Sri Lanka's Economic Crisis Explained | Reasons, causes & Politics of SL | Economics & Geopolitics

I am a Srlankan.I say,this explanation is 100% correct .

brother I love how you draw the economic issues of today back to the very origin of the country itself. sending my thanks from Wisconsin.

It's very sad to hear what's happening in SriLanka I am from Nepal and always thought countries with access of sea are in much better condition for trade , transport and development..all the best SriLanka Love from Nepal 🇳🇵🙏

I hope everything becomes better in Sri Lanka and our subcontinent will rise to power again inshallah! ❤️ 🇮🇳 🇵🇰 🇱🇰 🇧🇩 🇧🇹 🇳🇵 🇦🇫 ❤️

This lesson should be taught every Sri Lankan school for the kids to know why they are suffering today

Great Explanation..and Its 100% true.. As Sri Lankans we all are suffering for their actions.. Pray for 🇱🇰 🙏

As an American who lived in Sri Lanka from 2000-2010 teaching English and volunteering for the NGO Sarvodaya, I appreciate this detailed explanation, including the comparison with Pakistan (useful for my Pakistani online students!) and going far back in history and taking a long-term view of the problem. It is also a good update to me of the major trends in the country since I left there and have been mostly in Malaysia and Thailand. The charts and graphs are helpful. However, Social Democracy and Communism are 2 entirely different things, as anyone who knows anything about Norway or Sweden could tell you, and even within Communism there are many different brands of it that vary according to a country's heritage and background. Sri Lanka is a much more socialistic country, as compared to India and Pakistan, and this has resulted in some very good things, including much higher indicators of literacy, infant mortality, etc. and generally much better health and education systems than other South Asian countries which even compare favorably with those of developed nations. Also, gender equity issues are not nearly as bad as neighboring countries - in terms of work, health, education, political participation, business, and most other areas, Sri Lankan women are far better off than Indian or Pakistani women. More like in Thailand or Malaysia. The country's socialist background stems partially from its traditional Buddhist heritage, which goes back to the Dhamma Kings of ancient times who built some of the best hospitals. I think the solution for Sri Lanka (and the world) is to go back to the ancient idea of local and national self-sufficiency. Exports and imports may be disrupted by pandemics, wars, and environmental disasters which result in the cutting of shipping and communication. Therefore, it is better that countries keep national self-sufficiency in basic products necessary for people, such as rice and cooking fuel, and import only luxury items. This was the situation for most of history; only in recent times has the world become so interdependent that a war in Russia can disrupt the economy of faraway nations like Sri Lanka. Also, a country should not depend too much on tourism, since that is an industry that depends on people having leisure and extra money. Here in Thailand, which also has many tourist attractions, that has been similar problem, although at least in Thailand there is a bit more domestic tourism. In ancient times, Sri Lanka was known as the "granary of the east" so it is so sad what it has come to today. Sri Lanka is rich with so many natural resources - forests, minerals, etc. = and were it not for corruption and for the system of prioritizing numbers and exports, in order to make the rich richer and the powerful more powerful, over domestic self-sufficiency and satisfying people's needs as prescribed by Gandhi and Buddha, it would still be that way today! Thailand, where I have been 8 years, a Buddhist country with similar cultural heritage but that has never been a colony, I think has suffered less because of the policies by the King and Royal Family which have encouraged economic self-sufficiency and help for small business. In a country prone to frequent political crises where democracy is at a young stage, having a King whom everyone respects due to cultural heritage and tradition can help keep the country together. I mean a King like the one in Thailand or Malaysia or like Queen Elizabeth in the U.K. who plays just a symbolic and ceremonial role. Despite 15 or so coups, Thailand has never disintegrated into the same bad civil war ripping the whole country apart, except in a small area of the South, and I think the strong King and Royal Family has been one main reason.

I have visited Sri Lanka 40 Plus times. The country has improved after the Civil War and at the same time taken a huge downward dive. It was coming since Rajapaksa. We used to fly over to Colombo to do the shopping and also for Studies. However, now everything is expensive, especially the huge tourist taxes. Now it's cheaper to fly to Thailand or Dubai. We hope our brothers recover soon. A lot of love from the Maldives.

Thanks for making this great visual explanation to educate the world. Trust me for some Sri Lankans you need to spoon feed but still wouldn’t understand ! I’m a Sri Lankan born and raised moved 🇺🇸 decades ago. I saw this coming 20 years ago, warned all my friends and family members telling them to vote only to real educated politicians who wants to develop the country. For some reason most older people loves thugs and corrupt politicians. And here we go ..

Very difficult times ahead for Srilanka. I pray at least the tourism regains its pre- pandemic level in Srilanka.

As a person watching from the Philippines with no idea whatsoever of Sri Lanka economy and politics, I want to thank you for you detailed presentation. It's clear, informative and direct to the point. I love the graphs, timelines and pictures of personalities involved. Please continue doing what you're doing.

Thank you Amit Sengupta for an honest, neutral and correct description of the crisis. I have always learned a lot from your programs.

You are the person with perfect blend of knowledge, presentation and enthusiasm.. thanks a lot 😊

Thanks Mr. Amit Explanation for the current situation in Sri Lanka. Even Sri Lankan economy experts are not explaining the way you are EXPLAINED 🙏

A succinct and pragmatic approach. No news channel would have given this much information without bias, probably except WION!

It is very rare to see someone this bipartisan and rational at the same time. This man deserves every view and subscriber he gets.

Your analysis is fairly accurate and I must commend you on your detailed assessment. The content is crisp and clear and your method of explaining complex terms with easy examples is commendable. Overall a great video and content!

You explained it well than our own economy experts do. Thank you sir.

This is the best unbiased logical explanation of the current crisis. There are couple of other reasons such as decline in foreign worker remittances during 2021, Easter Sunday attacks affecting tourism in 2019, endless strikes and protests during 2020 and 2021 on the height of covid, extended lockdowns during covid . But you effectively explained the major reasons. Thank you.

You also have remember that if they take a loan from the “IMF”, if you don’t pay it back or are unable to pay it back, then “IMF” can go inside Sri Laka and take their resources and that’s how a country becomes poor. I am not what “Resources” Sri Laka has, they have huge tea plantations and they have many ports that can be used by the “IMF”. I advise the “Sri Lakan” to buy “Physical Silver” and “Physical Gold”. They should have been doing that years ago. If you are not in Sri Laka, this could happen in your country too, buy “Physical Silver” and “Physical Gold”. Thank You for your “Economical Analysis”. It is spot on and comprehensive.