The government has decided to suspend stock market trading in Sri Lanka for a week from Monday. The troubled Lanka is not currently stranded. As the Sri Lankan government is in talks with the International Monetary Fund (IMF) this week, it remains to be seen to what extent it will help and do so. The same is now the big direction for the Rajapaksas, as criticisms of the IMF's behind the Sri Lankan economic sinking can only be offset by the IMF alone. The people are incensed at the Rajapaksas for doing so much injustice to the country and still clinging to power. The Lankan family rule is now a stand-in for those who want to criticize the family rule as everything from the President to the Prime Minister is up for grabs. Citing the Lankan crisis to conclude that family rule is incompetent governance. Opposition parties have stated they will not run for office until the new parliament convenes.
Anger among the people is more dangerous to the rulers than the opposition. It is very difficult to keep up with the times by suppressing protests and movements from time to time. It is very difficult to deceive people when they are in a predicament where they have to look for food, oil, medicines, and electricity on a daily basis. Lanka estimates that it will need $ 3 billion immediately to meet any minimum requirements for a few months. On the other hand, it appealed to our country as well as a few other countries to provide financial assistance. It is well known that when Mahinda Rajapaksa was the President, he joined hands with China and almost held the country hostage. It is good that China is not supporting us much in the difficult times now. It is said that China is to blame for its suffering, as there is opposition among the majority of the people and China has given up on aid.
Recently, India has supported Sri Lanka by providing a large supply of food as well as an economy. The current plight is not something that has arisen now. However, many factors have contributed to the economic catastrophe over time, such as higher spending than income, indebtedness, inattention to production, and a lack of a clear mindset on more goods and services that aid export and trade. The Easter bombings of 2019 have cast doubt on the security of the country and the religious harmony of the world. The corona sank without even a chance to recover a bit from it. Being a country dependent on tourism, the epidemic has hit it hard. Exports of tea, textiles, etc. have not only suffered, but remittances from overseas have also fallen. The original roaring Lanka was now further weakened by the Russia-Ukraine war.
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