Turmoil Engulfing The World

The world is seeing its toughest times since World War-II with the Russian offensive on Ukraine, Pakistan's political crisis and Sri Lanka's deepening economic woes.

Here's a look at the nature of the crises around the globe:


Nearly seven weeks after Russia invaded Ukraine, there seems to be no end in sight to this war. Negotiations and peace talks have not resulted in any major breakthroughs, and experts don't have their hopes set high. The Russia-Ukraine war has resulted in over 24,000 reported deaths, 4.5 million Ukrainians displaced and hundreds of billions of dollars of property damaged.

2.Sri Lanka

The economic crisis in Sri Lanka has led the island nation to announce defaulting on all its external debt. "The government is taking the emergency measure only as a last resort in order to prevent further deterioration of the republic's financial position," the government's statement said.

The 22 million population has dealt with issues such as soaring inflation, commodity shortages and 12-hour power outages

How did Sri Lanka get here?

Critics believe that years of mismanagement by successive governments has caused both a current account deficit as well as a budget shortfall.

Deep tax cuts promised by the Rajapaksa regime which were enacted just before the Covid-19 pandemic also paralyzed several sectors of the Lankan economy.

With the lucrative Sri Lankan tourism industry getting sapped by the pandemic, international credit agencies proceeded to downgrade the country's credit ratings, essentially eliminating the possibility of getting western credit.


Imran Khan becomes the first Prime Minister to lose a no-trust vote. Worryingly, not a single Pakistani Prime Minister has completed a full five year term since the country's independence in 1947.

The urgent issues the new Prime Minister Shehbaz Sharif must deal with are:

(I) Dealing with soaring debt, the weak Pakistani rupee and crippling inflation.

(II) The ousted PM Imran Khan has urged his supporters to take to the streets in protest as he believes he was ousted due to a regime-change conspiracy involving the USA.

(III) The new administration will have to work to patch-up ties with Washington.

(IV) The threat of military rule looms large for Pakistan and the current administration must allay these.

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