“Last year the Cornwall Alliance reported on our blog that Sri Lanka was headed for serious trouble. Now, sadly, our prediction is coming true. … Analysts mention excessive government debt, lack of foreign exchange, political corruption, the Covid-19 pandemic, and other factors, but one of the most serious was the government’s sudden order, in April of 2021, banning all import of chemical fertilizers and requiring that all farming be organic within 10 years. The result has been drastically reduced crop yields, plummeting exports, rising imports, and skyrocketing inflation.”

Originally published here by the Cornwall Alliance on 12 July 2022.