20 January, 2022

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Some Political Roots Of Sri Lanka’s Economic Crisis

By Laksiri Fernando

Dr. Laksiri Fernando

Sri Lanka is within a serious economic and political crisis which has been unprecedent in its recent history. While the Covid-19 pandemic worldwide has aggravated the situation, most of the root causes are within the country related to bad management of the economy, exports and imports, the trade balance, balance of payments, foreign and domestic loans, dollar-rupee value, consumer prices, and many other economic variables.

Even if the management of key economic variables is not the sole responsibility of the politicians, the management of public economic policies is their sole responsibility. No excuses can be accepted. The other responsible group is the top bureaucracy, the subaltern group. The distinction between the two also cannot be clearly distinguished today in Sri Lanka due to the politicization of the whole management processes.

Among the politicians, the most responsible for the economy are the President, the Prime Minister, and the Minister of Finance. Alas, they all come from the same Rajapaksa family! Can that be a root cause of the economic crisis today? Of course, it is.

Main Roots and Subaltern Ones

Not only their policies, but also their behavior supports the assumption of this root cause. Immediately after the budget, the President prorogued Parliament arbitrarily and left for Singapore for of course medical checkup. No postmortem was allowed for the dead budget. The national health system was not good enough for this high soul.

More revealingly, the Minister of Finance went back to his double country America, without much explanation. He was even absent for many of the debates of the budget in Parliament. Of course, they may have family businesses here and there. His trip back also might be a trial run to check what can he do in case of a serious crisis or rebellion in the country. With the New Fortress deal, he apparently has enhanced relations with the American Embassy in Colombo to take refuge at any time.

Only the old Prime Minister, some name as the Old King, remained in the land with his retinue to face the music. He is apparently capable of twisting explanations whether it is economic policies, Tsunami funds, disappeared journalists or anything else. People in the country are desperately angry as we can see from TV and newspaper reports and programs (not to mention the social media).

The subaltern group responsible for economic mismanagement is the recruited advisers and appointed top bureaucrats. They are the retinue of the ruling family. They have been the same people throughout years under their appointments. Under the last Yahapalana administration, not much different to the present one in policy wise or corruption wise, some of them went into jail, but again have been appointed to top positions giving presidential pardon. This is shameful. Because their personal integrity, public image, and legal legitimacy are near zero. Below are some highlights.

* A former Permanent Secretary to the Treasury and the Ministry of Finance, for a long time, is now the Secretary to the President. In 2008, he was found guilty by the Supreme Court of Sri Lanka of a violation of procedure in awarding a large contract for the expansion of the Colombo Port.

* A former Permanent Secretary to the former President is now a Senior Advisor to the present President. He was convicted of course under the last administration for distributing ‘Sil Redi’ violating election laws but acquitted under the present administration on the basis that the previous conviction was not beyond reasonable doubt. He is also a person with an image tarnished.

* A former Governor of the Central Bank who contested elections and became the State Minister of Finance is now again has become the Governor of the CB. Even if his integrity is intact on corruption matters, he is a decision maker according to the whims and fancies of the disgraced family. The list is long and above are only some highlights.

Under the Cover of Pandemic

There is an obvious root cause therefore for the present economic crisis related to the close group of people, the leaders, and subalterns, taking decisions for family and power interests. The decisions are dogmatic on most of the matters (i.e., fertilizer, IMF etc.), making the same mistakes again and again, and disregarding the public opinion or expert advice. Most these are happening under the cover of the Covid-19 pandemic.

The most controversial decision today, in the name of clean energy, is the New Fortress Energy deal. Three key Ministers have contradicted the government claims and even have gone before the Courts that a proper decision was not taken in the Cabinet. Behind them are eleven political parties, including the SLFP, affiliated with the governing alliance.

The agreement with the New Fortress (American) company has never been forwarded before the Cabinet, Parliament, or the public until the JVP leader, Anura Kumara Dissanayake, exposed a copy in Parliament. Obviously, there are numerous clauses and conditions detrimental to the country in the agreement as Dissanayake has explained. There are rumors that the Minister of Finance has now left the country to sort out this matter with American business counterparts.

The other controversial and dogmatic decision was to ban chemical fertilizer, weedicides, and insecticides altogether without proper alternatives, in the name of environmental protection or ‘kidneys’ of the people. The decision was like a military order. Only alternative proposed was for the farmers to use organic (composed) fertilizer. This is not a solution for weeds or insects. Organic fertilizer, if not developed beyond the present ‘composed quality’ is not useful in cultivations particularly other than paddy or some vegetables. Not useful in tea cultivation at all. Even the paddy farmers obviously cannot shift to composed fertilizer overnight. Therefore, the farmers’ mass and angry protests were completely justified under the circumstances.

If the decision at least partly was to preserve foreign exchange from Urea imports, it has completely been boomeranged. There has been so much of fertilizer imports under different names since then, and even a fertilizer ship from China had to be turned back under people’s protests because of low quality. If one draws a balance sheet of these transactions, it is undoubtedly a great loss to the country in many ways including foreign exchange, inflation, and cost of living.

