The effective household in the middle of Sri Lanka’s recession

The powerful family in the middle of Sri Lanka's economic crisis

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Sri Lanka remains in the middle of a debilitating recession– and experts state one effective household is to blame.

In July 2022, Sri Lankan people stormed and inhabited the republic’s governmental palace after months of presentations. The protesters had one primary need: for the nation’s then-president Gotabaya Rajapaksa to resign.

The demonstrations came off the back of a debilitating recession, the worst the nation had actually seen considering that it declared self-reliance in1948 As an outcome, the nation’s population had a hard time to get their hands on important products like fuel, food and medication.

While some aspects, like the Covid-19 pandemic and the Sri Lankan Easter battles of 2019, ran out the federal government’s control, political and financial experts informed CNBC that eventually, a few of the significant policy mistakes put in location by the Rajapaksa political dynasty triggered Sri Lanka’s financial death.

So, what do we understand about the Rajapaksa household, and what were the policy choices that caused Sri Lanka’s monetary mess? Watch the video above for the explainer.