Sri Lanka Crisis Decoded | WION Wideangle
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- Опубліковано 7 кві 2022
- No Food, No Fuel
School cancels exams over paper shortage
Hospitals run out of life-saving drugs
But President Gotabaya Rajapaksa won't resign.
What went wrong?
Decode the Sri Lanka crisis with our experts Ambika Satkunanathan, Shanakiyan Rajaputhiran & Ranil Wickremesinghe
#WIONWideangle #SriLankaEconomicCrisis #Rajapaksa
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One influential family, destroyed most families in Sri Lanka.
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price , We love to see this every day
Fanatics voted for them
It's family business
Yes..and Most of Sinhalese voted for them because they have hate in the hearts against Tamils and Muslims...You reap what you sow...
They make the people stupid so that they can rule the country for 3 decades
Other countries also know that Rajapaksa's family lives a super-luxury life with fraudulent savings and even owns a private jet.
Therefore, few countries may be willing to help Sri Lanka. First of all, it is important for the Rajapaksa family to return the money stolen from Sri Lanka.
I afraid srilanka come out of this situation... It should not become another Venezuela... More love from India
As an expatriate (‘colonial boy’) of the island, I just don’t comprehend why Sri Lankan’s ((I.e north East Indians - from approx: 3000 yrs ago) cannot work with India - it’s brother culture - a great upcoming nation! And accept its destiny of diversity of all of it’s micro communities. I’m ashamed this island nation cannot be like Singapore (a much smaller island state than SL).
@@michaelnathanielsz9551 tats because of the dirty politics bro, I think srilanka has all the potential to grow to a superpower but the politics dragging it away from destination
@@madhurajr4454 “super power” do you think India will like that word from Sri Lanka ?
@@nero8837 what if they like r not bro... Everyone stays quite infront of economy n power
My heart is crying for this people.🙏
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
தெய்வம் நின்று கோல்லும்👏👏👏
*LESSON* : *YOU* CAN'T *RUN* *A* *COUNTRY* *BY* *SKIPPING* *INDUSTRIAL* *GROWTH*
LESSON 2: You can't commit a crime against humanity and escape, alleged War criminals will pay one way or another.
LESSON: DONT SEND MONEY UNTIL THEY LEAVE 😂
100% correct!!! This should be pinned. 😣👍
the narrator's voice is overused and fucking annoying.
The same happened to Venezuela ...and it has led them to dispair
May God protect Sri Lanka
Even god can't protect srilanka now only IMF can
What is IMF
International Monetary Fund
@@whyangrymen5958 Everything in this world are been cause by God Almighty and only HE can amend it for us no can
@@missbloodymary4064 don't mock God
Don't just think of taking loans. Taking new loans to pay off old loans is not the solution. When a country is in debts lenders would be cautious. Sri Lanka needs to reconstruct the economy and the political system. Serving the people should be given top priority not serving their own family's interest.
I've been in Sri Lanka last winter, I understand finance and business and energy. The issue is the system based on centralized government having a say on everything,taxing and dictating policies which are against free markets. By pretending the government to "serve the people" you are falling into that same socialistic trap that leads to poverty. Socialism works for some decades because they live on debt and people only care about salaries and food prices, but nobody questions how sustainable such a system is.
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
😂🤣 Reconstruct Economy with what? Srilanka needs money now. The reason their government refuses to approach IMF is because IMF will demand transparency and systemic changes which will take power away from corrupt politicians.
Nice bit of warning to countries like USA.
@@dominic6055 💯
Incompetent leadership and corruption is the root cause of failures
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
And Buddhist racist government as well
Meritocracy was given up in 1956 onwards by politicians, starting from SWRD’s ape aanduwa. No point in just blaming one government. In the heart of the problem, the culture has been rotten since 1956… God save Sri Lanka. China’s share of loan in only 10-15% of the whole debt. The debt trap is not China’s only. 76% of it from market borrowing, ADB, Japan and WB.
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
Very interesting and insightful
Yh, but China is technically more popular as a meat shield :D
China at least delivers working infrastructure like ports.
Hey Aruchunan, I am a political science student, can you tell me how you found that information? Very insightful. (The financial side of it)
The role of China is being downplayed/diluted in all such events by money oriented media houses. In India , entertainment channels/magazines like NDTV and The Hindu have been trying hard to not mention the China angle (eventually they had too).
SOLD OUT MEDIA
It has various reasons, China being one of them
Why just single out China?? Is it all China's faults?? Hahaha...
