DAILY DELIBERATIONS.1 13 JULY 2022 Leave a Comment / Uncategorized / By admin Re: For those who might’ve ho-hummed the news about Sri Lanka – do you know what caused it? A government attached at the hip to greenie earthfirsters. Allow me to explain – some of this might sound familiar. The president that just resigned came to power in 2019, amid a severe economic slump. He promised to make things better, so what’d he do? Pushed through the largest tax cuts in Sri Lankan history. Immediately, the global market downgraded their status, cutting off their ability to borrow more money. Meanwhile, he banned the import of fertilizer chemicals in an attempt to turn the country into a greenie paradise, hoping that’d gain them sympathy on the world stage. Instead, it reduced crop output, which combined with their foreign debt burden, led to 54% inflation, and caused food prices to go up by over 50%. While all this is going on, throw in the global pandemic, which wiped out their tourism industry, and you have a recipe for disaster. 4
