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Sri Lanka, a country in Asia just reported bankruptcy, and the president flees away for protection.
If you are interested in politics, you are probably aware that Sri Lanka, a South Asian country, recently declared bankruptcy and its economy has collapsed. The entire country is out of food, gas, and oil; roughly 22% of Sri Lankans are now in emergency need of food and other living resources; and approximately 22 million Sri Lankans are at risk of shortages of food, fuel, and medicine. Meanwhile, while all citizens are dealing with countless survival issues, President "Gotabhaya Rajapaksa" resigns and flees with the protection of his military and his savings.
Sri Lanka's monetary value increased by 113% in 2022, and the former president (Gotabaya Rajapaksa) stated in a parliamentary session in 2022 that the country's economy had collapsed. In June, most people in Sri Lanka had no choice but to eat what was still available in the market. Sri Lankan schools claimed in March 2022 that they did not have enough paper or school supplies for their students. However, Sri Lanka owes 66 billion Canadian dollars, but the country's economy has recently been too weak to pay the debt. After the president fled, a large number of Sri Lankans began to protest outside the PM (Prime Minister) office. In the latest data on Sri Lankans' salary in 2022, it was reported that around 11.7% of Sri Lankans earn less than 4.16 cad per day.
An image of a huge number of Sri Lankans protesting outside the Prime Minister office.
How does the country run out of money?
Sri Lanka has relied heavily on tourism for many years, but things haven't gone well since Covid 19. Fewer people travel for their safety, and as a result of Covid, air-lines have declined. The country has a large amount of debt, and the majority of the items used by the citizens are all made in other countries.
What Happened to Sri Lanka now?
Nothing has turned out to be very positive recently; Sri Lankans are struggling to survive, and a small number of them have fled to another country near their island that provides better living conditions. In June, 38 people were caught while trying to flee to Australia. The parliament is busy working to select the next president of Sri Lanka.
What the Sri Lanka citizens say about their life.
A lady who lives in the capital Colombo said that "I have a 10-month-old baby. I couldn't even buy medicines for her when she was sick last week".
A lady explained that she is struggling to get milk powder for her child, as well as gas and kerosene supplies to cook food, and pointed to the empty market shelves.
What do the rest of the world's people think about this event that happened to Sri Lanka?
The rest of the world is trying to assist Sri Lanka's economy and Sri Lankans financially through this difficult period. If you look at social media, you will notice that people from all over the world are encouraging Sri Lankans, and many donations for Sri Lankan citizens have already been set up, and they will undoubtedly raise a large amount of money.
What the government claims and reacts to the bankrupt.
Normally, if the president resigns, the prime minister will takes over the place until the citizens and parliament find a better president, but this time was different because the compliments from the citizens were far too loud, and both the president and the prime minister stepped down and resigned, leaving Sri Lanka without a president or a prime minister. Despite the Parliament's claim that they will elect a new president by the end of July, things did not appear to be looking up.