Sri Lankan Crisis
The people of Sri Lanka have been in a desperate situation for the past few months. The cost of bread has increased to 130/- from 30/- in Sri Lankan rupees, 1kg flour costs Rs 35/- more, price of rice has increased from Rs. 200/- to Rs. 240/- per Kg. Cost of Diesel has escalated by Rs. 75 per litre, petrol by Rs. 50/- and the cost of cooking gas doubled pushing people to substitute wood as fuel in the kitchen. Deficit in electricity production due to scarcity of coal reached such enormous proportion that street lights have to be kept switched off to ensure supply of electricity to homes. There is acute inflation on one hand and grave scarcity of daily necessities on the other. Long queues in front of government fair price shops to procure whatever essential commodities are available, is a common sight. No, this is not India. This is the glimpse of neighbouring crisis-ridden, Sri Lanka.
Naturally, the people subjected to such dire conditions, have been seething with anger against the government. A casualty due to police firing has already been reported. President Gotabaya Rajapaksha declared emergency once, mobilizing police and military, in an attempt to restrain the citizens by terror and curbing democratic rights. But many of his ministers and trusted aides alienated themselves from him. Due to the increased resentment and protests there had been a country wide strike. It prompted the government to declare emergency again but to no avail. The people ignoring the emergency, attacked houses of some ministers, setting them on fire. The Prime Minister was at last forced to resign.
The upheaval in Sri Lanka is no doubt due to the economic crisis. But what is the cause of this sudden crisis? Two explanations have been doing the rounds in various discussions and analyses. Firstly, due to the pandemic, the main sources of revenue had already faced a disaster. A big chunk of Sri Lanka?s revenue stems from foreign tourists visiting the country and from the money remittances sent home by Sri Lankan workers working in other countries. Owing to travel restriction and closure of factories during the pandemic, these sources of revenue had come to a naught. Secondly, production within the country had come to a standstill. Among the commodities exported from Sri Lanka, the garment industries manufacturing for famous foreign brands had stopped ? 23% of Sri Lanka GDP comes from exports and 12% from tourism. Since these two sectors suffered a heavy setback, Sri Lanka?s income as well as the government revenue earned from taxes were reduced alarmingly.
Secondly, just before the pandemic, the government had adopted certain measures which increased the distressed condition of the economy many a times. After coming to power in 2019, Gotabaya Rajapaksha, adhering to his promise, declared a slew of tax exemptions for the corporate and the rich, It is said that just because of this 33.5% of tax payers became exempted from taxes within a year. This is another big reason for the drastic reduction in government revenues apart from those arising from the pandemic. A huge deficit in state treasury appeared, that is, there arose a huge disparity between the income and expenditure commitments of the government. Moreover, in order to stem the tide of diminishing dollar reserves, the Gotabaya Government imposed restrictions on the import of chemical fertilizer as well as some other commodities. Consequently lack of necessary inputs led to a substantial decrease in agricultural production. Food crisis aggravated further leading to a more alarming situation of the country.
Undoubtedly the much discussed above factors are the immediate causes for Sri Lanka?s current economic crisis. The economic conditions in various countries throughout the world have deteriorated drastically due to the pandemic. Their Governments eager to support the frantic efforts of the ruling classes to safeguard their profit-making interests adopted a host of measures in their favour. But still the question remains, why did this particular crisis situation precipitate in Sri Lanka?
It has been seen that the main causes for this crisis in Sri Lanka are a deficit in foreign exchange reserves and on the top of it the inability of the country to get foreign loans. No doubt, these problems aggravated during the pandemic, but it is also true that these are problems in existence for a long time. This becomes clear from the information given below ?
The forex reserves (especially dollar), has already been declining drastically. By the end of 2021, the amount of foreign currency with the Central Bank of Sri Lanka was enough to bear merely the import costs of one month. Before this, the death of 253 people in a bomb blast during Christian festival of Easter in 2019, resulted in a reduction of 70% tourist inflow resulting in a tremendous reduction of foreign currency. By the end of 2019, the foreign exchange reserves was 790 crore dollars. It decreased to 160 crore dollars by November 2019, and by February 2022, it stood at 231 crore dollars which was sufficient to bear the import costs for only one month and nine days. And in May, it stood dangerously low at only 5 crore dollars.
