Sri Lankan crisis Lesson for third world countries


Sir Lanka has been going through financial and political crises.
After failing to pay foreign bills and an acute shortage of food and fuel, demonstrations and riots erupted on the island.

In the latest incidents of violence, many people were killed. The incidents of violence broke out when the supporters of President Rajapakse came from rural areas and assaulted peaceful demonstrators who camped in front of the Presidential Palace.

Since its announcement of an empty exchequer, the people of the island country have been demanding economic reforms and an end to the current government.

Recently the president’s elder brother stepped down as the PM but it could not appease the protesters.

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Other countries which are facing financial troubles must learn lessons from the ongoing crisis in Siri Lanka.

If the economic situation gets worse, the governments should take rational decisions at the cost of popular decisions.
The ruling classes of third world countries should not consolidate power within families.

In Sri Lanka, the Rajapakse clan has different critical official portfolios within it. The clan members were accused of massive corruption.
To diminish the economic crisis, the International lenders should provide critical funding to the country.

Finally, the state ought to work for better financial conditions for its people.

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