Why is Sri Lanka seeing its worst economic crisis? | Let Me Explain

Sri Lanka is going through its worst economic meltdown since it got independence in 1948.

Over the last week, Tamil Nadu has seen several Sri Lankan citizens arrive on its shores, fleeing the economic misery in the island-nation. How bad is the situation in Sri Lanka? Why is it facing its worst economic crisis in history? And what is India doing to help its neighbour? Anna Isaac delves into these questions in this week’s episode of Let Me Explain.

#SriLankaEconomicCrisis #SriLanka

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[janakure]

Sri Lanka is a wonderful country having everything to build a srong nation. Only problem is fck...ing politicians... if we had a leader like putin, Sri Lanka could be the richest country in the world

[rajavishnuvardhana]

India should give them food and shelter as they are our brothers and should allow till situation becomes good.

[padmanabhanc.s.chittoor]

Height of mismanagement. 108 members of parliament are ministers whose total strength is only 128.

[shamaldesilva]

Rajapaksha family, family friends and high officials level of corruption is the main reason for the crisis than all the factors you mentioned.

[pranevprem]

It looks like you missed to mention the shock to the market caused by shifting to organic farming

[jayashreeshreedharan]

Let our tamilians come over we will help them here in India🇮🇳🇮🇳🇮🇳

[abbasalichinikamwalla]

It's saddening to hear such news about Sri Lanka. This country is a gem from Almighty home. People are good n humble n hardworking. I adore Sri Lanka n pray that it comes out of this crisis very soon. God

[ranjitwijesinha]

Ranjit Wijesinha Warundjuri country Melbourne Australia.
People voted in droves to bring a Sinhala Buddhist Government -a racist regime. As many economists state (independent) the government cut taxes, the main cause of the present mess. Past governments and people need to take responsibility. Sri Lanka has got its priorities wrong. Agriculture should be the foundation of the economy. People need to eat before doing anything. Young people aspire for white-collar, professional occupations. Who wants to become a farmer in Sri Lanka.? Graduates who pass out of the agriculture faculty or schools of agriculture won't be toiling the soil and planting crops. Mostly they will become advisors, bureaucrats.

[nrchavan]

They were very much fond of friendship with China and didn't consider India as strategic partner. Now it's time to "pay the price"

[imithiyasahamad]

A good analytical video. Before 1972, key decisions were taken by educated civil servants. After 1977, power were centered around politicians. This led to extremely corrupt system and government projects were aimed to create income to corrupt politicians. Sri Lankan civil war led to a morally decayed society. Rajapaksha government opened up the political system into lowest level thugs. Now sri lankans paying these mistakes with interests.
This may be an opportunity for Sri Lanka to clean its system, some people will die and other may suffer. However, these type of crisis gives opportunities to change.
Although indian help is welcome by Sri Lankans, $1billion is not a big money at this situation. Sri Lanka need much more to get out of this crisis. This is man made crisis, created by politicians. Most of these helps come with strings attached.

[pradeepselvaratnam]

Thank you Anna,

The low income, middle class, daily wage earners are facing immense suffering and Left with less disposable income.
A sense of helplessness, despair.

Yes Corvid adversely impacted economy.

You missed important points that led to this Mismanagement of economy, incompetence, corruption .

Just got to hope for better times leading to improved economy.

[meezantimes]

I viewed your video first time and liked it. I sm an Indian and have sympathy for our Srilankan brothers and sisters. We fear that sooner or later India may also face the consequences of long lockdown in the mame of fighting the pandemic. Lockdown made small countries dependent on imf which will not be good for them.

[madankumar]

Remember 3 lakhs Tamils killed in the name of genocide, Now it's your turn Sri Lanka

[marty]

Sri Lanka has been a good neighbor to India since a long time.
Indians need to help Sri Lankans as much as possible.

[vallabhanenihimavanth]

What humane??? Did you not remember Tamilians were slaughters during Civil War? India is still not learning from its mistakes. Why India should be soft towards everyone?

[mohammadaquil]

With war in Ukraine, its going to be a desaster, only God may help them, we should pray for the people of SL.

[Decki]

Im from srilanka and this id my request for the world just don't help srilanka, don't give loan to srilanka and don't do any other help to srilanka because srilankan people need a lesson because our people always electing bad leaders since the independent day pretty much all srilankan political parties are famil members what they all do is full fill their pockets

[muralidharanyesnameisperfe]

One family rule ruined India.Another family rule ruined Sri lanka.

[dreamtotravel]

As a Sri LankanI request one thing from you all. Our country this incident happened due to Rajapaksha family. They have stolen all stored money of Sri Lanka to Uganda. Current president also Rajapaksha family member... until this Rajapaksha people are there we cant rise as nation. Please help us. Many people are in hunger. No medications . But security for Rajapaksha family is high.. They ate my please save us from this thieves plz ....

[rajk]

Sri-Lanka is already bankrupt!

The current economic problems are not new.

Sri-Lanka has had numerous economic problems since the 1950s.

Sri-Lanka has asked the IMF for help 16 times in the last 52 years.

The claim by the Rajapaksa brothers that Covid caused the economic disaster in Sri-Lanka is utter nonsense!

Why are not other countries in Asia facing severe economic problems?

In 1980, JR Jayawardena promised to make Sri-Lanka the next Singapore!

After failing to be become the next Singapore, in 2009 Mahinda Rajapaksa promised to make Sri-Lanka a Wonder of Asia!


After failing to become a Wonder of Asia, last year the Rajapaksa brothers promised to deliver Prosperity and Splendor.

They are now delivering Prosperity and Splendor!