Another huge problem is the alarming debt of the country to foreign creditors:
-
YEAR
EXTERNAL DEBT
2005
1130 crore dollars
2010
2170 crore dollars
2015
4390 crore dollars
2020
5630 crore dollars
2022
5100 crore dollars
(Sri Lankan Economic Crisis Explained in 5 charts. Samrat Sharma New Delhi, April 4, 2022, India Today, Sri Lanka Defaults on Entire External Debt of $ 51 bn, TOI, April 13, 2022)
The burden of debt comprises of the principal along with a large amount of outstanding interest. Sri Lanka was supposed to pay off a loan of 100 crore dollars on account of sovereign bond by July 2022 and 700 crore dollars of loan amount with interest this year. (What is happening in Sri Lanka? Why does it not have money? Probhash K. Dutta March 29, 2022, India Today). But the foreign exchange reserves of the government was less than 5 crore (as per May 2022 figures). It is impossible to pay off external debts due with this. (Sri Lanka Economic crisis. Usable forex reserves now drop down at 50 million).
As a result, various imperialist agencies are objecting to let the country borrow, especially, borrow through sovereign international bonds with a government assurance. These international agencies governed by imperialist nations, declare the ability of different countries to repay its debt through ratings. They have declared about demoting the position of Sri Lanka in their report-card of the Sri Lankan economy. Hence neither can the country repay its previous debt, nor is it eligible for new loans. Ultimately, the party in power and the Central Bank of Sri Lanka officially declared in mid-April that Sri Lanka is incapable of paying off its external debt as per schedule.
Devaluation of the Sri Lankan rupee: If viewed from another angle it will be seen that the more the demand for dollars vis-à-vis the rupee for imports has been increasing, the government has been forced by various imperialist financial institutions to depreciate the value of rupee. For example, Sri Lanka depreciated the value of their currency by 15% in March this year. Sri Lanka had also been forced to depreciate the value of its currency way back in 1997 due to crisis, Besides this, the value of Sri Lanka?s currency with respect to dollar is depreciated from time to time continuously. This is called exchange rate adjustment. Although this depreciation is making commodities to be exported cheaper in the international market, thus providing an opportunities for the country to sell its goods easily amidst competition, but the problem is Sri Lanka is a heavily import dependent country. Hence for the same reason, it has to spend much more money for imports than it can earn through exports. Therefore, either imports are getting stalled due to lack of foreign currency or there is a huge price rise of goods due to import of commodities at escalated rates.
There is an underlying cause for all this. This cause is not just a matter of recent crisis, rather, it remains as a long term problem in the history of Sri Lanka since independence. It is Sri Lanka?s dependence on imports from different countries has remained indispensable. These imported commodities chiefly comprises of finished products and services which invariably costs more and among which, essential goods like food items are also present. In comparison, the goods exported from Sri Lanka are mainly primary goods or raw materials which are fewer in quantity as well as cheaper. Hence, the deficit in respect of its trade with the international market i.e. the amount of imports in the field of exports and imports as a whole has remained considerably high for the country for a long period of time. Recent data reveals that Sri Lanka?s imports are 80% more than exports. For this reason, Sri Lanka has to keep ready a substantial amount of forex reserve for decades, to ensure supply of foreign currency needed for imports. It has to remain dependent on other countries for earning foreign currency through exports and imports.
Sri Lanka?s deficit in exchange of commodities and services with the international market or rather, with the rich imperialist countries is connected to another long term problem. It is, the country is dependent on huge foreign loans, from which the crisis of being caught up in debt-trap has arisen today, for being unable to repay its debt on time as per the conditions. If we analyse these two aspects ? deficit in its import-export trade and its heavy dependence on foreign loans, we will see that as a net result Sri Lanka?s adverse economic exchanges with the outer world has been a long term unresolved problem, which in short, is termed as deficit in balance of payments. Hence, not just now, there have been numerous occasions in the past when the country has nearly fallen into a debt trap. These are absolutely not created by the recent pandemic, lock-down or some wrong decisions by the Gotabaya Government. Rather, Sri Lanka?s excessive dependence on imports is the principal cause.
Why is Sri Lanka?s economy so heavily dependent on imports for such a long time, especially, when the solution to overcome the perennial crisis lies in reducing its dependence on imports? One method to reduce its dependence on imports is to increase its exports so that a substantial income of foreign currency helps in creating a big reserve sufficient to import goods that are not produced in the country, on its own economic strength. Another way is to make sure that the supply of various necessary commodities for the country becomes available by manufacturing them within the country itself instead of depending on imports. In short, the country can free itself from the problem of excessive dependence on imports by being self-sufficient in producing different items, both in terms of quality and variety. But Sri Lanka?s own internal production is nowhere near to this even after being independent since 1948.
