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Emergency in Sri Lanka

The world had seen a hyperinflation crisis in Zimbabwe in 2007. People spend bags of money buying necessities in the country. Then Zimbabwean President Robert Mugabe has blamed the crisis because of his decisions. That caused disarray among the people who rushed to the streets for their food. Similar incidents have been appearing in Sri Lanka. Shaken by the financial crisis, hundreds of protesters stormed the home of President Gotabhaya Rajapaksa in Colombo. They chanted slogans on a large scale demanding his resignation. They got into a scuffle with the police who tried to stop them.  Sri Lanka is reeling from the financial crisis as car darkness looms. The government imposes an emergency after violent protests occurred on March 31st.


People are suffering severely from power cuts for over 13 hours a day! Due to power cuts, transactions in the stock markets continue for only two hours a day. In order to save the available electricity, the country's electricity minister has announced that the street lights are being turned off. People are unable to find cooking gas in the country. Diesel worth 38k crore lent by India is expected to arrive by Saturday. As promised by the government, Indian Oil will supply 6,000 tonnes of diesel to Sri Lanka. The Russian invasion of Ukraine has plunged Sri Lanka into deep trouble. With the collapse of tourism, the country's main source of income, foreign exchange reserves have dried up.


As a result, the import of fuel for power generation has come to a standstill. Inflation rose to 18.7 percent. Food shortages reached 30.2 percent. Prices are skyrocketing. From vital drugs to petro products and from cement used for construction everything is reversal. Sri Lanka, which once saw the worst conditions in the 1970s, is now surrounded by hardships beyond that. The people are angry over this. They are blaming the incompetent decisions of the government for this. The economic crisis has caused massive discontent. Sri Lanka owed $7 billion to foreign creditors including $1 billion to India.  

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