The Fort Worth Press - Sri Lankans stand, sweat and seethe as economy grinds to a halt

USD -
AED 3.672499
AFN 66.350752
ALL 83.315384
AMD 382.723176
ANG 1.790055
AOA 917.000132
ARS 1403.487821
AUD 1.533989
AWG 1.80375
AZN 1.703525
BAM 1.685119
BBD 2.016405
BDT 122.33873
BGN 1.686499
BHD 0.37701
BIF 2954.809805
BMD 1
BND 1.303494
BOB 6.917795
BRL 5.296203
BSD 1.001077
BTN 88.775062
BWP 14.252297
BYN 3.414956
BYR 19600
BZD 2.013475
CAD 1.403235
CDF 2173.99994
CHF 0.795399
CLF 0.023672
CLP 928.66031
CNY 7.09955
CNH 7.10705
COP 3752.8
CRC 501.787791
CUC 1
CUP 26.5
CVE 95.004437
CZK 20.839298
DJF 178.273869
DKK 6.439702
DOP 64.48111
DZD 130.253022
EGP 47.157021
ERN 15
ETB 155.109465
EUR 0.862397
FJD 2.278497
FKP 0.759703
GBP 0.76123
GEL 2.698083
GGP 0.759703
GHS 10.96215
GIP 0.759703
GMD 72.499323
GNF 8689.958213
GTQ 7.673419
GYD 209.420746
HKD 7.773325
HNL 26.336966
HRK 6.495105
HTG 131.152343
HUF 331.475502
IDR 16741.8
ILS 3.223985
IMP 0.759703
INR 88.6357
IQD 1311.529083
IRR 42099.9998
ISK 127.110024
JEP 0.759703
JMD 160.789213
JOD 0.709029
JPY 154.789838
KES 129.40029
KGS 87.450465
KHR 4015.887786
KMF 423.999581
KPW 899.992823
KRW 1460.687009
KWD 0.30678
KYD 0.834288
KZT 524.766722
LAK 21724.408295
LBP 89651.827025
LKR 307.074606
LRD 181.703041
LSL 17.169899
LTL 2.95274
LVL 0.60489
LYD 5.461689
MAD 9.256611
MDL 16.899443
MGA 4475.940206
MKD 53.054801
MMK 2099.201903
MNT 3573.89283
MOP 8.015388
MRU 39.64158
MUR 45.820329
MVR 15.401071
MWK 1735.923836
MXN 18.323665
MYR 4.150501
MZN 63.950126
NAD 17.169899
NGN 1443.310501
NIO 36.8446
NOK 10.122735
NPR 142.037651
NZD 1.764085
OMR 0.384502
PAB 1.001094
PEN 3.376011
PGK 4.232973
PHP 59.035028
PKR 282.991686
PLN 3.64485
PYG 7053.927608
QAR 3.649225
RON 4.383596
RSD 101.028741
RUB 81.083179
RWF 1455.1329
SAR 3.7499
SBD 8.244163
SCR 13.972343
SDG 601.500744
SEK 9.477875
SGD 1.301735
SHP 0.750259
SLE 23.399569
SLL 20969.498139
SOS 571.145479
SRD 38.589498
STD 20697.981008
STN 21.108861
SVC 8.759898
SYP 11056.850738
SZL 17.162723
THB 32.435495
TJS 9.240499
TMT 3.51
TND 2.943746
TOP 2.40776
TRY 42.33035
TTD 6.788554
TWD 31.196505
TZS 2436.382034
UAH 42.071339
UGX 3573.92106
UYU 39.831815
UZS 12052.936767
VES 236.1628
VND 26350.5
VUV 121.850043
WST 2.813716
XAF 565.163486
XAG 0.019722
XAU 0.000246
XCD 2.70255
XCG 1.804279
XDR 0.702882
XOF 565.17079
XPF 102.754538
YER 238.525036
ZAR 17.12125
ZMK 9001.194475
ZMW 22.500711
ZWL 321.999592
  • CMSC

    -0.0100

    23.82

    -0.04%

  • RYCEF

    -0.3600

    14.55

    -2.47%

  • SCS

    0.0800

    15.7

    +0.51%

  • GSK

    -0.5429

    47.18

    -1.15%

  • AZN

    0.4900

    89.1

    +0.55%

  • BTI

    -0.3500

    54.13

    -0.65%

  • BCC

    -0.1400

    69.04

    -0.2%

  • RIO

    -0.4100

    70.63

    -0.58%

  • RBGPF

    0.0000

    75.65

    0%

  • NGG

    -0.7100

    77.38

    -0.92%

  • BCE

    -0.2800

    22.83

    -1.23%

  • CMSD

    0.1472

    23.99

    +0.61%

  • VOD

    -0.0900

    12.32

    -0.73%

  • JRI

    0.0135

    13.65

    +0.1%

  • RELX

    -0.0900

    41.33

    -0.22%

  • BP

    0.5392

    36.53

    +1.48%

Sri Lankans stand, sweat and seethe as economy grinds to a halt
Sri Lankans stand, sweat and seethe as economy grinds to a halt

Sri Lankans stand, sweat and seethe as economy grinds to a halt

As Sri Lankans faint in day-long queues for fuel and swelter through stifling evening blackouts by candlelight, anger is mounting over the worst economic crisis in living memory.

