Is there a political crisis in the island? Do they need a new president? Should Gotabaya resign? Should the government change? Will the economy recover as soon as the government changes?
What is the answer to the question that all Sri Lankans are waiting for right now?
At present, it has become very difficult for Sri Lanka to find the money needed to buy oil, food and medicine for its daily consumption. Currently, the central bank has almost no foreign reserves. Island nation earn their foreign reserves mainly from the tourism sector, tea and clothing sector and from the foreign remittance.
With the Covid disaster, all the main sectors of forex were blocked. This left the country with no foreign reserves. The amount of reserve is also needed to take care of the Covid patients.
It is a fact that everyone admits that there is an economic crisis in the country right now. Should political reforms be done in this situation? Or to recover from the economic crisis by bringing all the people in the world who have knowledge about the economic crisis into the country and carry out economic reforms?
Today, everyone is calling for the resignation of the President. In such a situation, if a political crisis starts in the country, another crisis will arise. This means that the few tourists who are coming to Sri Lanka will be lost, and the garment industry will also be stopped due to the curfew. It will stopping the small amount of foreign money coming into the country.
In the face of the economic crisis, no one should hesitate to change this government, which has failed to make necessary decisions and failed to properly manage public funds. But this is not the time to do it, adding a political crisis to the economic crisis will prolong the time it takes to build the country.
The conclusion of the economic analysts is that it will take a long time to recover the country through this economic crisis and no matter which government comes to power in such an environment, that time will not decrease again. Money does not flow into the country. What we should do is to force the existing government to carry out economic reforms.