Devastating effects

Most unfortunate are the devastating repercussions on the ordinary people irrespective of ethnicity, language, religion, caste, region, or gender of the above decisions and faults. Most adversely affected sections are the mothers of ordinary families who must shoulder the whole brunt because of cost of living, exploding kitchen gas cylinders, electricity blackouts and many other things. Nearly hundred explosions and two deaths are reported so far, both deaths being women. Conscientious men should take these matters into account and should work towards shouldering the burdens equally in families.

Why are these gas explosions? Two main gas companies, Litro gas and Laugfs, are the main culprits. They have altered the gas compositions in cylinders neglecting the safety of the consumers for profit making. Litro is a state-owned company. The heads of the company are government appointees and close to the ministers. Laugfs is a private company but when the state company manipulates, they also follow suit with or without connections. There is a Sinhala saying, ‘when junglefowls rip Canarium, spurfowls enjoy the feast.’

These frauds do not originate completely locally. They are increasingly international. Taking the opportunities of Covid-19 pandemic, major producers, suppliers, and traders have started profit making under the disguised circumstances. When the local authorities are corrupt and dishonest, they easily come to deals with ministers and top officials.

Some Chinese, Indian, Singapore, Middle East, American and Sri Lankan companies are engaged in these deals. This is kind of a Covid Capitalism! For example, the government has not signed the ‘Yugadanavi’ deal with the New Fortress Energy company. The deal has been signed with its local partner, NFE Sri Lanka Power Holding LLC. Who facilitated the registration of this company? All these are dubious operations.

When the present President was elected in November 2019, people even in the opposition had some hopes that he would be corrupt-free or straight forward, although his name had already been tarnished with some corruption allegations. First, he appeared smart and then started crumbling down in his decisions and policies. His great achievement was Covid-19 management although he allowed his operatives to manipulate case figures and other matters even in this respect. He was reputed as a firm military leader and largely to his credit that the LTTE was defeated in 2009. The University of Colombo also gave him an honorary doctorate in that recognition.

But now it has been proved, beyond reasonable doubt, that just because of military achievements one cannot be a good President. The ‘Peter Principle’ has proved in this case. Simply said, as Laurence J. Peter argued ‘skills in one job do not necessarily translate to another.’ The family is something that Peter did not talk about! These are the political roots of the economic crisis.

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Latest comments

  • 12
    3

    :
    https://www.channelnewsasia.com/business/sri-lanka-sovereign-credit-rating-cc-downgrade-fitch-2388726

    Those who attack yet today, JRJ, but they SLFP led coalitions led this nation since 1994.
    .
    If OPEN ECONOMIC POLITICIES destroyed the nation, why not SLFP led govt failed to go for reforms. If giant nation india could set their filters with OPEN economic policies what made our STUPID leaders just let it go ?

    • 1
      3

      Sri Lanka is being flooded by its US citizen Rajapakase first family and finance minister with expensive and dangerous mRNA Pfizer vaccines while 70 percent of the population is vaccinated!

      The Govt, has spent 700 billion on Covid-19 which is milder than seasonal flu in tropical countries that administer BCG vaccines to children. The latest Covid-19 ploy to keep public distracted and destroy the economy and society are vaccine cards to keep up the Covid-19 fear psychosis and above all prevent Protests as the US citizen Rajapaksa brothers sell off Kerawelapitiaya power plant and other strategic assets to US which is desperate to COLONIZE Lanka and has already Weaponized the Shinahla Buddhist LA Diaspora for this, to set up a military base in stratgeic Lanka to monitor the Sea Lines of Communication (SLOC), particularly the Submarine and undersea Data Cables (UDC) in the Indian Ocean.

      • 1
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        Once those sea lines of communication, the Submarine UDCs are cut and Destroyed, the world , particularly the Global South will be free of DIGITAL COLONIALISM and US BIO-TERRORISM, and fake narratives of the Global Media, and other big power COLONIALISM of infomation, data and our knowledge systems.
        Covid-19 bio-warfare and vaccine passports was designed to digitalize society and economy and promote DIGITAL COLONIALISM. This is the face of 21st Century US imperialism with its white Anglo-Saxon partners -Canada, UK, Aussi, and NZ, with EU in tow.
        The Thrid World War which is a Hybrid Cyber war to crash the rise of China and Asian Economies and Societies in on now with the COvid-19 mask, also to re-colonize Africa and South America. This is GEOPOLITICS in the 21st century and make the US and its white partners great again!
        We must work to ENG DIGITAL COLONIALISM, cut those Submarine undersea data cables and the whole deeply UNEQUAL Global financial system, which is a Ponzy scheme, controlled by the most indebted country on the planet whose only export is violence and war, with 800 miiltary bases all over will collapse, and the Rogue State will be exposed with all its Greed and Nakedness!

  • 16
    2

    Laksiri Fernando, When you eat sour grapes, the bitterness stays for a little while. I am sure that you’ll get over it soon.

    • 2
      9

      Laksiri
      Last 2 paragraphs of the article is only your assessment, gudgment and your hypocrisy

  • 31
    3

    No matter how you want to sugar quote it the reason and the only reason for the current collapse are the Rajapkshes. The monumental greed the stupidity and lack of education and understanding of economic issues are solely their fault not just this time round but also the the previous MR government. The Racism of the Sinhalese people who still support this spectacle and refuse to accept their own culpability in voting into office for a second time a murdering scoundrel with dubious claims to citizenship is something all those who voted for this cancer especially the expatriates will surely pay for. The willing enablers like Niverd, Punchi Banda, Dillith will burn in hell for all eternity for what they have done. The roots of Sinhalese racism go way back to the Muslim riots during the British era. Fanned by nasty resentful monks and the likes of the Anagarika are the beginings of this curse.

    • 5
      14

      Thiha why don’t you say that Sinhala Racism goes back even further to the time the Kandyans plotted with the British to overthrow their Nayakkar King? Ridiculous comparisons. As if Tamil Racism is not alive and well and infesting almost every comment in this forum.

      • 11
        1

        Svenson,
        Let me ask you for some clarification:
        Are you justifying Sinhala Racism?
        Are you condemning Tamil Racism?
        .
        I’ll give you my stand, to put you at ease.
        I admit that Tamil racism exists!
        .
        A word of caution, though:
        Tamil racism sprouted as the last resort to counter Sinhala racism.
        .
        I am not justifying Racism.
        I am showing the way to get rid of racism of any kind.

        • 1
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          Nathan,
          “A word of caution, though:
          Tamil racism sprouted as the last resort to counter Sinhala racism.”
          —-
          You are wrong. This is the view of Tamils who were brainwashed by ‘Vaddukkodei Resolution’ that contains a manufactured history of Sinhale.

          Anti-Sinhala Tamil racism started at the time Sinhale/Ceylon was ruled by British. During British rule indigenous Sinhalayo were oppressed by British with the help from V-Tamils who dominated the Public Service. Therefore, there was no Sinhala racism at that time.
          G.G.Ponnambalam started racist politics by delivering a racially charged speech at Nawalapitiya in 1939 ridiculing Mahawansha and denigrating the Sinhala-Buddhist culture, its history and the people igniting the first Tamil-Sinhala conflict.
          —-
          It is high time that Tamils learn to face the truth.

    • 4
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      This comment was removed by a moderator because it didn’t abide by our Comment policy.

      For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2

    • 2
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      Thiha,
      “The roots of Sinhalese racism go way back to the Muslim riots during the British era.”

      It was Muslims who started anti-Sinhala Buddhist riot in 1915 by pelting stones at people participating in a Buddhist procession.
      If you do not know the truth please refrain from writing this kind of misleading statements.

  • 20
    2

    These are the people who knowingly promoted a family (Husband, wives and children) with allegations of murder, frauds and corruption, to rule the country. Can they now revers it. Most of these people live abroad in comfort and some are still writing to media to safeguard the family blaming others for present calamity.

    LF says “He was reputed as a firm military leader and largely to his credit that the LTTE was defeated in 2009”. How come? He is a coward who left the Army long time before the real battle started. As the Defence Secretary, he was only the Supplying Officer who did all sorts of fraudulent things with the support of his relatives. He was not reluctant to kill media men who exposed him. He even ridiculed his brother, MR by getting one of his stooges to write a book titled “Gota’s War”.

    • 3
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      RohanaW,
      “He is a coward who left the Army long time before the real battle started. As the Defence Secretary, he was only the Supplying Officer who did all sorts of fraudulent things with the support of his relatives.”
      —-
      BS from a guy suffering from ‘Defeat-Syndrome’.
      As the Secretary to the Ministry of Defence, Gotabhaya Rajapakshe played a leading role to eliminate Tamil terrorists who massacred Sinhala Buddhists for three decades.

  • 8
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    Laksiri, could you please explain this to Rusiri.

  • 21
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    There is a much simpler explanation for our plight.
    .
    The majority chose to elect a mig deal guy, a tusanami thief and a Mr. 10% guy as leaders what did they expect?
    .
    We deserve the slaps we have gotten in return! We should not cry. Just keep quiet and enjoy the results of our stupidity.

    • 13
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      A brilliant response with a human touch.

    • 1
      16

      HT how can you blame the 6.9m? What happened to the 9.4m who opposed the family? Did they provide a suitable alternative for the people’s votes? People can only vote for the parties presented to them. The 6.9 were actually voting for GR not for SLPP. GR had a good track record up to that time with the defeat of the LTTE and the success of cleaning up the cities. To blame the 6.9m for everything is simplistic. Unfortunately it is a very common view.

      • 16
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        Sevenso

        Let us get some facts correct:

        1. The opposition was not 9.4 million voters. They were much less than the 6.7 million that voted for GR.

        2. How can you say that GR had a good record? He was not directly responsible for winning the war. It was all General Sarath Fonsekas planning and execution. Besides that GR had so many cases against him, eg all the extra judicial murders, Might deal, Radnage Lanka- Avant Guarde deal, not to mention BBS, sale of army HQ etc just to mention a few at the top of head. Knowing this the 6.7million chose to vote him in because of his extremist racist ideology.

        If not the 6.7million buffaloes should have also considered SF favourably. But he is not an extremist, hence the majority don’t see the good in him.

        Anyway as we all know our religion clearly defines that what one does brings about the corresponding results.

        In our case, the results are self evident. Now we have to lock our wounds and learn from telhe results our bad attitude and change our ways.

        Perhaps all is not wasted if we can learn a valuable lesson.

        Racism, Fascism and extremism can only bring equally ugly results.

    • 7
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      HT
      What made that bad choice possible?
      Don’t you think that since 1978 the country has been sleep walking into a corrupt dictatorship?

      • 7
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        SJ

        “Don’t you think that since 1978 the country has been sleep walking into a corrupt dictatorship?”

        No, the country was dragged into the situation first in 1970 when …. My Elders who lived and experienced that period would tell you as to what happened and how that Sirima Mao ruled with iron fist and how the country was ruined.

        Try telling the complete history you will feel lot better.

      • 3
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        We cannot exclude what happened before 1978Since 1956 the country has been sleep walking into a racist fundamentalist.

        • 1
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          Racist fundamentalism had much older roots. Search and you will find.
          *
          By the way, I talked about corrupt dictatorship.

    • 2
      3

      Human Touch,
      “The majority chose to elect a mig deal guy, a tusanami thief and a Mr. 10% guy as leaders what did they expect?”

      The main reasons why the majority elected Rajapakshes were they gave the leadership to eliminate Tamil terrorists who massacred Sinhalayo for three decades and failure in the part of ‘Yahapalana’ dong keys to prevent Muslim terrorist attacks while they had prior warnings about the pending attacks. ‘Yahapalana’ Government ruined the peace and security people enjoyed after defeating Tamil terrorists in 2009.

  • 12
    2

    the root politiical cause of the economic decline is the ethnic politics that has dominated the country from its independence. What has been your own role in it? We had our own Thirty Year war and then an ongoing pogrom against the Muslims. All this while, the Sinhala/Buddhist politicians who practised such politics, have stolen from the public. The country will not see daylight until there is movement away from such politics. Why not write about it and not engage in empty brainless speculation. if the U of Colombo gave a honorary doctorate to a war criminal and the kleptocrat so much for the university. What was your part in it?

    • 4
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      This comment was removed by a moderator because it didn’t abide by our Comment policy.

      For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2

    • 2
      6

      Cicero,
      “…the root politiical cause of the economic decline is the ethnic politics that has dominated the country from its independence.”
      —-
      Sinhala politicians did not use ethnic politics after the country gained independence but the country experienced racist politics of Tamil politicians who had an anti-Sinhala stance even from the time the country was ruled by British. They ruined this country by waging war against Sinhala nation.

  • 13
    0

    I believe the writer should have used much stronger adjectives to describe the atrociously appalling destiny that an egocentric and corrupt set of greedy people masquerading as saviours have foisted on a once resplendent isle where everyone could once upon a time live a simple happy life….compost fertilizer notwithstanding..

      • 6
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        “…we as academics should be moderate in our language as much as possible”
        *
        Is that a plea for pain hypocrisy?

        • 1
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          Sorry
          “plain hypocrisy”

      • 4
        1

        Academic objectivity is a refuge of the academic charlatan when it suits him. How can an academic who has supported corrupt purveyors of ethnic hatred call himself objective? That has been the problem of Sri Lankan academics who saw political affiliations as a fast way to promotions etc. With a proliferation of “professors” the public may come to have the same contempt for academics as it has for politicians.

      • 5
        0

        Yes, Laksiri,

        I agree with you, It is always better if we could be objective as far as possible and the right of others to express views opposed to our own views.

        That is how democracy could function.

        The post modernists may say that there is nothing objective and everything subjective.

        Let us however stick to facts and not to engage in personal tirades

  • 17
    1

    Every person who voted for the Rajapaksa criminals, voted for them on the basis of Rajapaksa extreme racist politics.
    The voters deserve the full wrath of the Rajapaksa effect.
    This is the way nature works, cause and effect… Karma to be specific.

    • 2
      4

      Human Touch,
      “Rajapaksa extreme racist politics.”
      —-
      It was not Rajapakshes who had extreme racist politics but Tamil politicians in Yapanaya who passed ‘Vadukkodei Resolution’ to create a separate State, declared war against the Government and Sinhala nation and urged Tamils to fight to achieve their objective. There was no racism behind the decision to eliminate Tamil terrorists who became a real headache for all the people in the country.

  • 13
    1

    “He was reputed as a firm military leader and largely to his credit that the LTTE was defeated in 2009.
    Dr. Laksiri,
    I thought you will touch on the other side of the battle with LTTE at least what happened to those who were surrendered and handed over to the military at the end of the war or the pardon of a military sergeant who was sentenced to death for murdering 8 people including three children.
    What to say?

