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Questions and Answers
Who did President Gotabaya Rajapaksa blame for the rising prices of essential products?
Who did President Gotabaya Rajapaksa blame for the rising prices of essential products?
- Hoarders (correct)
- The opposition party
- Foreign investors
- Local retailers
What triggered the Sri Lankan Government to declare an economic emergency in August 2021?
What triggered the Sri Lankan Government to declare an economic emergency in August 2021?
- Decline in tourism industry due to Easter Sunday terror attacks
- Foreign interference in Sri Lanka's economic policies
- Rising food prices and shortages of essential products (correct)
- Government's inability to manage public finances
What action did the Sri Lankan government take to manage the problem of rising prices and shortages?
What action did the Sri Lankan government take to manage the problem of rising prices and shortages?
- Implemented price controls on essential products
- Sought international aid and loans
- Called in the army to ration necessary items and take action against hoarders (correct)
- Increased taxes on imported goods
Who was appointed as the commissioner of essential services with the power to regulate food items and their prices?
Who was appointed as the commissioner of essential services with the power to regulate food items and their prices?
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What caused a significant amount of loss to the tourism industry in Sri Lanka in the months following April 2019?
What caused a significant amount of loss to the tourism industry in Sri Lanka in the months following April 2019?
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Study Notes
Sri Lankan Economic Crisis
- President Gotabaya Rajapaksa blamed hoarders and traders for the rising prices of essential products.
- The Sri Lankan Government declared an economic emergency in August 2021 due to the shortage of essential items and rising prices.
- To manage the problem of rising prices and shortages, the Sri Lankan government appointed a commissioner of essential services with the power to regulate food items and their prices.
- The commissioner was tasked with managing the supply and distribution of essential goods and services to mitigate the crisis.
- The Easter Sunday bombings in April 2019 caused a significant loss to the tourism industry in Sri Lanka, resulting in a decline in revenue and economic instability.
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