SRI LANKAN ECONOMY IN COLLAPSE
Economic emergency is prevailing in Sri Lanka. Most of the food articles required by the country are being imported. The foreign exchange reserve available with the country is hardly enough for two months import. Over and above this, the country has huge liability of external debt. The Sri Lankan government has already taken various corrective measures to overcome the situation. Import of many items have been stopped forthwith. Money circulation has been brought down and interest rate has been enhanced. Import of chemical fertilizers have already been stopped and being replaced with local made bio fertilizer. This has considerably brought down the agricultural output of the country thereby prompting more imports of food articles.
Despite all these preventive measures, the economy continues to be in shambles. After leasing out the Humbanthotta port to China for huge sum, Sri Lanka continue to shoulder unbearable economic burden both on the government as well as the people individually and collectively.
If possible India may extend financial help to that country. It cannot be against lease or any such conditions. We may invite Sri Lanka to be part of India. We shall assure them safety and security from all external forces. Initially it will be an independent state of India. All relevant terms and conditions may be mutually discussed and arrived at.
Hope the Government of India may consider this matter.
K V George
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