    • 2
      2

      “Reputed firm military leader indeed!”
      .
      GR is a guy who ran to America with his tail tucked between the legs and pumped fuel there.
      .
      What kind of hero does that?
      .
      It just goes to show you how selfish and cowardly these bastards are.
      .
      Only thing they know is money.
      .
      For the money they sell their mother also.

      • 2
        4

        Human Touch,
        “GR is a guy who ran to America with his tail tucked between the legs and pumped fuel there.”

        Ranting of a guy who is suffering from ‘Defeat-Syndrome’.

  • 13
    0

    “His great achievement was Covid-19 management although he allowed his operatives to manipulate case figures and other matters even in this respect”
    Did he manage or mismanage COVID-19?
    An island state with only one entry point for people could have averted infection altogether for at least several months.
    Manipulation of case figures has motives .Letting people do that is rotten management?
    Now the problem is: One has to flog the surplus of Pfizer vaccine in stock so people have to be frightened into getting themselves needled but also impress upon them that things are under control. The two demand massaging data in different ways.
    *
    “He was reputed as a firm military leader and largely to his credit that the LTTE was defeated in 2009. The University of Colombo also gave him an honorary doctorate in that recognition.”
    Did he really lead the war to victory? Is not the claim stolen thunder? The honorary degree speaks volumes about the level to which the university has sunk.
    *
    “But now it has been proved, beyond reasonable doubt, that just because of military achievements one cannot be a good President. The ‘Peter Principle’ has proved in this case.”
    Your comments here tempt me to wonder if you have long passed your level of competence, as per PP, in political commentary.

    • 2
      3

      SJ ..

      What would that have achieved? the world has to live with Covid whether we like it or not. Australia NZ and China will have to come to terms with that whether we like it or not,

      I am not judging if Gota is a good president to not. that is History’s role. I am saying What he has done is considerable given the chips against him.

      • 3
        1

        A14455,
        “am saying What he has done is considerable given the chips against him”
        Yes, like the tiny size of his brain compared to his huge ego, his great skill at shooting himself in the foot…. And friends like you, of course. Aren’t you the guy who got from Dematagoda to Kadawata in 8 minutes at an average speed of 180 kmph using Gota’s new bridge just the other day?😆😆😆😆

    • 4
      0

      S.J,
      “Your comments here tempt me to wonder if you have long passed your level of competence, as per PP, in political commentary.”
      You don’t have to wonder. He’s long passed his due date. Soon enough, you may expect a piece from him in praise of Prabhakaran’s ability to keep the Rajapaksas under control.

    • 2
      3

      SJ,
      “An island state with only one entry point for people could have averted infection altogether for at least several months.”

      An island state with one ‘OFFICIAL’ entry point and several ‘UNOFFICIAL’ entry points from Mannarama to Peduru Thuduwa.

      • 3
        1

        Eagle,
        “An island state with one ‘OFFICIAL’ entry point and several ‘UNOFFICIAL’ entry points from Mannarama to Peduru Thuduwa.”
        And ranaviruwos who, for a few hundred bucks, will let anything through, from Kerala ganja to urea. That’s why you don’t live here, eh?

      • 1
        0

        The number entering through these have been few and most of the detected infections were traced to legal routes
        You are living in the past and seem to be ignorant of where illegal entries occur these days. They are south of Mannar and stretch along the west coast. That is where the money is.

      • 1
        0

        You have answered nothing.
        You were making bogus claims which I among others challenged. (Ajith was talking about one aspect and his arguments were different.)
        *
        PP was a boomerang that missed its target to hit you, that is if you know what satire is.

  • 7
    0

    “When someone shows you who they are, believe them the first time.”

    Maya Angelou

    The voters knew jolly well who the Rajapaksa family was, as we had years of unprecedented nepotism, corruption, harassment of the media, killing of journalists, white vans, racist policies, and
    the Chinese being invited into the country to make port and airports that are not functioning today.
    Yet that “convenient” bomb blasts on Easter day, seems to benefit the Rajapaksa’s, not the Muslims.
    Voters were fooled by the scare tactics, and the opposition was weakened by Ranil, who from all his actions, seemed to be working in sync with the Rajapaksa regime. Now we are cursed with unqualified, inexperienced officials, and embarrassingly felons, murderers, and crooks, representing the leadership of this country.

    Nandasena drove us straight into the ditch, and seems like he is incapable of getting us out.

    • 2
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      Ashan,
      “The voters knew jolly well who the Rajapaksa family was..”
      —-
      True! The voters knew Rajapakshes as people who gave leadership to eliminate Tamil terrorists who massacred Sinhala men, women, children, Buddhists monks and even fetus of pregnant Sinhala women for three decades and gave peace of mind and security that was denied by Tamil terrorists.

