How one powerful family helped derail Sri Lanka’s economy

Sri Lanka is in the midst of a crippling economic crisis – and analysts say a powerful family is to blame.

In July 2022, Sri Lankan citizens attacked and occupied the presidential palace of the Republic after months of protests. The protesters had one major demand: the resignation of Gotabaya Rajapaksa, then the country’s president.

The protests came in the wake of the worst economic crisis the country has seen since independence in 1948. As a result, the country’s population struggled to get their hands on essential commodities such as fuel, food and medicine.

While some factors, such as the Covid-19 pandemic and the 2019 Sri Lankan Easter bombings, were beyond the government’s control, political and economic analysts told CNBC that, ultimately, some major policy mistakes by the Rajapaksa political dynasty were to blame. Economic collapse of Sri Lanka.

So, what do we know about the Rajapaksa family and what were the policy decisions that led to Sri Lanka’s financial crisis? Watch the video above for an explanation.

Source link

Leave a Comment