Sri Lanka Economic Crisis Explained: Causes, Impact & Recovery | IIC Lakshya English скачать в хорошем качестве

Sri Lanka Economic Crisis Explained: Causes, Impact & Recovery | IIC Lakshya English

Sri Lanka faced one of its worst economic crises in 2022-2023, leading to severe shortages, inflation, and political turmoil. But what caused this crisis, and how is the country working towards recovery? Let’s break it down. Key Causes of the Sri Lankan Economic Crisis: High Debt Levels – Massive foreign debt leading to default in 2022. Declining Foreign Reserves – Limited forex reserves, causing import restrictions. COVID-19 Impact – Devastated tourism and disrupted global supply chains. Agricultural Decline – Organic farming policy led to food shortages. Rising Inflation – Record-high inflation, increasing food and fuel prices. Political Instability – Governance issues and mass protests worsened the crisis. Major Impacts: Shortages of Essentials – Fuel, food, and medicine in crisis. Currency Depreciation – The rupee value plummeted, making imports costly. International Assistance – IMF, India, and China stepped in to help. Political Change – New leadership under Ranil Wickremesinghe aimed at economic recovery. What’s Next? With IMF aid and economic reforms, Sri Lanka is rebuilding, but full recovery will take time. Will the country overcome this crisis? Drop your thoughts in the comments! Learn with Lakshya, India's No:1 Institute of Commerce to pursue a successful career in commerce. Being the pioneer in the field of commerce education, we assure quality education and innumerable opportunities to determined aspirants. Advising students on the courses offered at IIC Lakshya like CA, ACCA, CMA USA, CMA INDIA,CS, UG and PG COURSES and guiding them through the right path for a successful academic career is our motive. Embark on your journey to success with Lakshya. Website: https://www.lakshyacommerce.com/ Instagram:   / iiclakshya   LinkedIn:   / indianinstituteofcommercelakshya   Facebook:   / lakshyacac   Twitter:   / iic_lakshya   Join IIC, Lakshya, and start your journey to success!