In this episode of the Perspective, We will be talking about the Srilanka Economic Crisis. After weeks of economic turmoil, the island nation of Sri Lanka announced on Tuesday that it would be defaulting on all of its external debt worth $51 billion. After running out of foreign exchange for imports, Colombo called the move a last resort. The island nation is grappling with its worst economic downturn since independence, with regular blackouts and acute shortages of food and fuel. The crisis has caused widespread misery for Sri Lanka's 22 million people and led to weeks of anti-government protests. In an address to the nation on Monday Sri Lankan Prime Minister Mahinda Rajapaksa said his government was working to resolve the issues to the greatest extent possible over the next few days. He also reinstated fertilizer subsidy for the farmers of the country which was suspended last year in an attempt to shift country’s agriculture completely to organic farming. The Sri Lankan government is also looking for external assistance of about $3 billion over the next six months to help restore supplies of essential items.
Anchor:- Vishal Dahiya
Producer:- Amit Srivastava, Sagheer Ahmad
Guests-
1. Arvind Panagariya, Professor of Economics, Columbia University
2. Rohan Samarajiva, Policy Analyst and Commentator, Sri Lanka
3. Suresh K. Goel, Former Ambassador
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