Sri Lanka declares state of emergency amid economic crisis.

 

Sri Lanka has declared a state of emergency amid an economic crisis that has led to widespread protests and shortages of food, fuel, and other essential goods. The president, Gotabaya Rajapaksa, has also imposed a curfew in the capital, Colombo.

The state of emergency gives the government sweeping powers to arrest and detain people without charge. It also allows the government to control the media and restrict freedom of assembly.

The protests in Sri Lanka have been going on for weeks, and they have intensified in recent days. On Monday, thousands of protesters stormed the president's official residence, forcing him to flee.

The economic crisis in Sri Lanka is the worst in decades. The country is struggling to pay its debts, and it has run out of foreign exchange reserves. This has led to shortages of food, fuel, and other essential goods.

The government has blamed the crisis on the COVID-19 pandemic, which has hurt tourism and remittances. However, critics say that the government's economic policies have also contributed to the crisis.

The state of emergency and the curfew are likely to further inflame tensions in Sri Lanka. It remains to be seen how the government will be able to address the economic crisis and restore order.

Here are some of the reasons for the economic crisis in Sri Lanka:

• The COVID-19 pandemic has had a devastating impact on Sri Lanka's economy. The pandemic has led to a sharp decline in tourism, which is a major source of foreign exchange for the country. It has also led to a decrease in remittances from Sri Lankans working abroad.
• The government's economic policies have also contributed to the crisis. The government has borrowed heavily in recent years to finance infrastructure projects. This has led to a large increase in the country's debt burden. The government has also imposed high taxes, which has hurt businesses and consumers.
• The war in Ukraine has also had a negative impact on Sri Lanka's economy. The war has led to a rise in the price of oil and other commodities, which has increased the cost of living in Sri Lanka. It has also made it more difficult for the country to import essential goods.

The economic crisis in Sri Lanka is a major challenge for the government. The government needs to find a way to address the crisis and restore economic growth. It also needs to address the political unrest in the country.