SRI LANKA IN A NIGHTMARE AFTER RUSSIA-UKRAINE WAR OR BEFORE? - JJosephaNews

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    Monday, April 4, 2022

    Home Business International Social Affairs SRI LANKA IN A NIGHTMARE AFTER RUSSIA-UKRAINE WAR OR BEFORE?

    SRI LANKA IN A NIGHTMARE AFTER RUSSIA-UKRAINE WAR OR BEFORE?

         

    SRI LANKA PROTESTS

    By: JJosephaNews
    Reading Time:  00:45 mins.
    Twitter: @JJosephaNews

    SRI LANKA PROTESTS By: JJosephaNews Reading Time: 00:45 mins. Twitter: @JJosephaNews SRI LANKA PROTESTS By: JJosephaNews Reading Time: 1:00 mins. Twitter: @JJosephaNews Willemstad, Curacao. Sri Lanka’s streets erupted with protesters to demonstrate their unhappiness of among other things, the shortage of essential food and fuel items and the $44 billion of international sovereign debt. THE NIGHTMARE Apparently, after the eruption on the streets, multiple members of Prime Minister Mahinda Rajapaksa’s cabinet offered to resign late on Sunday. After the Russia-Ukraine war, the US and Europe sanctioned Russia as punishment for its invasion of Ukraine. Apparently, part of the consequences of the sanctions and bad governance Sri Lanka experienced many blackouts and a fell in a state of emergency. The tourists sector appear to be in panic as well. Some of the problems: Food inflation reached 30.2% in March. The currency’s 40% depreciation against the U.S. dollar in one month. Public debt estimated by the International Monetary Fund at 120% of GDP. Sri Lanka’s $1 billion bond maturing in July trades at 67 cents on the U.S. dollar. Fact Check: We strive for accuracy and fairness. If you should read or see something that doesn't look right, Contact Us! To read more from JJosephaNews: Subscribe to Our YouTube Channel Follow us on Twitter Like us on Facebook Stay tuned for more news @JJosephaNews! ©2022 JJosephaNews. All rights reserved. Willemstad, Curacao. Sri Lanka’s streets erupted with protesters to demonstrate their unhappiness of among other things, the shortage of essential food and fuel items and the $44 billion of international sovereign debt. THE NIGHTMARE Apparently, after the eruption on the streets, multiple members of Prime Minister Mahinda Rajapaksa’s cabinet offered to resign late on Sunday. After the Russia-Ukraine war, the US and Europe sanctioned Russia as punishment for its invasion of Ukraine. Apparently, part of the consequences of the sanctions and bad governance Sri Lanka experienced many blackouts and a fell in a state of emergency. The tourists sector appear to be in panic as well. Some of the problems: Food inflation reached 30.2% in last month. The currency has a 40% depreciation, against the U.S. dollar (in one month). The public debt is estimated by the International Monetary Fund at 120% of GDP. Sri Lanka has $1 billion bond maturing in July trades at 67 cents on the U.S. dollar. Fact Check: We strive for accuracy and fairness. If you should read or see something that doesn't look right, Contact Us! To read more from JJosephaNews: Subscribe to Our YouTube Channel Follow us on Twitter Like us on Facebook Stay tuned for more news @JJosephaNews! #srilanka #travel #srilankatravel #travelsrilanka #srilankan #srilankadaily #visitsrilanka #srilankatrip #srilankatourism #exploresrilanka #india #srilankatoday #india #fashion #instagram #photooftheday #travelblogger #srilankatoday #galle #like #lka #bhfyp ©2022 JJosephaNews. All rights reserved.


    Willemstad, Curacao. Sri Lanka’s streets erupted with protesters to demonstrate their unhappiness of among other things, the shortage of essential food and fuel items and the $44 billion of international sovereign debt.

     

    THE NIGHTMARE

    Apparently, after the eruption on the streets, multiple members of Prime Minister Mahinda Rajapaksa’s cabinet offered to resign late on Sunday.

    After the Russia-Ukraine war, the US and Europe sanctioned Russia as punishment for its invasion of Ukraine. Apparently, part of the consequences of the sanctions and bad governance Sri Lanka experienced many blackouts and a fell in a state of emergency. The tourists sector appear to be in panic as well.

    Some of the problems:
    • Food inflation reached 30.2% in last month.
    • The currency has a 40% depreciation, against the U.S. dollar (in one month).
    • The public debt is estimated by the International Monetary Fund at 120% of GDP.
    • Sri Lanka has $1 billion bond maturing in July trades at 67 cents on the U.S. dollar.


    Fact Check: 
    We strive for accuracy and fairness. If you should read or see something that doesn't look right, Contact Us!



    To read more from JJosephaNews: 
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    Stay tuned for  more news @JJosephaNews! 

    #srilanka #travel #srilankatravel #travelsrilanka #srilankan #srilankadaily #visitsrilanka #srilankatrip #srilankatourism #exploresrilanka #india #srilankatoday #india #fashion #instagram #photooftheday #travelblogger #srilankatoday #galle #like #lka #bhfyp

    ©2022 JJosephaNews. All rights reserved.
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