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
@@drumpfdon760 it's china+ corrupt politicians combo, a deadly combo more powerful than nuclear bomb called economic collapse
Punjab tops the states with the highest debt-to-GSDP at 49.1% in FY21, 6.6 percentage points more than a year ago. This is the worst debt ratio for the state since 1991; the high debt level is the result of years of fiscal profligacy such as farm loan waivers, free electricity to large sections of consumers, among others.
Public is stupid.
All they want is freebies.
When situation gets out of control,
"PROTEST"
@@MrDrgdf arvind kejriwal is stupid...he is the best example that IITians are not as smart as we think
Only farm loans?? What % of budget going for it, how many beneficiaries? What about salaries overfed pigs( govt employees) who never fulfill their duties and also have undertable super income (corruption). 50% budget for 5-8% of population. Any budget in India nearly 50% goes for employees salaries....is there any countries budget similar to our budgets= 50% for salaries? Farmers don't need any loan waivers....if MSP is honestly implemented, if they can control prices like oil companies.....
@@besties1936 India spends 8% of GDP on salaries of government employees
@@MrDrgdf who encourages the public?? Discipline starts at the home.
There is no Transparency at all of the loans taken by Rajapaksa’s.
They’d guys never discuss these at parliament.
Just doing things secretly and then stealing away.
Sri Lanka Is a nation Whom Is happier by seeing tall buildings and highways and Say we are developed, Rakapasha Made a tall tower called Nelum Kuluna (Lotus Tower) and Nelum Pokuna a statium for festival, and here Sri Lankans thought they are all
RIGHT now, at last this Crisi has made Them open there eyes.
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
I am a Sri Lankan I would say 'and I'm proud to say that' but im not anymore 😩
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
*Excellent reporting👌*
Good documentary! Too much dramatic music is distracting!
what is currently transpiring in Sri Lanka is a humanitarian tragedy and apathy of the highest order. This is inconceivably appalling. The president should tender his resignation and step down immediately if he even has a semblance of regret for his irreparable and abject failures.
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
He is an alleged war criminal along with his big brother, they used Food and Medicine as weapons of war during 2009, the Sri lankan army raped many Tamil women, they also murdered many children, USA has imposed travel ban on few prominent Army war criminals but we need an International investigations on the criminal activity of these criminals.
The President won't step down as he will be arrested immediately . Now he is hiding behind his security like Vladimir Putin.
Like Ukraine peoples this peoples Elected wrong President. The same happened here. God may mercy on this Sri Lanka peoples.
@@benzmartin1 The ukrainian President is popular at the moment while the Sri lanka's president is totally unpopular . That's the difference.
China should be paying damages from the pandemic instead of asking for debt payments.
not from for buddy
hahahaha...You are joking huh?
Time to pay the Tamils and Muslims who lost their kit and kins...This is the right thing to do...Hare Krishna Hare Rama
this is what happen when someone isn't qualify trying to run a country
FJB
India must stop all the social services for free and use that money to boost infrastructure projects in India. Kejriwal type people are very dangerous to our economy in long term.
That's terrible may God bless these people! 🙏
A lot of public own companies in Sri Lanka is on massive loss. Government has no business in doing business. Most of the tax money that can be used to improve infrastructures is being used to bailout these failed public owned companies.
A very good forcus o n the situation and analysis
Sri Lanka still not blaming China for this problem.
They cannot.. Because they knew this is because of genocide curse
@@versionanbu01 Absolutely... They don't even Thank India for the help.. There was no one holding a poster saying thanks India ..
@@imtiyazali917 they will never
And if they blame china who will give loan?
@@vipint3694 absolutely. But They should be cautious about china in future
9:10 ... almost like they Knew that we wouldn't get any fertilizer for a while.
Corruption is root of all evil
Detailed and comprehensive info about Sri Lanka current situation.
Just the fact that government position are shared by family members tells everything about srilanka... Nothing much needs decoding...
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
Sri Lanka owes 5 billion USD in debt and that's a huge problem for them. For USA that's just an insignificant line in their budget.
That's just a six-month turnover of TASMAC in Tamil Nadu..
@@post37 really
Why other states are tea totallers ?
Please don’t mention USA here. This is sad that the people have to suffer as this because of their government
It's not 5 billion friend.It's 51 billion dollars.
Very sad to hear such things happening, those responsible should resign and handover to trusted people
god bless
I just can't believe it Sri Lanka doesn't even have a paper recycling plant but they have modern ports and roads thru debt of course. They are even willing to experiment with no chem fertilizer just because someone says so and they believe it 100%. Their politicians are extremely wealthy but the people are extremely poor. Of course the politicians are doing for the country what they think is right but the difference is they have money/wealth but the country doesn't. Of course the top down approach works for them because they have extreme wealth. I don't know how they got so rich though, but this economy needs a bottom up approach.
