See Sri Lanka’s national crisis for what it is (Political turmoil in SL)

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See Sri Lanka’s national crisis for what it is (Political turmoil in SL)

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Read more on - Polity | Economy | Schemes | S&T | Environment

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• A standoff: The complete breakdown of political stability in Sri Lanka after Mahinda Rajapaksa's appointment as PM has surprised everyone.
• Resisting the executive Presidency: It is only because of a democratic change in 2015, that institutions of the State are resisting the Presidency's random use of power. (Sirisena had brought that democratic transition)
• SL's democratic turn: In 2015, when authoritarian regimes were rising everywhere, SL was going democratic - too good to be true? Rajapaksa, the authoriatarian executive President, was dislodged by a broad political coalition. India was relieved as Rajapaksa was China's friend.
• A claim: Sirisena and Rajapaksa claim that ex-PM Wickremesinghe (of United National Party UNP) sold SL assets to China and India, and did an FTA with Singapore have undermined sovereignty.
• What a fall: Sirisena rebuilt international relations by his victory in 2015, when the 10-year Rajapaksa rule had severed those, and is now stoking nationalist fires to protect SL from international agendas! The UNP claims it brought in foreign investors. It has warned of a Western aid strike.
• Tamil politics: Jaffna Tamils nationalists and Tamil diaspora now see a chance to mobilise global opinion once again against SL, and dream of getting international intervention.

• Some facts:

1. US tried to bring resolution in UN to rein in Rajapaksa on war crimes (against LTTE), but he benefitted upon being seen as a "defender of war heroes".
2. Only 10% of SL foreign loans are from China. 40% of external debt is from global markets, sovereign bonds etc. Rolling over loans is needed in 2019.
3. No international isolation happened after the Rajapaksa-led war. He got WB and IMF loans.
4. Exports-led development isn't happening in SL, as global trade has gone down and protectionism risen worldwide.
5. US Federal Reserve’s rising rates has led to fleeing capital, and no counter-measures were put in place.

• An economic crisis: The present-day political problems have arisen due to economic problems.

1. Restricting imports due to rising BoP problem 
2. Neglect of rural economy after a long drought has harmed
3. Fertiliser subsidy to farmers was restricted, harming politicians.    
4. Rising fuel prices delegitimised the government.

• Rajapaksa rose due to people's anger: The 2007 global financial crisis delegitimised neoliberal economic policies and gave authoritarianism a push. People's anger with neoliberal crises helped Rajapaksa's rise, not some global machinations.
• What neo-liberal policies? Trade liberalisation, private medical education, sale of sovereign bonds, port city project in Colombo - all were brought by Rajapaksa, who now claims to protect SL from neoliberalism!        CONCEPT
• Wickremsinghe: He promoted free markets and finance capital a lot. Rajapaksa does the same, but with a populist touch.
• How to stop the slide into authoritarian populism? Bring credible, democratic economic policies.
• Question both sides on policy: Instead of focusing on personalities and global machinations, ask real questions. Question the UNP on economic blunders. Question Sirisena-Rajapaksa on pluralism and democracy. Otherwise, the State institutions too will collapse soon.
• Summary - To truly understand the Sri Lankan political crisis, the failure of neoliberal economic policies has to be seen first.

Read more on - Polity | Economy | Schemes | S&T | Environment

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