Sri Lanka Meltdown: Can New Prime Minister Save The Country From Bankruptcy? | Insight
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- เผยแพร่เมื่อ 27 พ.ค. 2024
- Sri Lanka is on the brink of bankruptcy. A country of 22 million people once referred to as a ‘Tropical Island Paradise’ is now in a free fall. It has defaulted on all foreign debts. Its access to international financial markets has been cut off. The rupee has gone into a tailspin, and there's now spiraling inflation. Cities and towns are submerged in darkness for hours, with no fuel to produce electricity. Cooking gas, medicines, milk powder and other essential commodities are all in short supply.
Prime Minister Mahinda Rajapaksa and his entire cabinet have resigned amidst protests and violence in the streets. Can veteran politician Ranil Wickremasinghe who has just taken over as the new prime minister steer the country's sinking ship to safer shores? And how could a nation slide into disaster and chaos so fast?
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The problem of Sri Lanka is corruption and nepotism, from the top of the moutain to the deepest valley
Everywhere
The problem is capitalism, socialism the solution
@@olmo4445 You can have any type of government but if the people in charge of it are corrupt and incompetent then it's all gonna go to hell. If you put a capable people even in an imperfect type of government system they can still make good governance.
@@olmo4445 which kind of socialism?
China is just sucking those poor countries because they know that they can't never pay back those money's.
Implementing theses hugely costly ‘green’ policies before a country is in a position to really afford them is insanity. It’s like a farmer coming home in the early 20th century and announcing he’s shot the horses because they aren’t as efficient at ploughing as a tractor, even though the farmer has no money to buy a tractor.
You are absolutely right
Lulabelle Gnostic.... In America they would call this an insurrection!
This is happening in Europe also. They banned Russian gas and now prices are going through the roof.
They are telling us to buy an electric car.
What they do not understand is most people do not have the money for that kind of car.
Its nothing about "going green" they were just idiots who though they could ""save money"" by not importing fertilizer. As always dictators are idiots who never ask experts their opinion before they do stupid bullshit
Politicians every where who are egoistic and no regards with their constituents sufferings due to their self esteem and family interest will be the downfall of living earth because people like this will someday push the button for nuclear war. 🙏🌎
Watching from Philippines 🇵🇭 , hoping and pray for the fast recovery of their economic crisis🙏🙏
Yeah….this is going to take a miracle and a lot of time. The elderly are screwed over there.
First time I heard this news of them months before, I thought somehow the government would fix it. Then I go deeper and found out that they've banned chemical fertilizers. As an agricultural country, you must've known that you can't go 100 percent organic overnight. It's just another way to do Zimbabwe 2.0
banning fertilizers is just superficial.the real reason behind is their dwindling foreign reserves to buy those fertilizers.no reason to be organic as a nation.
Lee Kuan Yew (late Singapore leader) used to meet six Presidents of Lanka before passing away. Among all, he deeply disliked the Rajapaksa family, in particular President Mahinda. An interview back in 2011 exposed it all.
“[Sri Lanka] is not a happy, united country. Yes, they have beaten the Tamil Tigers this time, but the Sinhalese who are less capable are putting down a minority of Jaffna Tamils who are more capable. They were squeezing them out. That’s why the Tamils rebelled. But I do not see them ethnic cleansing all two million-plus Jaffna Tamils. The Jaffna Tamils have been in Sri Lanka as long as the Sinhalese... I don’t think they are going to be submissive or go away. The present President of Sri Lanka believes he has settled the problem; Tamil Tigers are killed and that is that... I’ve read his speeches and I knew he was a Sinhalese extremist. I cannot change his mind.”
Bear in mind that Lee Kuan Yew also ran a state of multiethnic with plenty of problems like Singapore like Mahinda for Sri Lanka, and yet Lee could turn the impoverished island into one of the most prosperous (while Mahinda made the reverse), then I won't doubt Lee Kuan Yew was right about the Rajapaksas.
The President is part of the Rajapaksa clan who mismanaged the economy. Question is why has he not resigned ? This is going to get worse #.. I am sorry to say If I was a leader I would request accession into India and request complete help from India if India would consider this !
Another thought is if Sri Lankans voted for Rajapaksa knowing their history many would say They got what they deserved !! very sad
Similar to Americans voted for Biden & Democrats and Americans got what they deserved ! Afghanistan fiasco Ukraine fiasco Inflation fiasco Fuel and food fiasco .. Consider During Trumps term Trump didn't start a war and none of the Dictators started a war during his term While many considered Trump big mouth and not presidential He was not just good but the best president for the world there has ever been since Ronald Reagan.
Lee Kuan Yew was right about almost everything.
Personally if you ask me Lee Kuan yew is a genius and legendary politician who only thought about his country's future. Such politicians are very rare in history.
Lee Kuan Yew could unite everyone and turnaround a country. Rajapaksha could only disunite and destroy and STEAL.
During his first visit, Lee admired Sri Lanka for its natural resources, infrastructure and reserves
Before the rajapaksas flee the country Sri Lankans must turn every one of the
rajapaksas upside down and make them return every single dollar of the billions of dollars the rajapaksas stole from the coffers of Sri Lanka. After that the rajapaksas and their thugs must be jailed for the crimes.
The rajapakshas should be put on public trial in sri lanka. Confesigate every looted wealth these BASTARDS took.
Southeast Asia also felt this during the financial crisis of 1997-98, but after that we managed to rise and be better than before. I hope Sri Lanka can get through these difficult times and comeback stronger
Look it's not easy.
