Sri Lanka is undergoing an economic crisis due to a shortage of foreign exchange to pay for imports. The economic impact of the pandemic was quickly followed by maturity of several large loan repayments which have mopped up most of the country’s less than spectacular dollar reserves. The increase in oil prices has not helped and refinancing is in process with the assistance of the IMF (International Monetary Fund).
There are power cuts and shortage of fuel, cooking gas and essentials in the country. There have been a few demonstrations in different parts of the island nation by the public due to these issues. Recently there was a protest in front of the private residence of the president of Sri Lanka, which resulted in enforcing a police curfew for a limited number of hours in certain parts of the capital.
Given the importance of tourism for the economy of the country, it is given preference. Even at the moment, we have guests traveling in Sri Lanka. The tours are going on smoothly at present and hope for continuity, the same way forward. Yes, the shortage of fuel is a very big concerning factor. However, so far with all our efforts and networking, we have been able to meet the requirements. Even the hotels do experience long hours of power cuts and they try to manage the gaps with generators to the best of their capabilities, even in the middle of the diesel crisis.
Last Sunday, President Gotabaya Rajapaksa had invited all parties to accept ministerial positions, and work with him to find solutions to Sri Lanka’s economic crisis. His outreach came a day after en-masse resignations in Sri Lanka’s cabinet.