Economic crisis in Sri Lanka getting worse with every passing day

Sri Lanka’s economic crisis is going to get worse before it gets better. Sri Lanka’s new prime minister told the BBC. He said that an economic crisis that brought misery and unrest is going to get worse before it gets better.

The country is facing severe shortages of fuel and soaring food prices. As a result, some Sri Lankans got forced to skip meals. In addition, the government’s poor handling of the crisis leads to violent protests.

Ranil Wickremesinghe got appointed to defuse the protests. It is the opposition MP’s sixth stint as prime minister. Mr. Wickremesinghe told the BBC that he would ensure families get three meals a day. He appealed to the world for more financial help. He said that there will no hunger crisis, and we will find food.

The new PM described the Sri Lankan economy as broken. However, he said that his message to Sri Lankans was to “Be patient. I will bring things back”.

Mr Wickremesinghe was sworn-in by President Gotabaya Rajapaksa. His appointment largely met with dismay. This is because he seems too close to the politically dominant Rajapaksa family.

In an interview, Mr. Wickremesinghe said, “he agreed with the sentiment of protestors. Those protestors who’ve been calling for President Rajapaksa to resign. But said that would not happen. “Blaming won’t lead to action. I’m here to see people nourished,” he stated.

Sri Lanka’s economy is in great freefall. Food, medicine, and fuel have run out and have become unaffordable and inaccessible. Some people died waiting at the petrol stations to fill up their tanks. This is the island nation’s worst economic crisis. This is the worst hit since gaining independence from Britain in 1948.

A 68-year-old woman in the Sri Lankan capital Columbo told AFP that they don’t have kerosene, petrol, or diesel. We also don’t have cooking gas, and we don’t even have access to wood-fired stoves.

The country is heavily reliant on imports. As a result, the economy suffered from the Covid pandemic. Also, tourism hit by the 2019 church bombings. However, experts also blamed economic mismanagement.

Credits: BBC