Colombo: Amid the economic crisis persisting in Sri Lanka, food vendors are accusing the Rajapaksa government of selling everything to China adding that the country has nothing and it had bought everything from other countries on credit.
Prices of fruits and vegetables are skyrocketing in Sri Lanka amid economic and political crises, amid which local businessmen express their dissatisfaction and anger saying that the prices are going up each day and they do not have any cash left with them.
A fruit vendor, Farukh says, “3 to 4 months back apple was sold at Rs 500 per kg, now it is Rs 1000 per kg. The pear was sold at Rs 700 per kg earlier, now it is sold at Rs 1500 per kg. People don’t have money.” He added, “Sri Lankan government sold everything to China. That is the biggest problem. Sri Lanka has no money as it has sold everything to China. It is buying everything on credit from other countries.”
Here Are The Highlights Of The Lankan Crisis
- Sri Lanka’s opposition demanded President Rajapaksa’s resignation over the country’s worsening shortages of food, fuel, and medicines.
- 26 Sri Lankan Cabinet Ministers resigned en masse from their positions amid rising public anger.
- Protests against the government in different parts of the country. A 36-hour nationwide curfew is already in force after protests outside the residence of President Gotabaya Rajapaksa.
- Sri Lanka’s economy has been in a free fall since the COVID-19 pandemic due to the crash of the tourism sector.
- Sri Lanka’s currency has been also devalued by almost SLR 90 against the US dollar since March 8.
- Buses in Colombo sit idle while some hospitals have suspended routine surgeries. Exams were postponed this month because schools ran out of paper.
- Island nations facing a foreign exchange shortage which has led to a fuel, power and gas shortage and have sought the assistance of friendly countries for economic assistance.
- India delivered 40,000 MT of diesel to Sri Lanka to help ease the power crisis in the island country.
- India provided more than $500 million in foreign currency swaps to strengthen Sri Lanka’s foreign reserves, taking the total up to $900 million.
- India also extended the repayment time frame for the $500 million debt of Sri Lanka under the Asian Clearance Arbitration.
- More recently on March 17, Sri Lanka signed a $1 billion credit line deal with India for the procurement of food, medicines and other essential items during Sri Lankan Finance Minister Basil Rajapaksha’s two-day visit to India.