You are saying that SEA recover during financial crisis but at that time there is no war like Ukraine and Russia or COVID like situation so many developed nations had looked the situation at that time that's why SEA nations recover quickly but here in case it's completely different from that period.
@@naresh9515 Agree Sri Lanka was hit very hard. Covid, war on other countries and stupid spending and corruption in their government at every level. That will happen when government miniteries is literally run within same family.
@@sky6089 the same family has been stealing money from the country for YEARS. They all turned a blind eye to it.
And only now once Covid ruined their economy they’re getting mad at them now
Thanks for blessings.
They are an import economy which is the issue . When the money is gone , so are the imports and all your left with is debt . They don’t make anything to sell . So go agricultural or borrow more
Tough time doesn't last long,tough people do..Hard time always creat great men..Who in turn create good time....I wish thi country best in future.Love from India.
This is a superb piece of work bringing out the bitter reality of Sri Lanka today. It is a must that the world see the prevailing pathetic situation in our country. A job well done to pour out the actual situation along with the hardships of the innocent people who are suffering terribly in all areas of their day to day life. I wish to extend my heartfelt gratitude to CNA, its executive producer and the producer of this excellent piece of work. I hope you all at CNA will keep up this noble deed of exposing the real situation in the country to the world to have a better understanding about our beautiful country undergoing a critical situation..
Such a shame to see a beautiful country like Sri Lanka head down this path. I was lucky enough to spend time there on a project around 2014 , and i remember thinking it was such a wonderful country whose people all seemed so up beat and positive after decades of unrest. I wish you the best.
Sri Lanka did two things at once in the 1970s. The first was to open the economy, the second was to initiate pro-Sinhala policies. Opening up the economy was a good idea but funds were wasted in unfeasible projects with the shift to manufacturing unsuccessful. The present crisis will hopefully fix this. Afterwards, once the Tamil issue is also settled, the nation will truly be on track for a bright future.
Not sure The President is part of the Rajapaksa clan who mismanaged the economy. Question is why has he not resigned ? This is going to get worse .. I am sorry to say
If I was a leader I would request accession into India and request complete help from India if India would consider this !
Another thought is if Sri Lankans voted for Rajapaksa knowing their history some would say They got what they deserved !! sad
similar to Americans voted for Biden & Democrats and Americans got what they deserved ! Afghanistan fiasco Ukraine fiasco Inflation fiasco Fuel and food fiasco .. Consider During Trumps term Trump didn't start a war and none of the Dictators started a war during his term While many considered Trump big mouth and not presidential He was not just good but the best president for the world there has ever been since Ronald Reagan.
And how you will Settle the Tamil subject?
@@doucefrance5481 An easy solution would be to adopt a federal system like the USA or India. The Tamil people will have their own state with a state assembly and considerable powers devolved.
@@sendakan666 isn’t a separate state and self governance what they wanted to start with? Which started the whole thing?
Remember, the LTTe weren’t the only ones who wanted a separate state.
Tamils originally started campaigning for a peaceful solution and the ability to manage and govern their own home lands. But when that wasn’t working the LTTE took all the peaceful groups out, and chose war when it was clear the Sinhalese wanted war too.
@@sendakan666 In my opinion, none of this would have been needed if the Sri Lankan government treated all ethnic groups equally. If Sri Lanka never descended into ethnic disharmony, Sri Lanka could have eventually adopted a similar system to Singapore's CMIO model. Sri Lanka only has a small population living on a small island where ethnic groups aren't exactly separated by provinces because everybody lives everywhere. Sri Lanka could have easily recognised the idea that Sri Lanka has 5 main ethnic groups (Sinhalese, Tamils, Moors, Malays and Burghers/Eurasians), an idea that already exists among the general Sri Lankan public, and modelled it after Singapore's CMIO (Chinese, Malay, Indian, Other) model at a national level. Sri Lanka began cracking when the government enforced the Sinhala Only Act. Many people speak of the Tamils but the situation of the Burghers/Eurasians is worthy to note because they also felt disenfranchised. It's no surprise that many Burghers/Eurasians ended up migrating to Australia where they and their descendants now form a sizeable portion of the Australian-Sri Lankan community.
It is the time to see how much money Rajapaksa family has taken from people in SL. Rajapaksa is still rich with corruption while people is hungry and suffering.
Let them not leave the country but rather be put in jail
Then why did the people still vote for the Rajapaksas?
CNA bringing us the best documentaries as usual, it's a pleasure to follow this channel, grretings from Bolivia
The case of Sri Lanka is quite peculiar because this is a country that had everything going for it. This country could have harnessed what it had in the 1940s, 1950s and 1960s but decided to go down the route of ethnic disharmony and violence. The leaders of yesteryear were more interested in fuelling their egos and righting the wrongs of the past instead of moving on. Despite the end of the war in 2009 and the hallmarks of a new economic miracle, the situation did not improve because the country was fractured along ethnic lines and there was no effort to create some sort of peace and acknowledgement of the past. With high economic growth rates of 9% in the early 2010s, Sri Lanka eventually peaked as an upper middle income nation in 2019. Sri Lankans, at one point, enjoyed a per capita national income that was higher than all other South Asian countries except for the Maldives, along with a longer life expectancy as a result of strong social services such as healthcare and education. Sri Lankans began living longer and longer to the point that the country has now become one of the fastest aging societies in the world and began to recruit migrant workers from India, Bangladesh, Nepal and Myanmar to combat its shrinking workforce (problems that high income nations face, not developing ones but it's a testament to Sri Lanka's successful efforts in boosting the quality of life for its people). Sri Lanka's last beacon of success was in 2020 when the country was successfully able to control COVID-19 by pursuing a Zero COVID policy using contact tracing and harnessing its good healthcare system bringing cases down to 0. It performed so well that it was ranked #10 in the world among countries that were most successful in controlling the spread of COVID-19 by the Lowy Institute. What we see now is the beginning of civilisational collapse. All civilisations peak and decline. What a shame to see everything they achieved and what they could have achieved go down the drain. You will never get far if you continue to divide and conquer people. Sri Lanka now pays the price for everything wrong that its leaders, past and present, did to the country and its people.