The most important point lies here. Why has there been no indigenous development in production in Sri Lanka? The development of commodity production, of productive forces in any country occurs by establishing a large scale production system after abolishing the remnants of pre-capitalist production system still prevalent in the agricultural sector. To achieve this fast, extensively and in-depth throughout a society, a radical land reform in agriculture is mandatory. So that the monopoly ownership of land by landlords and non-peasant owners and the thriving businesses of moneylenders, middlemen and traders are evicted and the land is distributed to the real producers ? the peasants, opening up the path for free development of agricultural production. Consequently, the surplus produced from developed farming in agriculture paves the way for industrialization and the accumulation and investment of capital opens up that path. On the other hand, a huge section of people enslaved in disguised unemployment, poverty and bonded labour become engaged as workers in factories in industries. From agricultural labourers in villages to industrial workers in urban areas, the toiling people, with their hard labour get to experience a new source of livelihood and a comparatively better life from their previous helpless life of hunger, starvation and poverty. Since the buying power of a large section of people increases, a home market develops within the country, demand for different commodities rises. In order to keep up with that rising demand production in factories and the agricultural fields gets a boost. Export oriented goods too, see an upward trend. The path to a self-sufficient economy and industrialization is created.
But since independence Sri Lanka?s economy did not develop on this path. Instead of a complete transformation of the old land relationships by a radical land reform, the ruling classes of Sri Lanka and the governments representing their interests, chose the path of a superficial land reform imposed from above during 1960-1970. Instead of heavily depending on imports from imperialist countries a plan to create an import-substitutive production system within the country was undertaken. In accordance with the plan, steps to control imports and to develop agricultural and industrial sectors began. The Land Reform Act, passed in 1972, was aimed at putting a ceiling on the upper limit of land, followed by development and nationalization of tea gardens, rubber plantations in agricultural sector. Cooperatives were set up. Later, to develop the industrial sectors, nationalized industries in cement, textiles, chemical, leather, etc. were established. The foreign oil companies were nationalized. Despite this, why didn?t Sri Lanka?s dependence on imports decrease? Firstly, the prices of primary goods or raw materials exported to international markets saw a decline. Whereas, the prices of foreign made goods and machines and spare parts for the newly formed industries that were imported soared higher, especially to sustain the super profits of the monopolistic multinational imperialist companies. Adding fuel to fire, the prices of imported materials skyrocketed in one blow during the international oil crisis in 1973. Consequently the balance of payments problem aggravated tremendously. In an effort to extricate themself from the crisis, the ruling class sought refuge in the World Bank, IMF, abandoning the path of even the superficial land reforms from above and industrialization of the country that was sought as a means of import-substitution. Thus began the era of liberalization for foreign capital and business.
In 1972, the Land Reforms Act was implemented on all lands excluding big plantations of tea, rubber and coconut. As per this act, the upper ceiling for land cultivating rice was capped at 25 acres and for other produce at 50 acres respectively. But the fact is, this upper limit was too high with respect to the scale of agriculture in Sri Lanka. This high upper limit helped the non-peasant owner and owner of big holding to retain their ownership over land. This remained as an obstacle in the development of production by offsetting the process of transfer of land to the real peasant. Secondly, less than 10% of the land vested in the government due to land reforms was distributed among landless peasants. Apart from this, 83% of the total land of Sri Lanka is either in possession of the Central government or some organization under it. As a result, most of those who use land in Sri Lanka are the not the real owner of the land they till. They only possess tenancy of the land. They cannot transfer outside their family, mortgage it for borrowing, forget about selling it. There is even a lower limit for the division of their land. This means, the peasants do not possess the free-hold right over their land used by them for cultivation.
But the peasants outside the plantation areas, who comprise nearly 70% of the total population in restricted to farming in small holdings. Among them the peasants engaged in paddy cultivation have made Sri Lanka nearly self sufficient in production of rice. There are 10 lakh small peasants among these who on an average till on mere 1.20 acres of land (Peasant Situation and Human Rights in Sri Lanka-- Sarath Fernando). The superficial land reform programme from above failed to bolster the initiative of the large section of toiling peasants and drive agricultural production to a more intense and developed stage .
