Sri Lanka’s overnight flip to organic farming has led to an economic disaster

Re:Sri Lanka’s overnight flip to organic farming has led to ... by duxup on Tuesday September 07, 2021 @11:19AM (#28445916)

>As the country saw an economic boom in the post-LTTE years, it increasingly turned to foreign borrowings through the issue of sovereign bonds. But outside of tourism and certain exports, the country hardly managed to ensure it was attracting enough FDIs and foreign funds to meet its rising debt obligations.

So was this economic boom purely internal demand as a result of the borrowing?

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Re:Sri Lanka’s overnight flip to organic farming has led to ... by baybal2 on Tuesday September 07, 2021 @11:37AM (#28446122)

> So was this economic boom purely internal demand as a result of the borrowing?

Yes, correct. The two consequent previous governments borrowed like crazy to pull "economic development" like a rabbit out of a hat.

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Re:Sri Lanka’s overnight flip to organic farming has led to ... by duxup on Tuesday September 07, 2021 @11:44AM (#28446170)

I guess it's common just sad to see.

Not like you can "just do it and be a bigger economy / sell stuff" but you gotta get some sort of economic output that results in exports or ... something there if you're going to borrow, otherwise the result is inevitable.

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Re:Sri Lanka’s overnight flip to organic farming has led to ... by imtringued on Wednesday September 08, 2021 @03:45AM (#28454309)

The problem isn't spending because governments are a macroeconomic and microeconomic entity bundled together. Everyone wants to present it as a moral failure but it is quite simple. When your country consists of one industry and that industry is gone, so is your country.

You can borrow and spend money to diversify. Lots of successful countries have done it.

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