Abhishek Ambad blogs

  That would be like saying Vijay Mallya's Bankruptcy is square to be blamed on the State Bank of India. Sri Lanka's Bankruptcy happened due to a Chain of very Unfortunate events Event A:- Organic Agriculture  resulted in Disastrous Crops for 2 years and a Massive Rise in Food Imports which in turn resulted in Huge Depletion of Foreign Reserves Event B:- Bomb Blasts plus Coronavirus - Covid 19 -  Pandemic that destroyed all the Tourist Businesses and prevented any significant revenues of Foreign Reserves A+B happened together meaning SL kept buying Food and importing Food with Precious Dollars while unable to replenish their coffers due to the Lack of Tourists their biggest source of revenue Event C:- IMF Loans.  SL borrowed most of their money from IMF and issued Capital Instruments to raise money to purchase and Import Food & Petrol & Notepaper & everything of significance. This required Interest to be paid. Event D:- Ukrainian Conflict.  Huge Supp...