This is the excat same thing happening in Malaysia.
@@xxxcool2565 Yeah the situation in Malaysia is worrisome too but I feel like Malaysia still has a window of opportunity to correct course so it doesn't fall into decline. Malaysia is also so close to becoming a developed country, it would be a real shame to break down whilst being so close to passing the World Bank's threshold of "high income nation".
@@user-jt3dw6vv4x not if malaysia continue with the current political party helming the government. Its full of corruption and administrative failures. They are already facing shortage of food and high prices of materials. Its just a ticking time bomb waiting for the time to explode and by the looks of it, very soon
@@xxxcool2565 Yeah you're right. Despite its myriad of problems over the decades, Malaysia was still able to boost quality of life for most of its inhabitants and for a time pursue an economic strategy used by the Asian Tiger economies during the 1990s which helped the country become an upper middle income nation. It would be a complete disaster to see all of that go to waste, people's hard work and efforts to uplift the country go down the drain. You're right nevertheless, the climate of the world has meant its becoming increasingly harder for low and middle income nations to go about business as they normally would. Inflation, food shortages and rising cost of living is undoing so much work that a lot of developing nations achieved over the past 2-3 decades.
@@xxxcool2565 Malaysia's economy is nowhere near as dependent on remittances and tourism as Sri Lanka is
Srilanka is not possible to come out of this debt cycle. Srilanka should start creating manufacturing industries. A country that doesn't export services and goods is doomed to fail. Tea and tourism is not enough.
Exactly. That's why all of the booming Asian economies are the nations that have robust manufacturing industries. Sri Lanka has a garment manufacturing industry but it's nothing like the industries in Bangladesh, Vietnam or China. The wise thing Sri Lanka should have done in the early 2010s when it had high economic growth was to adopt the Asian Tiger economic model which has proven to work. Bangladesh and Vietnam currently use the Asian Tiger economic model and both countries are now rapidly developing and have thriving garment and tech manufacturing industries.
@@user-jt3dw6vv4x bangladesh only has garment industries like srilanka
@@heisenbergs9415 Bangladesh also has a growing tech manufacturing industry. Samsung, Sony, Nokia, Xiaomi, Realme, Vivo and Oppo all have manufacturing facilities in the country. This is common knowledge.
@@user-jt3dw6vv4xhmm there is some tech industries like this but absolute majority of the economy of Bangladesh is constituted by garment industry export which is also why Bangladesh rank low in ECI(economic complexity index).
@@heisenbergs9415 That's why I said "growing", it's a fast emerging industry in that country. They're diversifying through the electronics industry. You seem to have a problem with everything I have said. All these comments of yours to negate everything I said. Let me guess, you're from India. That's why in your initial comment you said they "only have a garment manufacturing industry" and then when I tell you all of the companies that manufacture products in the country, you said. "hmm there is some", you keep changing your story because you don't know what you're actually talking about.
Plus, idk why you need to like your own comments.💀
Feeling sad and scared for the brotherly nation of Sri Lanka 🇱🇰 from Bangladesh 🇧🇩
So heartbreaking to know the suffer from their people was caused by their leader’s incompetent skill in managing economy and stupid policy. Taking debt for unproductive project is utterly devastating. Hope new leader can bring the country to be better condition. Pray for those starving people. Pls hang on there.
Are you Sri Lankan?
Because of Biden the US is right behind them !
@@qxezwcs nope
Amazing insight and lets do what we can to support everyone who is genuinely trying yo do right by the nation get back our Praise to where it should be. God Bless Sri Lanka
Sri Lanka 🇱🇰 you will get through this. Hang tight 🙏🏻🙏🏻. Love from 🇰🇭. Cambodia. Government need to do a better job!!!
Won't get better as long as Ranil Wickramasingher and the Rajapaksers are in power.
Follow Lee Kuan Yew's policies he implemented for Singapore - unite everyone, English education system, democracy, meritocracy, forward-planning, corruption-free government.
No such thing as democracy in Singapore lol
There is no democracy in Singapore - fortunately
@@LKH9Channel u r right.i agree No such democracy in singapore. People used to think singapore is a VERY VERY DEMOCRACY NATION. And also corruption free goverment(not to mention if we investigate deeply total money in banks they hv inside or outside country/companies their created during service), i think the money their have would serve their future 3 generation. 😅
@@lenglui2004 if you look at my channel, all of them are illegal in Singapore, I cannot imagine myself living there! And no chewing gums, how is that "democrazy" lol
And yes, you're absolutely right, the founder's family has shitloads of money, now the sons and daughters fight for their father's property. No human is totally clean and pure.
@@LKH9Channel What Singapore has, is by far superior to what Sri Lanka currently has, irrespective whether you think their democracy is a joke. I live in Australia, and I don't believe there's any country that actually really practices democracy, with the exception of Iceland and Switzerland.
Sri-Lanka did this to itself by depriving it's citizens, industries and farmers of the benefits of fossil fuels. This should be held up as a wake up call to those idealistic fossil fuel deniers. Denial of fossil fuel use results in misery, starvation, economic collapse and death, but that's what the climate alarmists want isn't it?
