Political Unrest in Sri Lanka- Relevance for UPSC Exam
- GS Paper 2: International Relations- India and its neighbourhood- relations.
Economic Crisis in Sri Lanka
- The widespread public unrest in Sri Lanka has taken on the dimensions of a political revolution of great import.
- Bloated government, excessive security expenditure, the profligate ways of those in power, lack of attention to domestic production and centralization of decision-making have all contributed to the mess.
Political Turmoil in Sri Lanka
- Driven by Anger of All Communities: It is apparent that Sri Lankan Political Crisis is driven by popular anger and a collective will that straddles all ethnicities.
- Turning into Autocratic regime: Sri Lankan Political establishment is turning into an apathetic political leadership that wields great power without much accountability.
- This made people to come together on the streets to demand change and relief.
- Loss of Public and Political Support: As the protests escalate, the administration of the Sri Lankan government seems to have lost public support and the confidence of their political allies.
- The Opposition has rejected the President’s call for a multi-party Cabinet,
- Key allies such as the Sri Lanka Freedom Party have walked out of the ruling coalition, and
- Newly-appointed Finance Minister did not deem it prudent to take charge.
Challenges of Sri Lanka
- Economic Crisis: Sri Lanka is going through a serious economic crisis compounded by political turmoil, resulting in the complex situation for Sri Lanka.
- Lack of Willingness of Opposition to form a government: it is unclear if anyone will be willing to take charge amidst a seemingly insurmountable economic crisis.
- As over 40 legislators have walked out of the ruling alliance, the present regime faces a loss of majority in Parliament.
- The real question is whether the Opposition will be willing to form an alternative dispensation.
- Sri Lanka at the Crossroads: Sri Lanka is at a crossroads.
- Going one way may lead to a debt trap, sovereign default and possible bankruptcy.
- On the other hand, the present unrest provides an extraordinary opportunity to change its political and administrative paradigm.
Way forward for Sri Lanka
- Prudent Recovery Plan: Sri Lanka needs an economic recovery plan to approach international lenders and bring about macro-economic stability.
- Change in Political Establishment: Economic Recovery of Sri Lanka is viable only when the Present Government Regime is replaced by a concerned and accountable regime.
- Funding the Sri Lankan Economy: Economists have suggested that Sri Lanka may need a bridge loan while an external debt restructuring plan is put in place.
- The people will have to realize that voting on emotional issues related to race and religion only helps the ruling class and seldom benefits them. Only such a momentous change on the political and social level will lead to their economic emancipation.