{"id":7015,"date":"2022-01-03T17:37:10","date_gmt":"2022-01-03T17:37:10","guid":{"rendered":"https:\/\/polscienceweb.com\/?post_type=portfolio&#038;p=7015"},"modified":"2022-01-03T17:39:50","modified_gmt":"2022-01-03T17:39:50","slug":"is-sri-lanka-at-the-brink-of-bankruptcy-in-2022","status":"publish","type":"portfolio","link":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/","title":{"rendered":"Is Sri Lanka at the brink of bankruptcy in 2022?"},"content":{"rendered":"\n<h4 class=\"has-text-align-center wp-block-heading\"><strong>Sri Lanka&#8217;s economic emergency<\/strong><\/h4>\n\n\n<div class=\"has-text-align-center wp-block-post-date\"><time datetime=\"2022-01-03T17:37:10+05:30\">3rd January 2022<\/time><\/div>\n\n\n<div style=\"height:17px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<details class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">\n<summary class=\"wo-block-verse\" style=\"font-size: 18px; text-align: center;\">Read more<br><br><\/summary>\n\n\n\n<pclass=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\"\n >Factors Responsible for Sri Lankan Economic Crisis:<\/p>\n\n\n\n<ol class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\"><li>The tourism industry represents over 10% of the country&#8217;s GDP and brings in foreign exchange, which has been hit hard by the pandemic.<\/li><li>As foreign exchange is drying up, the money to buy foreign exchange to import goods has risen. The Sri Lankan currency has depreciated.&nbsp;<\/li><li>Sri Lanka depends heavily on imports to meet even its basic food supplies. The price of food items has risen in tandem with the depreciating currency. Thus, giving rise to inflation.<\/li><li>Due to the pandemic, other sources of foreign currency has diminished, like exports, worker remittances, etc.<\/li><li>There is a severe food shortage. Moreover, the Sri Lankan Government&#8217;s recent decision to ban the import of chemical fertilizers and adopt an &#8220;organic only&#8221; approach has further impacted food production.<\/li><li>The country owes vast debt repayments to China.<\/li><li>High government spending and tax cuts eroding revenues.<\/li><\/ol>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">Under Emergency Crisis, the government can dictate retail prices for essential food items and seize stocks from traders.<strong> The&nbsp;military will oversee the action&nbsp;<\/strong>to ensure that essential commodities are sold at government-guaranteed prices.<\/p>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">The World Bank estimates 500,000 people have fallen below the poverty line since the start of the COVID-19 pandemic, the equivalent of five years&#8217; progress in fighting poverty. Essential goods are now unaffordable for many.<\/p>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">Besides the immediate impact of the COVID-19 pandemic, Sri Lanka faces a<strong> humanitarian crisis <\/strong>with fears it could go bankrupt in 2022 as inflation rises and food prices have rocketed.<\/p>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">The situation has got so bad that long queues have formed at the passport office, mostly the young and educated with the desire to leave the country.&nbsp;<\/p>\n\n\n\n<\/details>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center\">Source: <a href=\"https:\/\/www.theguardian.com\/world\/2022\/jan\/02\/covid-crisis-sri-lanka-bankruptcy-poverty-pandemic-food-prices\" target=\"_blank\" rel=\"noreferrer noopener\">The Guardian<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sri Lanka&#8217;s economic emergency Read more Factors Responsible for Sri Lankan Economic Crisis: The tourism&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7014,"comment_status":"closed","ping_status":"closed","template":"","portfolio-category":[428,430,426],"class_list":["post-7015","portfolio","type-portfolio","status-publish","has-post-thumbnail","hentry","portfolio-category-428","portfolio-category-january-2022","portfolio-category-newsfeed"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News<\/title>\n<meta name=\"description\" content=\"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\u2028 The tourism industry represents over 10% of the country&#039;s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News\" \/>\n<meta property=\"og:description\" content=\"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\u2028 The tourism industry represents over 10% of the country&#039;s\" \/>\n<meta property=\"og:url\" content=\"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Politics Science News\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-03T17:39:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/01\/Untitled-design.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/\",\"url\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/\",\"name\":\"Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/polscienceweb.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Untitled-design.jpg\",\"datePublished\":\"2022-01-03T17:37:10+00:00\",\"dateModified\":\"2022-01-03T17:39:50+00:00\",\"description\":\"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\\u2028 The tourism industry represents over 10% of the country's\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/#primaryimage\",\"url\":\"https:\\\/\\\/polscienceweb.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Untitled-design.jpg\",\"contentUrl\":\"https:\\\/\\\/polscienceweb.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Untitled-design.jpg\",\"width\":800,\"height\":400,\"caption\":\"sri lanka economic crisis\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/polscienceweb.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Portfolio\",\"item\":\"https:\\\/\\\/polscienceweb.com\\\/index.php\\\/portfolio\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Is Sri Lanka at the brink of bankruptcy in 2022?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/polscienceweb.com\\\/#website\",\"url\":\"https:\\\/\\\/polscienceweb.com\\\/\",\"name\":\"Politics Science News\",\"description\":\"Latest Articles\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/polscienceweb.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News","description":"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\u2028 The tourism industry represents over 10% of the country's","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/","og_locale":"en_US","og_type":"article","og_title":"Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News","og_description":"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\u2028 The tourism industry represents over 10% of the country's","og_url":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/","og_site_name":"Politics Science News","article_modified_time":"2022-01-03T17:39:50+00:00","og_image":[{"width":800,"height":400,"url":"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/01\/Untitled-design.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/","url":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/","name":"Is Sri Lanka at the brink of bankruptcy in 2022? - Politics Science News","isPartOf":{"@id":"https:\/\/polscienceweb.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/#primaryimage"},"image":{"@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/01\/Untitled-design.jpg","datePublished":"2022-01-03T17:37:10+00:00","dateModified":"2022-01-03T17:39:50+00:00","description":"Economic Emergency - Factors Responsible for Sri Lankan Economic Crisis:\u2028 The tourism industry represents over 10% of the country's","breadcrumb":{"@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/#primaryimage","url":"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/01\/Untitled-design.jpg","contentUrl":"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/01\/Untitled-design.jpg","width":800,"height":400,"caption":"sri lanka economic crisis"},{"@type":"BreadcrumbList","@id":"https:\/\/polscienceweb.com\/index.php\/portfolio\/is-sri-lanka-at-the-brink-of-bankruptcy-in-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/polscienceweb.com\/"},{"@type":"ListItem","position":2,"name":"Portfolio","item":"https:\/\/polscienceweb.com\/index.php\/portfolio\/"},{"@type":"ListItem","position":3,"name":"Is Sri Lanka at the brink of bankruptcy in 2022?"}]},{"@type":"WebSite","@id":"https:\/\/polscienceweb.com\/#website","url":"https:\/\/polscienceweb.com\/","name":"Politics Science News","description":"Latest Articles","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/polscienceweb.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/portfolio\/7015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/portfolio"}],"about":[{"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/types\/portfolio"}],"author":[{"embeddable":true,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/comments?post=7015"}],"version-history":[{"count":4,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/portfolio\/7015\/revisions"}],"predecessor-version":[{"id":7019,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/portfolio\/7015\/revisions\/7019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/media\/7014"}],"wp:attachment":[{"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/media?parent=7015"}],"wp:term":[{"taxonomy":"portfolio-category","embeddable":true,"href":"https:\/\/polscienceweb.com\/index.php\/wp-json\/wp\/v2\/portfolio-category?post=7015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}