Someone needs to tell that to idiot Biden 🤬
If you’re brain dead enough to equate Sri Lanka to first world countries then yeah! You’re right!
Sri Lanka's RISE in such a short time less than 02 years is a testament to our resilence, commitment and new leadership
by far this is the best journalism that is published that displays clearly how bad the situation is. Subbed more power and i hope srilanka recovers from this
Truly heartbreaking.😢 Don't lose hope. I'll be praying for you.🙏
It's a sad story of what Sri Lanka has become and what an unwise and corrupt political regime/family can do to its nation. Not long ago, there would be debates in intellectual circles of the rest of the South Asia on how Sri Lanka acheived what it acheived despite its terrible civil war and deep ethnic faultlines. In terms of human development paramters - it exceeded all others in the subcontinent. Now, we are talking about taking precaustions of how to prevent ourselves from becoming another Sri Lanka.
Hope our Sri Lankan brothers and sisters come out of this crisis soon. You guys are one heck of resilient people. Build back better!
Best wishes from Nepal!
Sri Lanka was always in a financially volatile situation and this was a crisis waiting to happen. People were just exaggerating Sri Lanka's economic dividends after the end of the war in 2009. Sri Lanka has always had major social and ethnic problems since indepedence and now has major economic and financial quagmires to add to that as well. As a whole, Sri Lanka is a virtual failed state. Period.
Thank you for this video/ posting. This is a eye-opener of what's going on in another,country. SHALOM.
Great video. Story well told, event sequence is well coordinated, the subjects are natural on the camera and articulates themselves clearly, good narrative overall. It's educative but not overly emotional or sensationalsed. The seriousness of the situation is well presented and recognised experts used for opinion. I'm not at all sure that Ranil can deliver, but I guess that's the whole point of the story. It's a long, harsh storm, navigating it is easier said than done.
Don't remove the leaders. Cut their salaries to acceptable levels, but, make them work hard for it and demand that they solve the problems SriLanka is facing.
Best documentary with relevant facts with appropriate interviews with right people. Thank you.
We pray our friends in SL has some good news to rejoice but it seems Thier despair are getting more dire from day to day . Sad to see all this misery experienced by Ordinary Citizens , In the end these people SUFFERED due to the acts of Egoistic and incompetent politicians .
If im suddenly become prime minister of sri lanka today, i'll resign in a second.
I really dont know how sri lanka can be back to normal life. Imagine having so much debt that your country cant impor fuel anymore, freezing the economy, still there is russia-ukraine war, and covid. What can you do? More debt? While country economy still plummeting?
Even Venezuela crisis isnt as bed as sri lanka.
And for sri lankan, protesting doesnt help for now, its too late, you guys need to protest before this happen.
They voted for corrupt leaders and gave them overwhelming majority. Srilankans supported the same family that controls all political parties. They celebrated when this family spearheaded the Chinese backed army to rape, kill and wipe out millions of minority Tamils. Now it’s time to pay for feeding a monster.
LANKA HAS TO PAY
Sri Lankan’s turned a blind eye to the Rajapaksas robbing them blind for YEARS and just accept that ministerial corruption is part and parcel of politics.
Sri Lankan’s are implicit in keeping this family in charge for as long as they did.
It’s too little, too late
@@koobie83 @userD. Totally agree. Just a simple analysis. Since independence in 1948, in which direction did SL 'progress'? Whatever little progress it may have experienced, if that was the case, were the results of the efforts made pre-independence. It was only regress since 1948. What does that mean?? Sri Lankans are utterly incapable of running their country. Whatever changes the current protests will never going to bring any progress in SL; not just now but in a 1000 years. Why are people white or black or coloured? It's in their genes. Similarly Sri Lankans do not have it in their genes. Isn't 75 years sufficient evidence? Recently in a video I saw the current Minister of Justice prostrating in front of Buddhist monks (I haven't seen or heard of such things in advanced countries elsewhere). That's the level of intellect they have. No one can dispute the fact that many major things SL is enjoying now like road network, railway network, postal service etc., were left behind by the colonial rulers and in fact detetiorated (government bus service) or disappeared (like tramps, trolly buses) since independence. Sri Lankans percived intellect is the best in the world when it comes to cirruption, mismanagement, nepotism etc. It's not just Rajapakses but the entire nation. Just swift SL news for just the past 10 days, one can see it everywhere, 360 x 3D degrees. Peoples Bank NPLs case, State Pharmaceutical Corporation computer software case, Sathosa case, MIG case.
Someone commented that sri lankans are innocent. Is innocence synonymous with imbiciles, fools or idiots?
Srilanka ignored ethnic toleration and played to the majoritarionism... LKY is a visionary in this aspect and deftly dealt with this problem when he formed Singapore. Generally equal opportunity for all...and no religion and racial hatred tolerated...
Much of economic wealth was spent in creating and spending for the military.. the minorities were suppressed for long ..
Many of the well educated people were force to leave as refugees.. the inexperience experts have created blind policies, led to the downfall of the country during a crisis...
Normally crisis exposes the hollowness of the country's knowedge...
The rajapaksa must be put to jail for dragging the country into poverty
As a Sri Lankan, I feel that the situation here is heartrending because people from all walks of life are currently facing a number of difficulties in fulfilling their everyday necessities. The burning issues in existing context were not occurred overnight but were gradually snowballed.
