When it rains, it pours

Relying on tourism and remittances, we are exposed to the same pitfalls as Sri Lanka.

Sri Lanka is currently going through one of its worst financial crises. An island nation that relies primarily on tourism and remittances has been hit hard by the pandemic; and ever since it has been struggling to find the means to exit from this catastrophe. The current government, elected amid the ongoing Covid-19 pandemic in 2020, faces challenges on multiple fronts. Mounting debt, depleting forex reserves and a crippled tourism sector seems to have contributed to the current situation. Another thing that is often missed is the government’s desire to push for 100 percent organic farming which may have come at an inconvenient hour.