri Lanka.

Note: Neputism is very common in srilanka and most of the important ministry is occupied by brother and relatives of current PM.
The countries that are suffering economically did not just happen just because of the pandemic, it played a part but the most important aspect is the constant bad decisions by the government for several years that have taken them to a situation where they want to depend upon other countries to restructure their loans, in the case of Sri Lanka, they have taken huge loans from China and if China decides they can restructure their loan. Inflation has caught up big time and we understand that Sri Lanka is struggling really bad at this moment.