The family that ruled your country so many decades and stole its wealth and send it to bank accounts adroad in Switzerland and caiman islands and made only the worst decisions for your nation should give it back from
@@user-df9ev5ur4s and what happened in Greece ? If Germany and Europe didn’t help you imagine in what state you gonna be today !
@@KK-eu6ym As you said European Union did helped us and they will help us again, Sri Lanka unfortunately does not belong to such an economic organisation.
Super high inflation, mounting huge debt, national currency goes into tailspin, essential items are in short supply, frustration and anger are rising as life is getting harder every passing day, future of Sri Lanka looks dire and desperate. Pray the worst is over and the best is yet to come soon for Sri Lankans. Amen! 🙏🏼🙏🏼
People should be wise enough to elect honest, wise and educated representatives to rule their country if they want a prosperous country.
Individual freedom makes a country a country a FREE COUNTRY.
And what if the system has only offered them a corrupt candidate? Powerless won't have a say and a decision to this issue.
@@merdekaagussaputra1504 I've said this many times. People need to STOP listening to politicians and their promises, instead they need to look at their past, their behaviours and the deeds they have done, that benefited the whole populace, not just a chosen few. Then when they have discovered the REAL politician, not they one being portrayed, make their decision whether to vote for them. BUT, sadly, very few people do this, instead just follow the propaganda and then wonder what hit them.
One family destroyed this once prosperous island nation.
His wife is very hardworking good person.
Sad. Too much corruption by politicians. People suffered.
Well I am a tamilian and i consider srilankans as our neighbors brotherhood. I could see this as a karma , whatever you did for our rebel leader Mr.prabakaran . A notorious genocide was taken place to our ltte rebels However this is not a time to criticize about the srilankans economic conditions. I just reminding the past because it is still not toleratable. To get a stable economic conditions in srilanka the dectcter Rajabakshe and his family dominance Should be sacked.
Another tamilan sitting comfortably in TN or Canada and creating hatred along ethnic lines. If you ain't srilankan tamil, you got no rights to criticies others.
@@proudtamilan9772 it might be misconsumed by you but not my concern and my words are truth however glad for your concern for my comfortability . Karma is boomerang.
Gross mismanagement on the part of inept politicians, causing unbearable suffering for the ordinary citizens.
Greetings from Switzerland.
It was the citizens who voted for these exact set of politicians into power. People get the government they deserve in an electoral democracy like Sri Lanka. Ergo, Sri Lankan people deserve this crisis.
Enabled and elected by an ignorant and impressionable population.
This is so sad. Pray and hope that Sri Lanka will soon see the light at the end of this tunnel. Keep strong and hold on tight this soon shall pass.
What a crisis that we faced now a-days, will never no how will come over from this. I’m really glad Mahesh that you have done such a nice piece of work with CNA and Mr. Tamal Mukharjee.
Hope will raise as before as one nation. 🇱🇰
This is a human tragedy. I can just imagine the loan sharks like the IMF and alike rubbing hands together to do what the exiled administration has done in a legal manner to overtake the nation to serve them.
The world must provide support to at least feed the ordinary and innocent people that were robbed for trusting corrupt officials and politicians. Our prayers are with you Sri Lanka.
Who’s mistake it is , the IMF ? It didn’t start in a day
@@shaf3006 No it didnt start in a day, you are right my friend. As far as we know it began with the battle of Waterloo with the aid of Rothschild, the spread of misinformation that Napoleon was winning the battle, in turn created a panic at the stock market that was fabricated to take over the bank of England by Rothschild to consolidate the money control of Europe, later taking control of other continents money by placing his family members in charge of those banks, namely his sons. Today, here we are enslaved to worthless promissory notes that we call money.....
@@beklerken1, at least now the people have the guts although it's late
@@shaf3006 I agree. I wish that all nations of the world, meaning the ordinary people can stand up to these politicians that serve the world banking cartels that have enslaved the world to their worthless promissory notes that we call money. peace from Oz
When i lived in sri lanka, we used clay stove and use coal or wood for fire. People biked everywhere. I think people in the north are okay as people always lived in that condition. No electricity, fuel shortage, no medicine, bombings, that was very common in the north. Hope it gets better for everyone.
I don't understand your point of view. Are you saying that the family living conditions are the standards for how northern Sri Lankans live over the years? or is this something that is only becoming common now (shortage of basic living conditions) because of the recession Sri Lanka is experiencing?
@@nungdickinson431 he is saying that was the standard of living in the north for the last 20 so years, so people in the North are used to living like this, as a Northerner I can confirm.
Great story. Super video and story was well told. Situation of the country is explained well.
The way the us is going it’s gonna be us soon . Which is why we all should care
This is so heartbreaking 😓
It is so so SAD to see what the Rajapaksa’s have done over the YEARS to Sri Lanka and it’s economy and it is it’s people who will SUFFER for the REST OF THEIR PAINFUL LIVES! They truly have turned Sri Lankans into BEGGERS of the world where from now on they will have to go BEGGING on their knees around to each world leaders for money for the REST of their lives ‼️‼️💔💔
The President is part of the Rajapaksa clan who mismanaged the economy is big part of the problem. Question is why has he not resigned ? This is going to get worse #.. I am sorry to say If I was a leader I would request accession into India and request complete help from India if India would consider this ! # Another thought is if Sri Lankans voted for Rajapaksa knowing their history, many would say They got what they deserved # !! very sad for those who did ask for Rajapaksa.