Text size:

A critical lack of foreign currency has left the island nation unable to pay for vital imports, leading to dire shortages in everything from life-saving medicines to cement.

Long lines for fuel that start forming before dawn are forums for public grievances, where neighbours complain bitterly about government mismanagement and fret over how to feed their families as food prices skyrocket.

"I've been standing here for the past five hours," Sagayarani, a housewife, told AFP in Colombo while waiting for her share of kerosene, used to fire the cooking stoves of the capital's poorer households.

She said she had seen three people faint already and was herself supposed to be in hospital for treatment, but with her husband and son at work she had no choice but to wait under the blistering morning sun.

"I haven't eaten anything, I'm feeling very dizzy and it's very hot, but what can we do? It's a lot of hardship," she said, declining to give her surname.

Trucks at the port are unable to cart food and building materials to other urban centres, or bring back tea from plantations dotted around Sri Lanka's verdant inland hills.

Buses that normally transport day labourers across the capital sit idle, some hospitals have suspended routine surgeries, and student exams were postponed this month because schools ran out of paper.

"I've been living in Colombo for 60 years and I've never seen anything like this," Vadivu, a domestic worker, told AFP.

"There's nothing to eat, there's nothing to drink," she added. "The politicians are living in luxury and we are begging on the streets."

- Expecting worse -

Many among Sri Lanka's 22 million people are no strangers to privation: throughout the global oil crisis of the 1970s, authorities issued ration books for essentials such as sugar.

But the government concedes the present economic calamity is the worst since the South Asian nation's independence in 1948, and a popular local quip now is that the rationing system at least offered some certainty that goods would be available.

A series of misfortunes have pummelled the country -- which emerged from decades of civil war only in 2009 -- in recent years.

Farmers were hit by a crippling drought in 2016 and the Easter Sunday Islamist bombings three years later, which killed at least 279 people, led to a wave of cancellations from foreign travellers.

The coronavirus pandemic then decimated a tourism sector already reeling from the attacks and dried up the flow of remittances from Sri Lankans abroad.

Both are critical sources of foreign cash needed to pay for imports and service the nation's ballooning $51 billion foreign debt.

But a far bigger factor was government "mismanagement", said Murtaza Jafferjee, chairman of the Colombo-based Advocata Institute think tank.

He blamed years of chronic budget deficits, ill-advised tax cuts just before the pandemic that sent government revenue into freefall, and subsidies on electricity and other utilities that disproportionately benefited wealthier Sri Lankans.

The government has also frittered away public money on white-elephant projects, including a lotus-shaped skyscraper that dominates the Colombo skyline, with a revolving restaurant that now sits dormant.

Poor policy decisions have compounded the problems. Last year officials declared Sri Lanka would become the world's first completely organic farming nation and overnight banned imported fertiliser, in an apparent effort to slow down foreign currency outflows.

Farmers responded by leaving their fields empty, driving up food prices, and months later the policy was abruptly dropped.

Sri Lanka is now seeking a bailout from the International Monetary Fund, but negotiations could stretch until the end of the year, and people are bracing for even leaner times ahead.

"I am expecting it to get a lot worse," Jafferjee said.

"Unfortunately, they are unable to contain it, because the people who created the crisis are still in charge of economic management."

- 'Pushed to the brink' -

By night, as the orange hue of street lights illuminates Colombo's wealthier neighbourhoods, large pockets of the city are in near darkness.

Rolling power cuts that stretch for hours each day leave restaurants and corner stores trying to operate under dim candlelight. Other business owners give up and draw down their metal shutters for the evening.

Resentment is palpable and frustrations have occasionally boiled over. A motorcyclist was stabbed to death outside a petrol station last week after a dispute sparked by accusations of queue-cutting.

But most indignation is directed upwards to the administration of Gotabaya Rajapaksa, a member of a ruling family once beloved by much of the country's Sinhalese majority for bringing the ethnic civil war against the Tamil Tigers to a brutal end.

Support for the Rajapaksa clan has since gone into a tailspin, with an angry crowd this month attempting to storm the president's office.

Other demonstrations have for now been more subdued, organised through social media and taking the form of silent candlelight vigils during blacked-out nights.

"We've been pushed to the brink," said Mohammed Afker, an engineering student standing alongside thousands of others at a rally staged by a leftist opposition coalition.

The 20-year-old told AFP that day-to-day struggles had left him little time even to contemplate what he knew were poor prospects for finding work after he graduated.

"We're not even able to get essential items... We can't even make tea at home," he said.

"Our futures have become a question mark. We are here protesting because things need to change."

W.Knight--TFWP