Condition Sri Lanka is in turmoil. The island state on the southeast coast of India is in the middle of an economic crisis. This condition prompted protesters across the country to take to the streets to stage an “invasion” of the Sri Lankan President’s home.
Sri Lankan President Gotabaya Rajapaksa resigns on July 13th. Prime Minister Ranil Wickremesinghe also said he was ready to step down from his post. While Ranil promised before the crisis hit that his country would be rich by 2025.
At the 2018 World Economic Forum (WEF), Ranil presented Sri Lanka’s Vision for 2025, which is his government’s strategy to focus on improving the country’s economy by expanding and strengthening markets in Asia.
“Progress made Sri Lanka in the last three years and the success of his plans for the future has of course been influenced by the global economic downturn and has been closely linked to strategic trade relations, particularly trade relations across the Asian region,” Ranil said at the 2018 WEF.
“It’s no secret that Asia is the economic engine of the future, and in our endeavours Sri Lanka rich countries by 2025, we aim to include Asia even more and leverage strategic access to emerging markets ranging from India, Pakistan, China, Japan and South Korea to ASEAN,” he continued.
In fact, Ranil then represented the Sri Lankan government which had created hundreds of thousands of jobs. He claimed that Sri Lanka is a rapidly developing country where infrastructure development is being carried out.
“The current government has created more than 460,000 jobs and helped more than 260,000 families,” he said.
But a promise is a promise. Now Sri Lanka has been declared bankrupt because of the ongoing crisis. For months, the country of 22 million people has been suffering from food shortages, fuel and power outages and high inflation. This condition arose after the government ran out of foreign exchange to import essential goods.
The country suffers from rampant inflation and struggles to import food, fuel and medicines. Many blame the economic situation Sri Lanka this terrible thing President Rajapaksa. Demonstrations have been taking place since March to demand his resignation. Wickremesinghe is said to have been brought to safety in the meantime.
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