Sri Lanka Braces for Economic Crisis Amid Middle East Tensions

Colombo, તા.18: Sri Lanka appears to be on the brink of an economic crisis once again. Rising tensions between Israel and Iran in the Middle East and the prospect of a prolonged war have given the Sri Lankan government sleepless nights. The archipelago nation has announced only four days a week in government institutions with immediate effect to protect its limited fuel reserves. Commissioner-General of Essential Services Prabath Chandrakirthi addressed reporters on Monday. "From next Wednesday, all state institutions, schools and universities will operate only four days a week." The main reason behind this decision is the blockage on the Strait of Hormuz. Global exports, and especially oil supplies, have been hit hard as Iran has effectively shut down this key waterway. Sri Lanka is completely dependent on imports for its oil and electricity, so the government has initiated measures to protect its limited fuel reserves.