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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
The Sri Lanka fuel crisis began on 3 November 2017 when rumours started spreading that a fuel shipment belonging to Lanka IOC (Indian Oil Company) was rejected. Later on the rumour was confirmed as legitimate and the reason given was that the fuel in the rejected shipment was not up to standards. [1]
Pope Francis made an appeal for the Sri Lankan authorities to "listen to the aspirations of the people", and said, "I offer a special thought to the people of Sri Lanka, in particular to the young, who in recent times have made their cry heard in the face of the country's social and economic challenges and problems".
Given the current state of the auto market, Greene recommends that car buyers opt for new vehicles this year. “Considering these trends, 2025 could be the year to lean toward buying new instead ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
Sri Lanka's electricity demand is currently met by thermal power stations (54.59%), major hydroelectric power stations (33.50%), wind farms (2.12%), small hydro facilities (8.01%) and other renewables such as solar (1.78%). [6] Sri Lanka as a whole last faced a major nationwide blackout in March 2016, which lasted for over eight hours. [7]
Gotabaya Rajapaksa, a Sri Lankan politician and former military officer who served as the 8th president of Sri Lanka from 2019 to 2022, initiated a self-imposed exile on 13 July 2022, following widespread protests led by civilians demanding his resignation, triggered by extensive discontent over his handling of the country's economic crisis.
Sri Lanka's central and southern parts are home to montane forests, sub-montane forests and to lowland rainforests. In contrast, sparse forests, mangroves, riverine dry forests and monsoon forests are located in the dry zone. These forest covers in Sri Lanka have been greatly reduced by legal and illegal forest clearing. [3]