homevideos Newsworld News

Sri Lanka’s economic crisis deepens; Experts discuss rocky road ahead

videos | Mar 31, 2022 7:27 PM IST

Sri Lanka’s economic crisis deepens; Experts discuss rocky road ahead

Mini

Serpentine queues outside cooking gas depots, 10-hour long power cuts, dearth of essentials, dearth of medicines, no diesel whatsoever - the economic crisis in Sri Lanka, exacerbated by a shortfall of foreign currency has turned into a humanitarian crisis. So, what led to this acute economic crisis? And what is the way out? To discuss this CNBC-TV18 spoke to Ahilan Kadirgamar, Political Economist; Mandana Abeywickrema of The Sunday Morning; Kalani Kumarasinghe of Daily Mirror and Amit Bhandari of Gateway House.

Serpentine queues outside cooking gas depots, 10-hour long power cuts, dearth of essentials, dearth of medicines, no diesel whatsoever - the economic crisis in Sri Lanka, exacerbated by a shortfall of foreign currency has turned into a humanitarian crisis.

Recommended Articles

View All

The nation's foreign exchange reserves has fallen by 70 percent in the past two years, making it difficult for them to even import essential goods, food and fuel.
There are reports of multiple hospitals suspending routine surgeries as they were dangerously low on stock of vital medical supplies. There are reports that Sri Lanka has run out of fuel and the only viable option available now is coal, which in turn could lead to longer power cuts.
The Ceylon Electricity Board has said that duration of power cuts could be reduced to less than four hours from the April 2nd as diesel shipments are due on that date.
India has already extended USD 1 billion of credit line to Sri Lanka.
So, what led to this acute economic crisis? And what is the way out? To discuss this CNBC-TV18 spoke to Ahilan Kadirgamar, Political Economist; Mandana Abeywickrema of The Sunday Morning; Kalani Kumarasinghe of Daily Mirror and Amit Bhandari of Gateway House.
Watch video for more.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng