Successive Sri Lankan governments made blunders in policies and decisions to favour themselves, compromising national assets and taking harmful steps to threaten its independence. Others have engaged in alleged pilferage and many wrong-doings. Besides wrong priorities, greediness, and cushy lives based on (commission-based) borrowed money for unwarranted projects that failed to generate income to pay back loans, it is unsurprising that the country declared bankruptcy.
In addition, governments failed to address ongoing crises, including over-blown governments (unnecessarily, excessive employment as political favours), printing money that increased inflation, high unemployment rates, over-regulation, subsequent dwindling exports, and multiple manufactured financial scandals draining the treasury. Recent governments in Sri Lanka have repeatedly blundered in policies and decision-making, often favoring their personal interests while engaging in alleged corruption and malpractice. Misguided priorities, greed, and lavish lifestyles fueled by commission-based loans (technically considered as bribes) for unnecessary projects that failed to generate returns have inevitably led the country to bankruptcy.
This was fueled by allocating lucrative contracts without official bids and cronies who advised successive presidents to gain what they wanted rather than benefiting the country. Additionally, these administrations neglected ongoing crises—continued to take high-interest loans despit.
