Question

Which of the following was NOT a reason associated with Sri Lankan economic crisis of 2022

• A. Decline of tourist inflow
• B. Decline in FOREX reserves
• C. COVID-19
• D. Shift towards organic agriculture
• E. Decline of fisheries

Answer 1

Answer: (E)

To understand the reasons contributing to the Sri Lankan economic crisis of 2022, it's crucial to analyze the given options to identify which one did not play a significant role. The options are:

• Decline of tourist inflow
• Decline in FOREX reserves
• COVID-19
• Shift towards organic agriculture
• Decline of fisheries

Here is a brief analysis:

• Decline of tourist inflow: The tourism sector is a critical component of Sri Lanka's economy. The pandemic led to a sharp decline in international tourists, affecting foreign exchange earnings significantly.
• Decline in FOREX reserves: Sri Lanka faced severe shortages in foreign exchange reserves, which are crucial for importing essential goods like food and fuel.
• COVID-19: The pandemic disrupted global supply chains and local economic activities, exacerbating financial stress.
• Shift towards organic agriculture: The abrupt policy shift towards organic farming led to a decline in agricultural productivity, affecting food security and export earnings.

The decline of fisheries is the option that does not directly relate to the primary causes of the 2022 economic crisis. While fisheries are important, the mentioned options played a more significant role in prompting the economic challenges addressed. Therefore, the correct answer is the decline of fisheries.