This paper is published in Volume-9, Issue-2, 2023
Area
Economics
Author
Nihar Gandhi, Shulmit Madhav
Org/Univ
Podar World College, Mumbai, Maharashtra, India
Pub. Date
15 April, 2023
Paper ID
V9I2-1180
Publisher
Keywords
Recession, Bubble, Trade Deficit, Currency Crises, Foreign And Domestic Debt, Fiscal Deficit, Credit Booms, and Busts, Shocks, Underscores, Devaluation, Bail Outs, Effects Of Consolidation, Foreign Support, Global Imbalances, Sovereign Policies Failing, Unfledged.

Citationsacebook

IEEE
Nihar Gandhi, Shulmit Madhav. An Insight into the Sri Lankan economic crises, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Nihar Gandhi, Shulmit Madhav (2023). An Insight into the Sri Lankan economic crises. International Journal of Advance Research, Ideas and Innovations in Technology, 9(2) www.IJARIIT.com.

MLA
Nihar Gandhi, Shulmit Madhav. "An Insight into the Sri Lankan economic crises." International Journal of Advance Research, Ideas and Innovations in Technology 9.2 (2023). www.IJARIIT.com.

Abstract

Due to years of economic mismanagement, poor administration, and bad policy decisions, Sri Lanka is presently going through one of its most crucial periods in history. Outside forces including the COVID-19 epidemic and Russia's invasion of Ukraine have also exacerbated the nation's issues, leading to its worst-ever crisis in 2022. Now, Sri Lanka is dealing with a number of issues, such as food insecurity, jeopardised livelihoods, and growing safety concerns. Everyone from all walks of life have been affected by the devastation caused by this catastrophe, but the poorest and most defenceless groups have been impacted the hardest. Sri Lanka routinely experiences natural disasters brought on by climate change, which exacerbates the already precarious position. These problems have broad repercussions, especially for weaker households and communities that suffer disproportionately from the current crisis. To solve these issues, immediate action must be made to guarantee enough food supply, stabilise markets, and assist impacted people.