Similar to Americans voted for Biden & Democrats and Americans got what they deserved ! Afghanistan fiasco Ukraine fiasco Inflation fiasco Fuel and food fiasco .. Consider During Trumps term Trump didn't start a war and none of the Dictators started a war during his term While many considered Trump has big mouth and was not presidential He was not just good but the best president for the world there has ever been since Ronald Reagan. At least Trump's supporters can say the election was stolen with mass irregularities, still serves the Democrat voters just so.
People were cheering when he reduce VAT in 2019
We are worry Malaysia will be the next country. The Malay government spent money fast . Sooner or later , our situation will similar with Sri Lanka.
Funny thing, I recall when Malaysia told the IMF to go F**** it'self and it's monetary situation was better than many countries. Then for some strange reason, they opened the door to the IMF and what happened ?? L.O.L. Serve you right. NO ONE should ever allow these crooks into their countries. Check out their historical precidence, every country that allowed them, has severe financial issue as a direct result.
🙏for 🇱🇰 from the 🇵🇭
Here in Maldives. Life is good. We are lucky.
SL should not be in this situation.
This is all corruption and mismanagement.
I believe the Maldives is going to graduate into a developed high income nation soon. The national income for the Maldives has continued to grow over the past few years.
This is heartbreaking 💔 Once again, corrupt leaders, have no regards to others and always innocent people suffering. I'm sick of this. This has to end. We need to do better.
Also, avoid IMF loan by all means. Once you take an IMF loan, Siris own your country. SL chinese port is the only foreign investment that is actually making money. The rest of foreign money is in their leader’s pocket
This is really heartbreaking. The US gives billions of dollars to the NAZI in Ukraine to prolonged the war but they can’t even give a little of that to help Sri Lanka. That shows the true color of America
This is really heartbreaking. The US gives billions of dollars to the NAZI in Ukraine to prolonged the war but they can’t even give a little of that to help Sri Lanka. That shows the true color of America
@@blardymunggas6884
The Sinhalese Especially The Monks Are Not Too Fond Of America.
See Trincomalee Port Was Eye By America For A Listening Post For Iraq And Afganistan But We're Blocked By Bhikkhus.
friends in Sri Lanka, please stay strong
Why Sri Lanka? I have friends there and can't even send them 10 lbs of dry food because UPS wants $400 to ship 10 pounds there. That's ridiculous!
Reasonable coverage of the crisis, thank you. Some of the major set backs among other things, can be mainly stated to have attributed to present crisis are 2019 Easter bomb attacks and followed with almost 2 years of shutting down the country due to the Covid 19 pandemic, Govt's subsidising essential commody and energy prices at state cost and partly the incompetence economy management during the past years. With the help of nebouring countries mainly India and other countries in the world, people in Sri Lanka have to get together and work tirelessly to get out the crisis situations! Positive mindset of people amidst of economical hardships is key to achieve short and long term objectives.
you are wrong. This crisis was caused by president Gotabaya Rajapakse due to his egoisitic mindset. He needs to go home. People cant do anything!
@@maximus6884 If president GR is at fault or not capable to handle the country, it deserves different cause of action to send him off, no doubt about it. However, one has to closely analyse/ scrutinise the areas stated by me which mainly contributed to the current crisis of the country in totality and in order to find solutions and overcome the issues.
Sri Lanka's leaders got them trapped in debt, its all their fault. Now everyone suffers except them.
Firstly let me to appreciate your initiative by developing this project which will help to build awareness of our motherland current situation for world.work you guy's have done outstanding. I would like to suggest, action plan should take place through constitution correction.
1.Minimum Qualification should be Graduated in University.( From Municipal council level )
2.Every Parliament Minister should do Project and evaluation should Carry monthly basis. By any chance is relevant minister unable to deliver project expectations, he or she should remove from the department.
3.Project update should transparent to the people and should have option to checking online platform.
4.After 55 years no one eligible be in Parliament.
5.law correction to recover money from corruptionists
with a new good leader to be installed and a people who is united who wants a better country,/government it should be not long that Sri Lanka can rise again.
This is superb. They should do more videos like this for people to realise what they have done to this country. Thumbs up
Sri Lanka should ask the British to come back and rule them.
😆🤣😅😂
Politicians and their families are living in luxury but the people are suffering without their basic needs.
People will not tolerate greed.
Get ready to stand long line, when the bank runs start here. ATMs empty, and cash at the store etc.
Just move.
Please have emergency cash to pay bills for as many months that your money is locked in the closed banks and ATMs. Stores will want cash. an cash will be devalued.
I am 79, but moved to Querétaro,Mexico in 2021, because USA is too deadly and expensive.
I moved to Mexico at 79, because USA is too expensive and deadly.
So often media portrays financial collapse in terms of inflation, debt, stock markets etc but the human cost is often ignored. Hope for a quick recovery for the people. Don't punish the people because political leaders made poor choices.
If Tamils were given equal power and voice in government, this wouldn’t ever happened as we would naturally grew with India! It’s still not late 🙏🏽
Sri Lanka is one Buddhist Country, but the govt there did not practice Buddhist principals I'm their daily lives..... If they did , their Civil War wouldn't had happened....
That Sinhalese Act policy disharmonize the country... And the country/govt FAILED.....
@@tehcsiamg3185 they are Hindu perayah!
that has absolutely no correlation.
I feel so bad for the people in Sri Lanka. Living in Europe there's not much I can do, but I'm _actively_ looking for and buying products from Sri Lanka. It's better than nothing.
They voted for corrupt leaders and gave them overwhelming majority. Srilankans supported the same family that controls all political parties. They celebrated when this family spearheaded the Chinese backed army to rape, kill and wipe out millions of minority Tamils. Now it’s time to pay for feeding a monster.
