HOW TO GET OUT OF THE CURRENT ECONOMIC CRISIS IN SRI LANKA
Posted on May 16th, 2022

BY EDWARD THEOPHILUS

It is reported that Sri Lanka has a gigantic economic crisis. The major reason is the mismanagement of the economy since 1978, and money printing without control began in the late 1980s and has been continued by later governments.  There are reported cases in that the Rajapaksa family associated with investment projects and made money from them.

Sri Lanka could easily come out of the economic crisis if the following actions be taken. I always mention these policy actions.

  • All public investments in enterprises should be sold out and the proceeds gained from these privatised projects should be used for government expenditure.
  • If private enterprises are sold overseas Sri Lanka can receive sufficient  US dollars to pay out all foreign debts and increase the foreign reserves of the country.
  • No local money should be printed and it should be based on the increase in population
  • The Colombo Port City should be leased out to China for the US $ 300 billion for 75 years with an intention of 100 years and the money received should be put as foreign reserves for Sri Lanka. This action will quickly increase the foreign value of Sri Lanka’s official currency and there will not be a shortage of foreign currency in the country.
  • After 75 years Sri Lanka gets back the Colombo Port City like a rich Island Like Hong Kong.
  • If Sri Lanka wants to develop another Island Project that one could be developed in the Calpitiya area.

 If these basic proposals were implemented, the country could be converted into a rich country than Singapore.

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