Friday, May 27, 2022
HomeBusinessThere was a big fall in the stock exchange of Sri Lanka,...

There was a big fall in the stock exchange of Sri Lanka, which is facing financial crisis, business had to be stopped

Sri Lanka Stock Market Massive Fall: The investors of Sri Lanka’s stock market, which is facing financial crisis, have suffered tremendous losses. As soon as the Sri Lankan Stock Exchange opened on Monday, there was a fall of 13 percent, after which the trend had to be stopped. Sri Lanka’s stock exchange opened today after two weeks. Since January 2022, the prices of shares listed on the Sri Lankan Stock Exchange have fallen by up to 40 per cent, while the local currency has also declined significantly.

Actually Sri Lanka’s economy is going through its worst phase since 1948. Due to the huge financial crisis, there is a shortage of food, and due to the lack of foreign exchange, the fuel crisis has also arisen. People are facing continuous power cuts. Every morning there are long lines around service stations as people stand in queues for petrol and kerosene. There is a shortage of vital medicines in hospitals, the government has appealed to citizens abroad for donations. At the same time, record inflation has added to the difficulties of everyday life.

Officials were in Washington last week to negotiate a bailout with the International Monetary Fund to get the Sri Lankan out of the financial crisis, but emergency funding has not yet been arranged. Sri Lanka is now dependent on India, China and Japan for financial help, so that the country can be saved from the crisis.

MOBILE
- Advertisment -

Auto

Two Wheeler

BUSINESS AND FINANCE

Digit News