  • 4
    1

    Take the away the hype & GR’s true colours can be seen. It is said that fools rush in where angels fear to tread & GR did just that. Previous regimes were cautious, fearing international pressure & the war continued but GR had the guts to show (correctly or not) two fingers to the world & gave orders not to take prisoners. Even so, he couldn’t have done it single headedly without the help of some countries, including India. The war ended decades ago but has the country prospered? Didn’t his own brother made a deal with Prabhakaran?

    As for controlling the pandemic, he was totally in the dark with no strategy, apart from imposing a continuous 5 week curfew but even with all that, the country was unprepared for the second wave, which, apparently came with Indian workers who came to the country legitimately & not in the middle of the night on a boat. As for other covid remedies, divine concoctions, pouring holy water into rivers, etc., did he even try to intervene & end this backward & hilarious saga?

    GR cannot claim any achievement, apart from ruining the country. He was, & is, a compete failure & it is coming to light now for most people.

    • 2
      2

      Raj-UK,
      “The war ended decades ago but has the country prospered?”

      The country prospered after defeating Tamil terrorists and restoring peace but ‘Yahapalana’ Government ruined the economy and peace and security enjoyed by people by allowing Muslim terrorists to carry out terrorist attacks.

      • 2
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        Eagle Eye

        As far as I am aware, SL was never in an economic crisis as we are now, even at the height of military spending during the war (Maybe during Mrs B’s time but I have only a vague recollection of that period). What exactly did the Rajapakse regime do to improve the economy? Is there any achievement, apart from winning the war rhetoric, they can be proud of? A ragtag Muslim fanatic bunch carried out a single terrorist attack but didn’t the Rajapakse regime have contacts, even funded them, initially? Didn’t all the madrasas spring up during MR’s watch?

        Your eagle eyes seem to be getting blind as a bat. Get a life & face reality.

      • 3
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        Eagle Blind Eye

        “The country prospered after defeating Tamil terrorists and restoring peace …………………”

        Did it?
        Only your thieving family prospered.

  • 1
    1

    The country’s economic mess is the result of wasting so much foreign loan money in the north after winning the war. None of those earn exports for SL. So how can they repay loans?

    Instead of what the government did in the north, they should have invested in restarting KKS cement factory. There was a massive construction boom after winning the war. KKS cement should have saved billions of dollars and would have uplifted the northern economy without handouts.

    Also fisheries. Instead of free houses, schools, roads, expensive weddings (state funded) government should have invested that in fisheries development. The north had massive potential. Did not do. That too could have earned dollars and automatically uplifted northern economy.

    Mining is another lucrative area in the north. Not done.

    Now pay the price of stupidity.

    War was much better than peace in SL.

  • 0
    4

    Laksiri

    I know you live in Australia. let’s be honest aren’t you seeing the same issues in your country? I see a complete disaster brewing in the Country I live in in the US. Don’t you see that the developed world borrowed 7 trillion dollars at 0% interest while the fitch downgrades made the developing world borrow at shylocian interest rates for poor countries. ?

    There is nothing or next to nothing the country could have done. But don’t you see that the govt is still not stopping the development in spite of all the difficulties? Don’t you see hope in that?

    Inflation is going out of control in the US, and I am sure in all the countries, no matter how much they try to hide it. I think semi-socialist states like Australia and the ones in Europe may be able to ide it for a bit. but my friend the Crash is coming.

      • 1
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        Laksiri

        Thank you for being interactive. I am ambivalent about the whole one-family situation. If they are good at what they do is what matters. Not so long ago one family being the Prez and the Defence sec made a difference in a war we could not end didn’t it?

        I do not think the organic agriculture thing was well planned given the complete lack of brains of our farmers who only seek instant gratification and are willing to poison themselves for that. But it is also the fault for the Department of Agriculture and the other liasons of the farmers who are simply unable or do not want to do their jobs.

        As for corruption, I do not know . this is always the talk but where is the proof ?

        The real issue in the world is that the rich western countries put 7 trillion dollars of printing into their own economies which are bankrupt while rating agencies are forcing poor countries to borrow at 10% upwards rates don’t you think? I am not sure if any of the so called alternatives we have are able to do anything other t.han kating bathala(SJB) or destroy the economy even further (JVP)

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          A14455,
          “rating agencies are forcing poor countries to borrow at 10% upwards rates don’t you think? “
          Nobody is forcing anybody. The IMF charges very little, but imposes strict conditions. That doesn’t allow the regime to fiddle the figures or make commissions. You want evidence??? Why don’t you check out how Namal Rajapaksa owned more than a million in ASCOT shares while still a schoolboy. To guys like you, winning the “war” excuses everything.
          http://www.srilankaguardian.org/2012/01/rajapaksa-sons-among-top-15.html?m=1
          “who (farmers) only seek instant gratification and are willing to poison themselves for that. “
          Where is the evidence? The idiot at the top took the advice of two Sinhala Buddhist idiots, Ratana and Padeniya on the matter, neither of whom are qualified on the matter.
          If you want to whitewash the Rajapaksas, make your lies convincing.

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            A14455,
            If you think our farmers are stupid and selfish, why do you live in the US, which you claim is collapsing, and where agriculture is 98% non-organic, not here in this organic paradise (according to you)?
            At least be consistent.

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              Dum Dum

              I am working in the US. not just living there . and when I retire I may come back to live there.Yes in the US most of agriculture is run by massive companies. and very few do organic. but there is a huge market developing where the Organic is growing among the more well to do people.

              And Organic agriculture is practiced by small but very intelligent pratitioers. Not by a set of donkeys who seek instant gratification. and fools who go around the country talking about how expensive the wambatu is. Sri Lanka has such a wide variety of foods if one is expensive cant these fools switic to another. ?

              To me when I go to a Sri Lankan market everything looks cheap we pay about 5 to 6 times more for the same stuff. and we cannot even find most of the stuff.

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                “I see a complete disaster brewing in the Country I live in in the US.”

                You johnny-come-lately-s might not know ……. America going bust has been talked about since the heydays of the Japanese economic marvel …….. then the tech-revolution happened ………. Buffett says that not many have made money by betting on America’s demist ……… and that’s from a guy who had made billions using his brain ……. not someone like you involved with Rajapakse rackets…….. to make even a buck to put food on the table!

                Many have shame …… but you are excused …… if that’s what you gotta do to keep the pangs of hunger at bay ……….

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                  continued

                  “Not by a set of donkeys who seek instant gratification.”

                  So nice of you to call a spade a spade and call Gota a donkey for going “Organic” overnight/instantly! …….. Such honesty is appreciated!!

                  “Don’t you see that the developed world borrowed 7 trillion dollars at 0% interest while the fitch downgrades made the developing world borrow at shylocian interest rates for poor countries. ?”

                  A typical Lankan Einstein …..who thinks through their emotions and ignorance; not intellect (if they had even a little!) ……… the ratings do not depend on the magnitude of borrowings but the ability of a country/corporation/entity to pay it back! :))

                  “and fools who go around the country”

                  When did you last look in the mirror? :)))))))))

                  Oh boy! guys like you make my day!

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                    For Buddha’s sake Man! ……. can the Rjapakses find any better defenders?

                    Why does Basil has to return to California ….. and scrape the bottom of the barrel?

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                      Old Codger,

                      Out of pity …….. do you want me to write propaganda for the Rajapakses?

                      I just can’t watch this! ………. It’s soooooo embarrassing ………….

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                      Nimal,
                      These trolls have to lie for a living, but they haven’t been properly trained. They haven’t heard of Google.

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                A14455,
                “there is a huge market developing where the Organic is growing among the more well to do people.”
                Does 2% sound like a huge market to you? Why can’t you even lie convincingly? Just the other day, you claimed to be able to get from Dematagoda to Kadawata in 8 minutes. At least be consistent. One day you claim the US is about to implode. Today you want to retire here! Do the Rajapaksas pay you that much?
                We actually survive here. We don’t need advice from losers who can’t.

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                  OC and Nimal, I wonder when Rajapaksas have retained their dual citizenship this guy wants to return back to do organic farming. How nice of him ?? This is not the first person to leave Lanka for greener pastures , but whine through out stay and, marvel the sh*it, they left behind. What this guy cant say in public, in Kadawata (common man knows this guy is insane and women folk are ready with broomsticks to give a warm welcome) is what he is writing from where ever he is right now.

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                    Whether USA is crashing or not, Lanka inflation hits all time high accelerating from 8.3 in October to 11.1 % in November. Food products climb to 17 % up from 11.7 in October , thanks to Sir Fail’s initiation in organic farming. Non food prices went up from 5.4 to 6.2 %. Good news is fresh ship load of hot hot organic fertilizer (feces from the sewers) is coming, yet again from China after paying $ 6.7 million penalty so that A00000 can return home, and continue with his organic farming.

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                A14455,
                Why do you keep harping on supposed higher food prices in the US? Do we get paid as much as in the US?
                Even so, right now, eggs cost more here than in the US, a result of your master’s stupid ban on feed imports.

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            How can I address this simpleton?

            Rating agencies and most of the world bodies including the IMF and the world bodies were set up by the West for their own purposes.

            it is not the Sinhala Buddhist idiots it all the rest of the colonized groups. but there are slaves like you who will never be able to get rid of your slave mentality as it serves you best. live in your well for ever you idiots.

            I do not want to whitewash anyone. I have lived free and clear of any of the Sri Lankan politics for well nigh 40 years, but I compare that was done by the yahapalanaya in 4 years under no duress and what is happening now with all the duress of a global pandemic. I find it admirable despite the misteps.

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              If people who don’t agree with the simplistic bird fluttering in your brain are simpletons ……. what the hell are you? A Californian sophisticate? :))

              Why can’t Donald Trump get a loan from any bank? Yeah! banks set up by the West “for their own purposes!” :))))))))))

              Dunno if you have even a clue about lending/borrowing and rating agencies!

              Buddy, whoever you are ……… I’m rolling on the floor laughing ……..

