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Which country Faces Economic Crisis with Increasing International Debts in 2022?
A)
India
B)
Sri Lanka
C)
Russia
D)
Germany

Correct Answer : Option (B) - Sri Lanka


The Sri Lankan president Gotabaya Rajapaksa has declared a state of emergency. This is the second time that the president has declared an emergency in a month(May 2022).

The strikes and protests are increasing day by day because of the increasing economic crisis in Sri Lanka. Last Friday after the announcement of a state emergency the general strike closed all the shops and businesses across the state.

The protesters attacked the lawmakers inside the parliament building in Colombo for hours and the police were left with no choice but and used water cannons and tear gases over the protesters.
 
The protesters are not happy with the current government and are demanding the resignation of Mr. Rajapaksa and his elder brother Mahendra Rajapaksha to resign as the prime minister. Mahindra Raja prime minister of Sri Lanka has been accused of mismanaging the economy and he is accused of being the main reason Sri Lanka is pushed towards bankruptcy and economic crisis.

According to the finance minister, the usable foreign exchange results are below $50 million and the food prices are ascending every day. The hospitals in Sri Lanka have a shortage of essential medicine and there are lengthy power cuts due to a shortage of fuel.

Published On : May 11, 2022
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