Faceoff: Sri Lankan economic crisis evokes divergent viewpoints in India

The Sri Lankan economy is in the grips of its worst economic downturn since independence, sparked by an acute lack of foreign currency.


The country of 22 million people is struggling to pay for essential imports after a 70% drop in foreign exchange reserves in two years led to a currency devaluation and efforts to seek help from global lenders.

This has also led to dire shortages in everything from life-saving medicines to cement.


Sri Lanka on Wednesday began imposing record nationwide 10-hour daily power cuts as it ran out of hydro-electricity on top of a severe shortage of fuel.


Diesel was no longer on sale across Sri Lanka on Thursday, crippling transport as the crisis-hit country endured record-long power blackouts.


Food prices are rocketing and protests have broken out as Sri Lanka's government prepares for talks with the International Monetary Fund (IMF) amid concerns over the country's ability to pay back foreign debt.

Sri Lanka has sought an additional credit line of $1 billion from India to import essentials.


As Sri Lankans faint in day-long queues for fuel and swelter through stifling evening blackouts by candlelight, anger is mounting day by day.

Long lines for fuel that start forming before dawn are forums for public grievances, where neighbours complain bitterly about government mismanagement and fret over how to feed their families as food prices skyrocket.

Amidst all this, experts and

netizens

from India weighed in with their opinions on what India could learn from its neighbour’s crisis.


Reckless populism for electoral gains a disaster in long run


Shift to organic farming in Sri Lanka, a cause for concern


China to be blamed


No Kerala model?


Beware of such rankings




India can help