              Read again what you have written ……. the best comedy in the forum!

              I thought the Rajapakses were incompetent idiots ……. until you walked into the forum.

              If you want to support the Rajapakses, the best is to keep your mouth shut. Every word you utter is a window into you fantastic knowledge and self-proclaimed great-intelligence!

              Where the hell did the Rajapakses find this guy?

              You make donkeys proud. :)))

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                Don’t embarrass Californians!

                Read, if you can read, and understand the reasons for the downgrade ……… without mouthing emotional ignorant simplistic platitudes ……

                The reasons are not ………. because we are East, Asian, Brown, Black, Striped ……… or any other, your oh! so sophisticated brain can cook up ……….. but we simply can’t pay back what we have borrowed.

                Key Rating Drivers

                The downgrade reflects our view of an increased probability of a default event in coming months in light of Sri Lanka’s worsening external liquidity position, underscored by a drop in foreign-exchange reserves set against high external debt payments and limited financing inflows. The severity of financial stress is illustrated by elevated government-bond yields and downward pressure on the currency.

                We have affirmed the Long-Term Local-Currency IDR at ‘CCC’, as authorities have continued access to domestic financing, despite high and still-rising government debt and an elevated debt service burden.

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                  Sri Lanka’s foreign-exchange reserves have declined much faster than we expected at our last review, owing to a combination of a higher import bill and foreign-currency intervention by the Central Bank of Sri Lanka. Foreign exchange reserves have declined by about USD2 billion since August, falling to USD1.6 billion at end-November, equivalent to less than one month of current external payments (CXP). This represents a drop in foreign-currency reserves of about USD 4 billion since end-2020.

                  We believe it will be difficult for the government to meet its external debt obligations in 2022 and 2023 in the absence of new external financing sources. Obligations include two international sovereign bonds of USD500 million due in January 2022 and USD1 billion due in July 2022. The government also faces foreign-currency debt service payments, including principal and interest, of USD6.9 billion in 2022, equivalent to nearly 430% of official gross international reserves as of November 2021. Cumulative foreign-currency debt service, including interest and principal, amounts to about USD26 billion from 2022 through to 2026.

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                    Rating agencies didn’t manage Sri Lanka’s borrowings: Sri Lanka did. The rating agencies only evaluate our capacity to payback.

                    In America – or any other developed country – people are very keen to maintain good credit records/ratings; all lenders have access to them.

                    People/entities with good credit records/ratings have easy access to money at cheaper rates. ……… People/entities with bad records/ratings can borrow (if lenders are willing) with difficulty at higher rates – higher rates to mitigate the risk.

                    Do you want to argue on the facts: not emotional platitudes?

                    I’m sure I won’t hear from you again! :))

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                      Yo, California

                      Know the real facts before you try to dish out emotional sentimental tripe.

                      “here are slaves like you who will never be able to get rid of your slave mentality as it serves you best. live in your well for ever you idiots.”

                      In all of SL’s history, the biggest loan from IMF, 1.6 billion, was taken by Mahinda Rajapakse in 2013.

                      “world bodies including the IMF”

                      Do you even have a clue what the IMF does? The IMF does not lend huge sums but performs a similar function to a guarantor by giving confidence to lenders making sure the country in financial distress will fulfil their obligations. So the country can borrow again at reasonable rates.

                      In the process the IMF has to put conditions on the country ……. so they don’t again borrow large sums over commercial rates to build unproductive crap in sparsely populated Hambanthota, your hero’s hometown …….. so he can loot most of it.

                      How did the Rajapakse paupers become billionaires?

                      Yeah, it was done without a single misstep ……. I am sure you admire that!

                      You are very easily impressed!!


                      Buddy, guys like you make donkeys blush ……… not just Californians! :))

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                      If Moron 14455 knew anything about economics, he wouldn’t be cleaning drains in California.
                      The Rajapaksas wind up his spring, and he regurgitates rubbish, hoping nobody will find out.
                      Like travelling at 180 Kmph in a tuk.

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    ” Most adversely affected sections are the mothers of ordinary families who must shoulder the whole brunt because of cost of living, exploding kitchen gas cylinders, electricity blackouts and many other things. Nearly hundred explosions and two deaths are reported so far, both deaths being women. Conscientious men should take these matters into account and should work towards shouldering the burdens equally in families. “
    I read news in Tamil Media and thought about this line. It is timely piece of counseling for the families. The news says that in Colombo, this year about 20 young women, differed with their husbands set fire for them. As per coroner, they did not intend to die. They thought they could get out of the fire, but the act would teach a lesson to their husbands. In North, the violent deaths much more than Covid-19, other crimes extra. I doubt that even if an economic recovery take place right now, it is unlike fix their lives to normal anytime sooner.

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    Karma of innocent Tamils’ eyes gorged out when they were alive (and mostly sold to Pakistan) and organs from Tamil & JVP (mostly sold to Japan) is slowly eating Sinhalese.

    This is why all bodies were or are burnt.

    Those eyes can still see that.

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