Has Sri Lanka gone bankrupt?

A new breed that is ready to face all challenges!

The country faced three decades long cruel civil-war was followed by a negative peace decade. At present the coronavirus pandemic that is killing people; shutdown caused by it is today throttling the economy. The resulting debt burden incurred by the state is fast driving the country to virtual bankruptcy.

Bitter reality is that all past rulers have in their ignorance or willingly contributed to the present mess, changing tax laws too frequently to boost their chances to win elections. That in turn has contributed to the inability of the state to fill the national coffers, while the said new breed in society filled its their own coffers.

In this scenario, the rulers are hoping that people will cooperate with the state authorities to get country’s economy back on track to prosperity. To that effect, the newly appointed finance minister has taken the initiative to implement the long delayed budget proposals put forward by the government!