Stay strong Sri Lanka.... ..
I can see Rahul Gandhi in Rajapaksa.
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@Susan Karen How can someone know a professional account manager that is trustworthy when legit ones are hard to find this days
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@@raheemalbrighton1573 seeking her contact details
Remove corrupt family from power to 5th generation .
There really is a God. Rajapakse and majority Sinhalese people took part in the Genocide of Lakhs of Tamil minorities. There was no punishment from UNHRC towards Rajapakse , but here right now is their punishent. Today the west too speaks so much for ukraine with just 300 lives lost but were silent when 3 lakh Tamil minorities were murdered. Soak all the pain and try to remember no evil deed goes unpunished.
The west speaks for the west, why always depend on the west to hear your cause, and yet blame them again when they do?
@@phobictoeverything No one with sense cares for the west. By now it is pretty clear that west is selfish and care only for their own interests. They only pretend to care but don't give a damn about anyone if they don't benefit them through dollars.
Lol. What happened to LTTE was god's punishment as well. They had a lot of blood on their hands too but still these evils are pro LTTE. When they were killing innocents u were okay with it but when they were attacked here u are crying. What a hypocrite.
Genocide ? Wasnt it was LTTE which was defeated
@@starrynight43451 LTTE was brought down by many countries together. Genocide of Tamil happened before and even after the war. You can look up online for details, Mulaivakkal massacre was one among them.
sad truly devastating
india supports srilanka in crisis but srilanka choose side with china
Keeping up basic farming, fishing & other economic activities by citizens is equally important as these activities will feed them with basic food necessties. Otherwise that will also add to the misery.
India shouldn't send a dime unless the Rajapaksas are gone. He literally sold off Sri Lanka to China.
Rajapaksas also killed thousands of our Hindu Tamil brothers and sisters. Why help them out?
If they created opportunities and equality for Hindu after independence . Because Tamil Hindu community are hardcor business minded people . They can do a lot for Sri Lanka.
Sri Lanka is heavily dependent on its tourism. Easter Sunday terrorist attack in 2019 led to a decline in tourist arrivals. COVID-19 led lockdown crippled whatever was left of tourism. Sri Lanka earned nearly USD 4 billion from tourism in 2019 - and that has dropped by around 90 percent due to the pandemic. The years 2019, 2020, and 2021 became a curse for the Sri Lankan tourism industry.
Workers’ remittances have covered around 80 percent of the annual trade deficit, on average, over the past two decades. But workers’ remittances, a major source of foreign exchange in Sri Lanka, dropped to a 10-year low in 2021.
Unprecedented and unnecessary tax cuts in 2019 December was announced to provide great relief to the people. They reduced the Value Added Tax rate to 8 percent from 15 percent leading to Sri Lanka’s revenue decline even further. This pushed the budget deficit, which averaged 5 percent of GDP in 2019, to 10 percent in 2021.
In 2021, the Sri Lankan government banned all kinds of agricultural chemicals and fertilizers. Up to 70 percent of the harvest was lost and leading to high prices of food items.
The Russian-Ukraine crisis has disrupted the fuel supply leading to rising fuel prices.
Since 2010, there is a sharp rise in Sri Lanka’s external debt. All these external debts include money borrowed from countries like China, Japan, India, and international financial institutions like the World Bank and Asian Development Bank in the name of infrastructure projects.
Thank you for the summary really helpful. And they could have avoided all of this from happening if only they had managed their funds correctly. And the people in power there are not doing much good of a job either.
India's foreign debt is 600b$. Kejriwal, mamta, jagan reddy, stalin have promised too many free stuff. Many states might end up like Srilanka.
True. There must be limit to freebies because if money if not in a cycle in the economy it will eventually lead to financial crisis. I can understand free food to low income groups and free education to children but free travel, free electricity etc...have a load on the revenue expenditure.
There is a limit to state governments borrowings. Freebies doesn't really mean everyone gets free stuff. Come to Tamil Nadu will show you how developed we're than North.
@@balakumaran1 states with the highest debt-GSDP ratio in FY22 are Punjab (53.3%), Rajasthan (39.8%), West Bengal (38.8%), Kerala (38.3%) and Andhra Pradesh (37.6%). All these states receive revenue deficit grants from the Centre. All are non-bjp ruled.
@@balakumaran1 That is what I'm saying. There must be a limit to state borrowings. I agree that TN is a wonderful state but I still haven't visited it. I wish to travel there someday.
