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Israel says ongoing economic crisis in Sri Lanka “unfortunate”
01 May, 2022
Calling the ongoing economic crisis in Sri Lanka “unfortunate”, Israel’s envoy to India, Sri Lanka and Bhutan Naor Gilon said that the country can use its potential in tourism and agriculture to come back to stability.
“Very unfortunate. I visited Sri Lanka to present my credentials just a couple of months ago. It’s a beautiful country with huge potential. Very sad to see there is an economic and political collapse there,” Gilon told ANI.
Gilon was additionally appointed the Ambassador of Israel to Sri Lanka in early February, apart from his pre-existing designation of being Israel’s envoy to India and Bhutan.
“I hope that the good people of Sri Lanka are able to regain a good situation in the country. The potential is huge, tourism and agriculture have a lot to offer. I hope they can use this potential and come back to stability.”
Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts affecting a large number of the people, resulting in massive protests over the government’s handling of the situation.
The recession is attributed to foreign exchange shortages caused by a fall in tourism during the COVID-19 pandemic, as well as reckless economic policies, like the government’s move last year to ban chemical fertilizers in a bid to make Sri Lanka’s agriculture “100 per cent organic”.
Due to an acute shortage of Foreign exchange, Sri Lanka recently defaulted on the entirety of its foreign debt amounting to about USD 51 billion.
The economic situation has led to huge protests with demands for the resignation of Prime Minister Mahinda Rajapaksa and President Gotabaya Rajapaksa. (ANI)
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