Sri Lankan president calls for international help to deal with economic crisis

As Sri Lanka suffers from a severe economic crisis, President Gotabaya Rajapaksa on Thursday appealed to the international community to help Sri Lanka meet essential needs for medicine, food and fuel to overcome the problem. “We are currently going through a severe economic crisis which has profoundly affected the lives of all Sri Lankans resulting in social unrest. We urgently need the help of our friends in the international community and I call on other friends of Sri Lanka to also explore the possibility of extending support and solidarity to my country at this very difficult time,” Rajapaksa said during his address at the 27th International Conference on the Future of Asia (Nikkei) held in Tokyo, Japan, via video call, the Daily Mirror reported.

Sri Lanka recently defaulted on all of its external debt of around $51 billion, due to severe foreign exchange shortages caused by a drop in tourism during the COVID-19 pandemic. as well as reckless economic policies, which have resulted in the country being unable to buy enough fuel, and people facing acute shortages of food and basic necessities, heating fuel and gas. “The near shutdown of the tourism industry and the sharp decline in inbound remittances from expatriate workers due to COVID-19 over the past two years and the rise in inflation due to other events combined to Sri Lanka’s high debt stock have caused a severe financial crisis,” the president said.

“An even more pervasive problem facing the world in the future relates to food security. Food shortages and sharp increases in food prices likely to occur in the coming months will put considerable pressure on many country,” the president told the Daily Mirror. as told. The President underlined that the conflict between Ukraine and Russia has aggravated the crisis of the country which is suffering as a result of the COVID-19 pandemic, thus urging the international community to provide support to these vulnerable nations. He stressed that increased cooperation between nations will also be needed to ensure that we overcome the crisis in the country.

“The severe difficulties facing Sri Lanka are a first indication of the long-term effects of the COVID-19 pandemic, compounded by the ongoing conflict in Europe which could also affect other vulnerable nations. It is essential to support these vulnerable nations through these difficulties regional and global stability,” he said. “However, as we work on such solutions, we urgently need the help of our friends in the international community. to ensure that our immediate needs in terms of importing essential medicines, food and fuel are met,” added President Rajapaksa.

He stressed the need to pay attention to this crucial issue and prioritize local agricultural production. He urged compatriots to adapt and find ways to deal with the problem ahead. “Japan remains one of Sri Lanka’s main development partners, and we hope that the negotiations currently underway regarding Japan’s bridge funds will soon conclude and support Sri Lanka as we try to stabilize our economy and our nation. “, quoted Rajapaksa, quoted by the Daily Mirror.

Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts. As the economy is not in very good condition, it is obvious that there is a high risk of rising international interest rates. The danger of rising international food prices is also being observed at this time. (ANI)

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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