THE ECONOMIC CRISIS FACED BY ISLAND NATION- SRI LANKA: AN EMPIRICAL STUDY

Authors

  • Dr. Deepak S. Sharma
  • Dr.PankajkumarA. Anawade
  • Dr. Amit Sahu
  • Dr. Monali Sharma

Keywords:

Economy, crisis, issues, challenges.

Abstract

Sri Lanka is experiencing a severe economic crisis as a result of the country's depletion of foreign reserves, which has resulted in shortages of food, fuel, medication, cement, and other necessary products. Sri Lanka is in the midst of a severe economic crisis as a result of the country's depletion of foreign reserves, which has resulted in food, gasoline, pharmaceutical, cement, and other essential supplies shortages. As a consequence of the policy initiatives taken thus far and the improvement in the COVID-19 situation, the Sri Lankan government is optimistic that the crisis would be addressed shortly. Even though the circumstances on the ground and analyses of the government's policy measures imply that Sri Lankans would not receive economic respite anytime soon, global geopolitical-economic trends, particularly in the aftermath of the Russia-Ukraine war, suggest otherwise. In Sri Lanka, public resistance to the government's handling of the matter is steadily growing. The declining economic growth is the subject of this research study

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References

Sultana, Gulbin (2022), Economic Crisis in Sri Lanka: An Assessment, Manohar Parrikar Institute of Defence Studies and analyses. (MP-IDSA) issue brief.

Mahadiya Hamza, “ Crisis-hit Russians, Ukrainians Boost Sri Lanka’s Tourism Recovery” , Economynext, 14 February 2022.

Sunimalee Dias, “ Multiple Impacts in Sri Lanka from Ukraine War” , The Sunday Times, 27 February 2022.

“ Annual Statistical Report 2019” , Sri Lanka Tourism Development Authority.

“ European Parliament Resolution of 10 June 2021 on the Situation in Sri Lanka, in particular the Arrests under the Prevention of Terrorism Act (2021/2748(RSP))” , European Parliament, 10 June 2021.

“ Human Rights Council Holds Separate Interactive Dialogues on the Human Rights Situations in Eritrea and in Sri Lanka” , United Nations Human Rights Office of the High Commissioner, 4 March 2022.

“ Public Debt Management” , Central Bank of Sri Lanka.

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Published

2022-09-30

How to Cite

S. Sharma, D. D. ., A. Anawade, D. P. ., Sahu, D. A. ., & Sharma, D. M. . (2022). THE ECONOMIC CRISIS FACED BY ISLAND NATION- SRI LANKA: AN EMPIRICAL STUDY. The Journal of Contemporary Issues in Business and Government, 28(3), 920–927. Retrieved from https://cibgp.com/au/index.php/1323-6903/article/view/2425

Issue

Vol. 28 No. 3 (2022): The journal of contemporary issues in business and government

Section

Articles

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