LANKA HAS TO PAY
God bless you as a sri lankan living outside the country i feel bad seeing this. Beautiful respectful country.
@@user-gn7in7tp4b this is what happens when people vote based on lanaguge/race. And fall for the propaganda and hate campaigns of clowns like St. Rajapaksas.
@@t.4999 it is not all based on votes in this world votes don’t matter there are the higher elites that rule these decision and the world and they put 50% truth to us and to the news.
@@t.4999 👏🏽👏🏽
great video. reminds me similar situations of emerging countries right now. pity solutions are not talked much but only bail out from IFM
Hats off to the hard working couple 💑. Never keep longterm any party in power.
People this is why you should always live below your means and save the rest you should always have savings for a rainy day if you earn 10 dollars save 2 ...
I agree with you, but most of Sri Lankans have problems to save and deal with money, I mean the middle class people not the poor people,
they have no possibity to save money.
You can save as much as you want if there is no food to buy what good is saving ?
1. The 2019 Easter Bombings resulted to Foreign Tourist decline which means LESS foreign earnings for the Country.
2. The COVID-19 Pandemic has severely increased unemployment to point that economic activity is paralyzed.
3. Lastly, the current "Oil/Energy Crisis" because of the Russia-Ukraine War.
These events are just too much for a country like Sri Lanka which is import dependent.
Sri Lanka is Asia's Venezuela...
A Simple Recipe for Economic Disasters for Both countries.
"Import more than you Export"
" Borrow more than you can Earn"
So simple a lesson to learn for the other nations and individuals also.
include incompetent government into the equation as well
It's so sad to see that the people are suffering because of the government. Sending love, prayers to all. Hopefully it will get better for them soon. Nobody should be suffering in 2022.❤🙏
Stay strong Sri Lanka, a beautiful country with great leople 🇱🇰👍
This is what happened when you chose populism (reduced tax, minimum wages, pay peanut tax and asking for high govt payout etc)
Exactly! The people themselves are to blame. Corrupt people voting for corrupt politicians.
Prayers from 🇮🇳, everything will get fine Lanka, be strong✌🏻
"everything will be fine" meanwhile people are starving shut up
" The Sheep spend Their whole Life fearing the WOLF, Only to be Eaten by the Shephered " !
Once You Understand this Statement the GAME Changes & You Start to Understand POLITICIANS & POLITICS "
Srilanka is now endless money pit. IMF loan will help to just pay interest and postpone the problem by few months.
IMF? You got to be kidding. IMF loans is the killer
They defaulted foreign debts tho. sri lanka is in trouble.. no loans will be approved.
How can news on Sri lanka be complete, without even mentioning the word "buddhist terrorists"? The fact is, the truth of what is going on in sri lanka may never be known, because the media there is rubbish. Good journalists have already been killed or silenced by the buddhist supremacist terrorists. the journalists who remain can only ramble along the lines of known issues and prevalent rumours. They neither gather inside information, nor do critical research.
What is going on, resembles closely the "Arab Spring" and the IAC ( Anna Hazare ) which were both sponsored by CIA. There is no such thing as a spontaneous revolution. In the case of Sri lanka, the CIA is involved, most likely because Sri Lanka refused IMF dollar loans, and went to China instead. Read the book "Economic Hitmen", to realise the methods used by CIA to force nations to take their dollar loans. The new PM will definitely go back to dollar loan. and that is what just happened.
Everything rises and falls with leadership. This is clearly seen with what happened in Sri Lanka.
Sorry about what is happening Sri Lanka but this is only the beginning of your and also "our" troubles. Many will be sharing the same faith in the nearest future and even more in due time, its inevitable. Lets ask ourselves, sampai bila nak mcm ni? Tak sayang ke anak2 korang? All the best.
Is this the Karma they are suffering for killing millions of Tamils in the North. They are still going through the same situation till today.
Whose karma? All 22 millions affected, you get some life or stop smoking drugs.
so sad how sri lanka has been ruined.....because of selfish leaders....
When one religion talks about that our god is one n only than how can be we develop our nation 🤔🤔🤔as others have their own religion m respects
Thank you c n n for this wonderworks documentary of this island showing the truth
great video
Any countries motto should be self reliant in each & every sphere of economic activity instead of concentrating only on tourism industry. Corona pandemic has flattened sri Lanka's economy in addition to massive corruption by Rajapakshas.
Sri Lanka used to be the role model for countries in Asia in the early 50 on wards......Exporting human capital to all countries colonized by the foreign masters then.
Today it in such pathetic situation with economic calamities, no food, fuel or even any other essentials.
It is all due to mismanagement of the nation by the recent government in power, excessive foreign borrowings,corruption, abuse of power, weird policies,tax cuts , excessive politicking, cronyism,family rule and funneling of nation' s resources for war efforts against such weak ill organised enemies.
Those in power felt they won the war against a local imaginary enemy...unfortunately lost the battle at home.
Now ppl are paying such high price with little glimmer of hope in the future ...if any.
Only way to save the country is the total dumping of the family that have been in power for these long, extradition of their stolen wealth from overseas & elect leaders whose priority is to save the beloved nation & its ppl.
whats human capital ?
@@saturationstation1446 Human Capital is the asset of human intelligence, expertise & knowledge in any particular field of their endeavour... Meaning they having been trained & educated by the colonial masters.. the British then recruited & sent the local Ceylonese 2 other colonized contries in South East Asia like Malaya to serve as middle level managers 4 the British.
