Sri Lanka Economic Crisis
Sri Lanka is faced with the worst economic crisis in its history, with inflation reaching a record high of 17.5% in February 2022. The residents are struggling with an acute shortage of food, medicined, fuel and cooking gas. Power cuts are frequent and people are seen standing in long queues in the National Capital for buying diesel fuel.
The government, headed by President Gotabaya Rajapaksa, has been seeking credit lines from countries such as India, China and even Bangladesh for purchasing milk powder and diesel.