Sri Lanka is in Crisis: Here's Why

Sri Lanka is in full crisis. Many people are saying it is the first of many economically failed nations in the years to come. Why is this crisis happening? Is it a recent phenomenon or is there something about Sri Lanka that made this total collapse inevitable.

#h0ser #srilanka

[SHAHIDKC]

As a Bangladeshi I understood how terrible the situation in Sri Lanka is when I realized the fact that they were bailed out by Bangladesh

[Shaggytheking]

Damn.. you somehow made this even more depressing than actually living in Sri Lanka 😐

[bas_t]

As a Sri Lankan; In simple terms, the government took money in the form of loans from other countries. Used them to live a lavish life, and destroyed the Sri Lankan Rupee little by little. This same cycle has been running since Ranil's relative took precedency around 1978/9.

[bee-fsvb]

It's very sad to see what's going on in Sri Lanka, and I'm very worried that the same will happen to my country aswell (nepal), I pray for all my fellow Sri Lankans 🙏

[chamathamara]

Just to add a few details about the civil war

There are two types of Tamil ethnicities in Sri Lanka: 1) native Tamils and 2) Indian Tamils. Native Tamils live mostly in northern and easter regions of Sri Lanka, while Indian Tamils live in central regions of Sri Lanka where tea plantations are located. The secessionist movement was mostly carried out by groups related to native Tamils, but both ethnicities were facing discrimination in the second half of the 20th century.

After the independence, there was a rivalry between Sinhalese and Tamil political groups. The legislature (parliament) was dominated by Sinhalese, and Tamils requested more representation in the parliament. In 1956, a right-wing Sinhalese party got elected and passed the "Sinhala Only" act that made the Sinhalese language the official language, replacing English, which is the 'bridge' language. Overnight, the government conducted activities in Sinhalese, and many Tamils serving in the government lost jobs. Tamils and Tamil political parties opposed this act. Multiple riots broke out during the late 1950s, but leaders of both ethnicities failed to reach a solution, and the discrimination didn't stop. Two decades later, various Tamil groups started arming themselves with the aim of creating a separate state in the northern and eastern regions.

There were multiple skirmishes between separatist groups and Sri Lanka defense forces. But things got worst. in July 1983 when an ambush on an army convoy killed 13 personnel. These soldiers were brought to Colombo, and Sinhalese mobs started attacking Tamils and their businesses. Many Tamils migrated to countries like Canada and United States. With this incident, there were more clashes between separatist groups and government forces, starting the Sri Lankan Civil War.

[GoodieMartin]

The only option left for Sri Lanka is to get massively bailed out by international institutions with dollars and introducing very restrictive reforms (higher taxes, less public spending). We might even see Siri Lanka paying for oil or whatever they need with tea or whatever they produce instead of dollars. Anyway this surely won't be liked by the people but at the current situation it's the only option, add to that the risk of next civil wars and many years of 0 tourists who won't travel to such unstable country. The other possibility might be China bailing them out for allowing to operate military port or maybe even India, who knows.

[oddiethefox]

I know it's been said before but I really enjoy how your portray the country flags as their national animal. Very unique and I love animals and it's interesting to see what animals are a country's national animal

[Civiicendi]

I lived in Sri Lanka from February of 2017 to November of 2019. While I was in the country I loved it and i miss it dearly. It makes me sad to see what has happened to it as I still have friends living in the country. I hope to return one day but unfortunatly that doesn't seem to be any time soon.

[lucianoosorio]

Sri Lanka was like this person who had everything but had a terrible childhood. It was having flashbacks then later went to drink. It became an alcoholic and spent it’s money and time in bars. Things were becoming worse like the person’s wife getting a divorce, the kids leaving with the wife and etc. He lives in the streets broke and now addicted to drugs. Tell me what Sri Lanka is in your opinions. This is a comparison. Edit: Pls don’t get offended.

[thecitizen]

I am excited to hear your take on this topic, mate! Keep it up!

[realist]

Excellent analysis. I have a friend from Sr Lanka and have been following the development. One of the key reasons you do not touch upon is corruption. I learnt that many in the government and at important positions were manned by one family ! Very sad. Hopefully, they find better people to govern and the West can extend a helping hand

[armandeepsingh]

In indian subcontinent every country except india and Bhutan are facing a shortage of foreign exchange reserves
Indian foreign exchange reserve has also declined from 640 billion dollars to 570 billion dollars and it is still decreasing

[Its_ReX_YT]

Hi Im a Sri Lankan. I see that this vid was released 2 years ago. At that time Sri lanka fell down so bad. Lot of Power outages and more. We ran out of fuel and oil and those times are terrible. But now, new president increased taxes. And as I see sri lanka is growing again. Thank you for making this video and You got a sub💗

[hi_tech_reptiles]

I follow some Sri Lankan Buddhists. Beautiful country. I pray the country finds peace at the least, the history and culture is so magnificent. One of the only Bodhi trees from the original is there.

[doflamingo]

Small countries that rely on import usually strengthened their economy on two particular thing: manufacturing of goods that require special experise (f.e: Liechstenstein produce false teeth and Taiwan produce chips and electronic supplies) or banking (Hong Kong, Singapore, Bahamas, Panama). Small countries that dont have any other strong sector besides tourism can easily die when tourism is fucked. However people always need good and people always need place to keep the money

However the ongoing wars obviously make foreign investors reluctant to trust their money in Sri Lanka. If only back then people could realize early that they ought be united and not to consider themselves as more superior than others, Sri Lanka could have been rich by now

[BlueflameKing]

Another contributing factor is the fact that the political leadership was a corrupt family that pretty much had control of the government and led to this. They are the reason for at least the economic issues.

[isfrom]

Id love to see spanish American war in your style, the flag animals are so cool and creative! Gud vid

[manofculture]

President Gotabaya? More like President Gotabaya new house in Singapore.

[PakBallandSami]

“Today I prayed for Boston, for America, my home away from home. Today, I realized how lucky we Sri Lankans are to have peace in our country. How I feel today, hearing of the bombs going off in the city brings back memories of how I used to feel four years ago in Sri Lanka when the LTTE was setting off bombs all around Colombo”
― Thisuri Wanniarachchi

[franciselrojo]

I'm wondering why it took the algorithm so long to suggest me your channel, but I'm glad it finally did. Subscribed.