-IndiaToday.in The economic crisis is not limited to Sri Lanka. From Europe to Asia to Africa, many emerging economies are slipping into chaos. Here is the why and what next. Sri Lanka's President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe have said they will resign for an all-party interim government to take over. Thousands of demonstrators entered the palaces of both men in Colombo over the weekend as the bankrupt island nation...
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PM Modi assures Sri Lanka of immediate supply of fertilizer -Meera Srinivasan
-The Hindu Swift arrival of consignment critical to current production cycle, says Agriculture Ministry official Prime Minister Narendra Modi has assured Sri Lanka of immediate supply of fertilizer, the Sri Lankan President has said, as the island braces for a food crisis amid a crushing economic meltdown. “President Gotabaya Rajapaksa has said that Indian Prime Minister Narendra Modi has agreed to provide the fertilizer required for the Yala season cultivation immediately,” Mr. Rajapaksa’s...
More »Knee-Deep in Debt, Food Shortages, Depleting Foreign Reserves: How Did Sri Lanka Get Here?
-TheWire.in A foreign exchange crunch in Sri Lanka has led to a shortage of essential goods and power cuts that last up to 13 hours a day. New Delhi: Sri Lanka is grappling with the worst economic crisis in decades, which has spiked the prices of essential commodities like rice, milk powder, cooking gas and fuel. For instance, one kilogram of basmati rice currently costs between Rs 300-800 as compared to around Rs...
More »Russia’s war in Ukraine is crushing Sri Lanka’s $81 billion economy -Anusha Ondaatjie
-ThePrint.in Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling forex holdings. Colombo: Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka...
More »A food crisis of the government’s own making -RS Dharmakeerthi
-The Hindu Sri Lanka’s decision to ban imports on chemical fertilizers was not backed by scientific evidence There is consensus in the scientific community that organic agriculture could reduce crop yield. Quoting three global meta-data analysis, Meemkem and Qaim (2018) pointed out that on average, the yield reduction in organic agricultural systems could be 19-25%, depending on the crop and agro-climatic region. To switch to 100% organic agriculture, a country must have...
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