Senior journalist describes the economic crisis in Sri Lanka - Video!

Neighboring Sri Lanka is facing the worst economic crisis. Rasool, a senior journalist in Sri Lanka, explains the reasons for this.

The prices of essential commodities in Sri Lanka are rising many times over. People are standing in long queues to buy items including milk, rice, bread. Electricity is cut off for hours daily. What is the reason for all this? What is the current situation in Sri Lanka? - Rasool explains.

Has there been an economic crisis like this in Sri Lanka before? Responding to a query, Rasool said, "Based on my press experience, Sri Lanka has never faced such a dire situation".

Rasool said the price of fuel has gone up from Rs 1,400 to Rs 2,700 now, which has led to the closure of restaurants, leading to the suffering of those who relied on the same for their livelihood.

Rasool noted that many young people are leaving the country due to the sharp rise in prices in Sri Lanka, which could severely affect the future of Sri Lanka.

Rasool said the people were deeply dissatisfied with the government and that the protest near the Sri Lankan parliament building had taken place because "Gotabaya Rajapaksa came to power with a two-thirds majority, but today more than 90 percent of the people say they are dissatisfied with the government."

What is the cause of this dire economic crisis facing the Sri Lankan government? When asked, Rasul said, "The Sri Lankan rupee has depreciated sharply, especially against the US dollar. Inflation in the country, which stood at 3.5 per cent in 2019, has now reached 16 per cent due to the lack of a clear monetary policy by the government."