Sri Lanka experiencing an ongoing foreign exchange crisis

Wednesday, March 16, 2022

Sri Lanka is experiencing an ongoing foreign exchange crisis; hence, the governments of the UK and Canada have warned their travelers about the economic state of affairs. The UK government has warned its travelers that Sri Lanka is going through a crisis with shortages of medicines, food and fuel, with a shortage of hard currency for imports at the moment.

With the 2019 Easter Bombings and then the pandemic, tourism in Sri Lanka has been impacted harshly. Now, the foreign exchange disaster might impact travel further.

The UK, along with Russia and India are the three biggest sources of inbound tourism for Sri Lanka. Tourism accounts for 5 per cent of Sri Lanka’s GDP.

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