Sri Lanka on verge of collapse!

 
Sri Lanka is reeling from the food crisis. Two people who were standing in different queues for petrol have died in a crash in the wake of skyrocketing prices. The situation in Sri Lanka looks really bad. People are facing the worst debt crisis in 26 years, power cuts, shortage of food, currency devaluation, and high fuel price. Colombo police spokesman said two elderly men died in queues for petrol and kerosene, one of whom was 70 and the other a 72-year-old. They stood in a queue for four hours and were pronounced unconscious. Sri Lanka has been reeling under a severe food and financial crisis for the past few days. Commodity prices have skyrocketed.

In the country, an egg now costs 35/-, while a kilo of chicken costs 1k. Petrol, diesel, and kerosene prices have gone up. A liter of petrol is currently priced at 283/- while diesel was priced at 220/-. The Sri Lankan currency is valued at dropped to 270. 90 percent of hotels in the country were closed due to the financial crisis. There is strong opposition from the people in the wake of rising prices in the country. It is very sad that Sri Lankan government cancels school exams due to a shortage of printing paper amid of financial crisis. People are angry at the Rajapaksa brothers for deteriorating the financial situation in the island nation.

Colombo falls into Beijing’s debt trap in the name of restructuring. Reportedly, Sri Lanka took at least $8 billion from China. Two years back-to-back coronavirus pandemic hits the island nation severely. Sri Lanka’s economy has depended on tourism which was stopped due to pandemics and global lockdown. Another reason for the crisis is that the idiotic agro-chemical ban by this government has taken effect. Tea yields suffer the worst decline in 13 years as the island grapples with its worst economic crisis in 7 decades. Being a neighboring nation, India helped Sri Lanka without putting any conditions for two years.