The Print: How Sri Lanka’s overnight flip to total organic farming has led to an economic disaster
President Gotabaya Rajapaksa was forced to impose an economic emergency on 31 August to contain soaring food inflation, and currency devaluation and forex reserves crisis.
New Delhi: Sri Lanka has been hit by a serious economic emergency even as it struggles to tackle the Covid-19 pandemic.
Dwindling foreign exchange reserves, a sinking currency and soaring food inflation have come together to create a crisis which is unprecedented even by the record of the island nation that was torn by civil war for decades.
The surge in food prices and a real fear of hoarding of essential food items was the last straw that forced President Gotabaya Rajapaksa to impose the economic emergency on 31 August under the public security ordinance.
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WNU Editor: This is a must read on what happens when a government mandates the criteria that must be followed for food production.
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