Please don't say anything against gajan eddi. He is in the process of converting Andhra into a Christian nation!! Lies, concealment, deceit, anything and everything is fair in the process of converting heathens to christianity according to Bible.
If you wake the up the stupid Dharmics, they'll become an impediment, so please don't..
Most funny part was ORGANIC FARTILIZERS from China. Wow!!
The root cause of thiz economic crisis still remains SL civil oppression policies.
Sri Lanka’s recent military expenditure on the war against Tamils has been reported to be as follows; The Eelam War III between 1995 and 2002 had a cost of 1.3 million dollars. During Peacetime between 2002 5and 2005, about 1 and half million dollars was spent, and soon after, the Eelam War IV from 2006 to 2009, an additional 1.5 million dollars was spent.
Even after ending the war in 2009, Sri Lanka has continued to expand its army through the elite Special Task Force, Police and is today allocating 11% of its annual expenditure on 6defence. Sri Lanka had allocated 3.3% of its GDP to military expenditure during the war. After the cessation of war, military expenditure 6has not been considerably reduced. Though the proportion has been shown at 2.1%, the real military expenditure is reported to be 1.7 million dollars more than during the war period.
Sri Lanka has turned into the country in the world that is keeping 99 per cent of its military in active service, with the spending of 170 million dollars on pension payments alone for the retired military personnel. The Government of Sri Lanka has raised the salary of the defence personnel by 45%, even after the war and has deployed the bulk of its army in the Homeland of Tamils.
Heartbreaking to see. 🙁
Worst thing they did, Get a damn dime from China
Tsunami war economic crisis covid 19 Easter attack all disasters rajapakshas at helm and agravated
When a ship crashes the captain at the helm is always to blame, Sri Lanka's president must step down!!
Kejriwal will take us down the same path his policies are similar
Gota go home..
Are you sure
Till now i get his leech of a man
Take care bro!
When families start ruling this is what happens
Oh my God !!! This could happen in Cambodia !!!!
To all the Srilankans.. Please do not destroy your country's Infrastructure, Trains, & other properties.
the previous prices don't look good either 😐
Over the last twenty two years!this is what had happened under their praised Rajapakayas government.
Rajapaksa and his family sunk Lanka.
Very good coming to a city near u very soon hehe
Our brotherans living in other countrue please identify all assets of the politicians not only of the Rajapaksas.
Houses in Australia. Ca nada USA UK.
Have to liquidate All assets get the back to Sri Lanka.
If all these assets could be converted to dollars we will be the best place to live
Disgusting this can happen
Thanks to India our country right now standing straight, and India make sure we are getting fuel and other commodities in desperate times.
Need to Good leadership, discipline, loyalty, good governance. Legal responsibility. Very soon
Based on what was presented on this documentary, I think that the Sri Lankan government had generally good intention with their policies, but due to unforeseen circumstance such as COVID and probably poor execution of the policies, it didn’t go well. Despite having the best of intentions, governments are judged by their output. Although a change in leadership will not immediately solve the crisis, certainly it can inject hope to the Sri Lankan people.
Praying for the people of Sri Lanka.🙏🙏🙏
Half of Sri Lanka is being held hostage by the army from production and investment. So how would the gdp grow.
Same happened in india also .
When ??
Yeah there was a time when our economy was freely falling but Manmohan Singh's ji govt bring back our economy in track by bringing major policies
But it's still cheaper than Nepal.... Petrol just 0.89 $ and here in Nepal it's about 1.32$ at present.... Are you reporting accurate data?
Sri Lanka is now "Somalia" with fair skin.
What ? □_■
Fair? Sri Lankans are dark men
Gone
why does lankans never thought of
paying their loans in terms of workers;
send 1 million lankans to work in china.
deduct $100 each from their monthly
salary and exempt them from tax.
you should elaborate how Indian influence make this crisis into worse.
India is eyeing to get advantage from SL due to geo politics.
Great analysis. China’s imperialistic policies coupled with Sri Lanka’s dynastic politics and over reliance on just one major industry (tourism) led the country to this. In a way it seems like Sri Lankans dug this hole for themselves. It’s very sad to see. Don’t think there are any quick fixes even if the PM resigns. It will take years to develop new industries and for the tourism industry to get back to pre-pandemic levels. Also, won’t be easy for them to dig their way out of the Chinese Debt trap.
China isn't even Sri Lanka's biggest owner of debt. Stop playing the blame game.