@KrO The elites in my country, unlike the Sri Lankans, did not thrive to the level of corruption to take the country to its knees... Leaving the populace with no food, medicine & fuel...
Dwelling on the past achieves nothing. every country, continent or Island have their fair share of errors. the "NEW" PM must purge all corrupt officials...mainly Gota's puppets in the forces. a suggestion - Ministers that failed in their duties must pay back the money lost due to their inefficiency... proof that corruption was allowed to flourish. I wonder what the Rajapaksas would have done if it was their personal money that was wasted by politicians they selected 😂
My advise to everyone who can is to leave Srilanka. It will never get better. The government is corrupt and when the government doesn’t care about its people then the people are in trouble.
Greatly composed, comprehensive analysis. But suffice to say everything is possible to overcome this situation sans any Rajapaksass in any institution.
When a cancer causes complications it has to be rooted out completely to have any hope. Same could be applied in to the status qua.
GOD PLEASE SAVE THIS COUNTRY
Even GOD can’t do anything about STUPIDITY ‼️
Malaysian govt: WRITE THAT DOWN WRITE THAT DOWN
So Sad...😥 my prayer to Sri Lankan people stay strong and fight for the day by day life. 🙏🙏🙏🙏
Tamils are one of the most important castes in india. They contribute in sectors of agriculture, trade, defence, science and technology. Instead of recognizing the value of tamils, the sinhalas made them their enemies.
India has gujarati castes that manage the financial system. There are punjabi, marathi rajput and many northern castes that manage the defence forces. The hindi castes contribute in the manufacturing sector. Every caste contributes in their own capacity. I suspect such various castes don't exist in bangladesh, srilanka, nepal, bhutan etc because they are ethno-lingual states and are thus restricted in their growth and capacity.
Caste is important in India but it has very little significance in the rest of South Asia. You are right about the part about the Tamils though. Lee Kuan Yew of Singapore recognised how gifted the Tamils were and through his government were able to nurture them. It's not surprise that Singaporean Tamils are well represented in diplomacy, law, education and politics in Singaporean society. Lee also made a similar point that you made about how the Tamils of Sri Lanka and how they should have been recognised for their abilities because they are more capable but the Sinhalese-dominated government was more interested in "righting" the wrongs of the colonial past than recognising the potential Sri Lanka had in the 1950s and 1960s.
@@user-jt3dw6vv4x Caste exists in every corner of the world.
@@12villages You must be conflating "caste" with "ethnic group" which are two different things. Caste in South Asian contexts refers to things like "farmer caste" and "priestly caste", regarding types of livelihoods.
See the fate.Sinhalese politicians are not ready to give freedom to Tamils but now even they cannot live in their own land and running to other countries.
Love Sri Lanka, what shame , the people of Sri Lanka are the best in the world, been 3 times, lets hope the world helps them out.
🙏🏽 for 🇱🇰 from 🇰🇭
Sri Lanka can try to lease the whole Hanbantota city to China and give it a special zone status including to use RMB or USD with independent legal system etc. China will turn it into another Singapore in a few decades. Sri Lanka would benefit a lot from this such as tax revenue, employment and consumption, spillover effect from the city etc. Otherwise, if Hanbantota has to be under the same regime, no one is capable of doing anything substantial.
Yeah like they benefited by giving their port to China....right? If anything Sri-Lanka needs to stay away from opportunist Communist
They did lease it to China (about 77% of it) in 2017 for $1.2 billion. Now instead of the hambantota port bleeding them money yearly since they began operation, it is now a regular source of revenue for them without even spending a cent. The port is still theirs, where their navy is stationed, and they are the ones responsible for its security. There is also a provision that China will expand and develop the port. So, from among all their debts, it is only their debt to China that is providing them income to this day. We should find out where all their debts from other sources went.
JOIN WITH INDIA 🇮🇳❤🇱🇰
INDIA ALWAYS WELCOMES AGHANDA BHARATHIYANS 🕉
For the first step of Reviving Akhanda Bharath please Unite SL with Mother India.
Or else the situation will going to be outta hands even worst on that time India cant help due to geo politics.
.you youngsters have to protest with govt to make it possible.
I believe Srilanka and Tamileelam gonna be the 29 & 30 th state of Mother India soon.
🇮🇳🕉🇱🇰
im from mumbai
are you mad? look at what they did to the tamil women in the civil war. still do you think such people should be invited into the indian union?
we already have problem with the peacefuls/arabestani. please think carefully before you make such comments
@@12villages Iam also Tamil There are so many Tamil Still living in SL.We need to take care of them.Or else country will become like Thailand
@@valluvarvaakku786 Already Indian fisherman are **STEALING our resources**... You want to STEAL more?
@@thavamt1776 Ifwe become one country what is there for a word Stealing all Sharing😑
@@valluvarvaakku786 First stop STEALING from us, our fishermen are crying due to your Indian fisherman merciless act
Nepotism is the worst kind of Leadership. It's a "Blood Line" issue now. If anyone who knows God, they knows there is power in The Blood of Jesus. When you don't have God, family is the next most dangerous thing. Loyalty that is blinded by reason and morality will remain in a constant state of chaos and survival mode!
What hurts me most is their HUNGER PAINS. One can go on without hope for a while. NO ONE can go on without food in their body! 😭Looking at them, they are skin and bones😭.
Stand strong Sri Lanka, Praying for you all. Stand your ground and God will Bless your unity! He is Faithful, I promise!
If SG not careful.... It will be like SRi Lanka.
SG... High inflation, high temperature, high prices, high dengue.... All these are signs of SG becoming like Sri Lanka.
Lol