Sri Lanka has made the difficult decision to cancel school exams for millions of students due to a severe shortage of printing paper. This move comes as the country faces its most significant financial crisis since gaining independence in 1948. The Department of Education of the Western Province announced the indefinite postponement of term tests, citing a lack of funds to import the necessary paper and ink.
Education authorities revealed that school principals are unable to conduct the exams as printers struggle to secure foreign exchange for importing essential supplies. This predicament is expected to impact approximately two-thirds of the nation’s 4.5 million students, disrupting the continuous assessment process that determines students’ grade promotions at the end of the academic year.
The economic turmoil in Sri Lanka, exacerbated by dwindling foreign exchange reserves, has led to shortages of vital commodities such as food, fuel, and pharmaceuticals. The country’s foreign debt crisis has prompted officials to seek assistance, with plans to approach the International Monetary Fund (IMF) for a bailout to stabilize external reserves and address the mounting debt obligations.
President Gotabaya Rajapaksa’s recent appeal for IMF intervention has been met with consideration, as the IMF evaluates the extent of support needed to alleviate Sri Lanka’s financial distress. With a significant portion of debt payments due this year and foreign reserves falling short, the country faces a challenging road to economic recovery.
The impact of the crisis is evident in everyday life, as long queues form for basic necessities like groceries and fuel across the nation. To manage the situation, the government has implemented measures such as electricity blackouts and rationing of essential items like milk powder, sugar, lentils, and rice.
Earlier attempts to defer debt repayments by seeking assistance from key creditors like China have yet to yield a definitive response, leaving Sri Lanka grappling with the urgent need for financial relief. The unfolding events underscore the urgency of finding sustainable solutions to stabilize the economy and ensure the well-being of the population.
The current situation in Sri Lanka serves as a stark reminder of the interconnectedness of global economies and the impact of financial instability on everyday lives. As the country navigates these challenging times, international cooperation and strategic economic measures will be crucial in charting a path towards recovery and resilience.
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