Reducing the tax increased the surplus cash in hand for people & corporates and they used that money to buy more of the essential goods which caused shortage of essential goods increasing food prices. The poor common man (who buys only for 1D/1W is hit hard). The MNC's which smelled the economic collapse must have downsized their operations (increased unemployment). As the former PM said, the signs of collapse were visible everywhere to see and Govt didn't act wisely and in time.
I don't know how dare a government can reduce taxes when they are under huge debt. And impose organic farming all while the pandemic has stopped the tourism.
@@YuvanBalaji Idiotic, cutting the branch of the tree you are sitting on.
No body can a surplus in already inflated economy.
This is literally a tyre puncture.
@@ahweragiftgodfrey3007 Puncture in Inflated economy means theres no scope for growth until puncture is repaired?
God bless 🙌 🙏 sri Lanka
No mercy, It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
@@tamilianboys6664 That's very true. Innocent Tamil and Singhalese boys died for no reason. I am sure the country will be better off with a foreigner.🙏🙏God bless Ceylon🙏🙏
The Background Music is annoying! …
Ranil, yr government was also one of the reasons that brought the country to this presant state. You guys are incapable of doing developments. So, sit aside and give a change to the young generation. We trust they will do a better job and make good progress.
8:54 you can tell this guy has absolutely no mechanical knowledge whatsoever that is just ridiculous none technical individual it will take at least 10 years to do everything properly with all those people this man has mystical magical dreams that may turn into nightmares for his people
about the fertilizing man?
Also the flag must change to scorpion. The people who know this must inform people.
Long love Punjab's success
It's called Karma, This government was elected by Sinhalese to massacre innocent Tamilians and now they are paying the price
in the face of this current crisis, government is not the solution to this problem. government is the problem!!! Ron Reagan.
Meritocracy was ended by 1977 JR government and uneducated ppl like Wijepala M, John Am, W.Mallimarachchi, etc became MP's.. and then Industrial revolution was ended and SL became dependent on imports and foreign loans.
Current situation if a Burst of poor economic policies prevailed for 4 decades
Install different family could help?
Being number 1 tourist destination of the world doesn't necessarily give a nation, a firm economic backbone. Depending largely on tourism is like depending on the monsoons for agriculture.
Absolutely
Seeing that they don't have much of resources to work with. They import most of their essentials like fuel, wheat etc. And their export rate is not very much comparatively. I don't think there is anything much else they could depend on. Yes, you're right that they shouldn't solely depend on tourism as it is not consistent and specially after the bombings they suffered. Their economy has been collapsing ever since.
@@franticmemer6966 becoming a knowledge economy, is the way forward.
If we in India don't stop giving freebies our situation will also become like this.
Thanks for that, it was exactly what I was looking for. So China only owns 10% of Sri Lanka's debt. I doubt China (or even the IMF & other lenders) had a say in HOW the loans were spent, so it seems this all falls on a Sri Lankan government with very poor judgement. Perhaps the Tamils were right after all.
China has a say in how it should be spent and that is to give all development contracts to Chinese companies and allow to hire Chinese people to work in these companies. So what china gives, goes to China back along with interest. Double profits 🥳
The WEF adgenda is right on track.
gohom
hackers please release all the fraud details about gota and hack their foreign black money and if you are interested to help poor people of srilanka please do help 🙏🏻
I heard a Siri Lankans neighbour chanting the following verse the other day: "GOTHA GOTHA HUTHIE GAY PUTHA; MAHINDA MAHINDA WASIE GAY PUTHA." CAN SOMEONE TRANSLATE THAT FOR ME PLEASE!
Sri Lanka previously known Ceylon had good female leader Mrs Bandra Nakaki country prospered under her tenure.listened to radio stations good music as well
Wrong ida
To many people in a place that can't support it....
why didn't you talk about the Easter Bomb attack planned by Rajapakshas Team?
There should be a referendum in sri lanka for being part of india and after that india should make sri lanka as indian state.(only if sri lankan public agrees)
Jihad is the root of all disturbances
High interest loans from china is the main reason
No. International Sovereign bonds
DO NOT STOP PROTESTING! DO NOT BE UNDERMINDED BY THE CORRUPTED THIEF WHO THINK THE PROTESTS WILL END. STAY HUNGRY AND FIGHT THE GOOD FIGHT!
Gota Rajapakse, please appoint Gnasara there as finance minister and rathne there as governor of Central Bank. And make all Budhish monk majority cabinet so they will advise you how to rule the country with racism minded. How to Suppress Hindu, Muslim and Christian.
WION misses a few very important points. One most important is the corruption charges that Rajapaksha family and company has.
Is that intentional ?