Sri Lankan government's creation of haphazard, overnight declarations without providing adequate access to planing resources, organic agricultural inputs or educational materials quickly became a recipe for disaster
Sri Lanka's president said the country was bankrupt in July 2022 as a financial crisis ravaging the country deepened.
There were a number of factors causing the problem: Analysts mention excessive government debt, lack of foreign exchange, political corruption, the Covid-19 pandemic, and other factors However, one of the most serious was the government's sudden order, in April 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. 1