This implies that the so called land reforms could not abolish the dominance and oppression of the landlords, non-peasant owners, moneylenders and traders and transfer land rights to the peasants. On the contrary, these powerful oppressors opposed the half ?hearted land reforms wherever they could. They lorded over the cultivation committees that were formed. They even interfered in the rights to land tenure and appropriated whatever little benefits and opportunities were allocated for the poor through government projects. The rights of the landless and poor peasants were kept restricted to tilling small plots of land.
Another huge problem in Sri Lanka is the illegal appropriation of land by these powerful sections as well as the nouveau riche bureaucrats and government employees. Added to this, with passage of time, there has been the illegal division and redivision of land within the tenant families resulting in increasingly smaller plots of land. Hence, this half-hearted superficial land reforms miserably failed to develop large scale production and establish industries (Crisis and Self-Sufficiency: The Left and its challenges during the long 60s in Sri Lanka ? Gunawardene and Kadirgamar). Instead, due to adoption of the liberalization policy by the ruling classes of Sri Lanka after 1977, the food grains system based on small peasants, like those in paddy cultivation, began to collapse. Due to the policy of liberalization, projects like Guaranteed Price Scheme for procuring paddy for government stores, subsidies for fertilizers, seeds etc. were stopped. In accordance with these policies supported and directed by imperialists, on the advice of World Bank, the programme to develop agriculture through Green Revolution were undertaken. Prices of fertilizers, seeds, pesticides began to rise exponentially and many peasants facing the uncertainties of market were totally ruined. (Crisis and Self Sufficiency: The left and its challenges during the long 60?s in Sri Lanka ? Gunawardene and Kadirgamar).
Recently, in 2018-19, talks of a treaty called Millennium Compact between The Government of Sri Lanka and an American Corporation had been going around on the behest of the ruling class and American imperialist powers. It came to light that is a huge conspiracy to procure land from peasant, consolidate them and hand them over to big capitalists. This particular American Corporation acquires land in this manner in different backward countries. (Land Privatization: Why Sri Lanka must reject the MCC compact, Aug 17, 2020. By : Janhavi Mittal). In this way, the path of becoming self-sufficient through modern farming, industrialization and creating a market for commodities within the country by increasing the purchasing power of masses in Sri Lanka, which has been standing upon the cultivation of small peasants, has been repeatedly disrupted and defeated by the ruling class in different stages. This outcome is quite expected from a half-hearted land reform which has been imposed superficially from above by the government i.e. the capitalist-landlord ruling classes, instead of uprooting and sweeping away the power and control of zamindars, rural money lenders and middlemen by the strength of the peasant struggle.
Another important area of rural Sri Lanka is the plantation sector. Foreign currency was primarily earned through the export of tea, rubber, coconut from these plantations not only during the British period, but even in the early years of independence. This was at least sufficient to bring in foreign currency for importing necessary commodities during that period. This became difficult in later period as the prices of tea and rubber fell in the international market. During 1960-70?s, during the period of nationalization of industries, the plantations and the industries, for processing of products like tea and rubber, were nationalized. But the government privatized them again in 1990 while implementing liberalization policies. These plantations, which were originally developed for export purposes only, faced economic crisis due to recession and fierce competition becoming victims of long term neglect and mismanagement. With the exception of tea to a certain extent, products like rubber and coconut does not bring in substantial returns in terms of foreign currency. Moreover, the products from these plantations which were originally developed for export purposes by the imperialists, does not play any beneficial role for the country with respect to decreasing imports. In reality, since the ruling class of Sri Lanka did not adopt any path to create a self-sufficient market and develop the production system of the country, hence these export-oriented plantations were also not developed and efforts were not made to put these plantations to use in other ways.
The ruling classes neglected the development of production within the country in this manner over a long time and have instead repeatedly chosen the path of economic development depending upon the imperialists. As a result, Sri Lanka fell into the same type of economic crisis repeatedly, and by 2016, it had to seek assistance from the IMF 16 times as well as concede to the demands of this imperialist organization. Some of the conditions of these imperialist organizations imposed upon Sri Lanka are privatization, imperialist control over financial institutions, curtailment of funds in welfare activities and government budgets, providing an easy access and opportunities for the business of foreign multinational companies, etc. Through this dreams of improving export business, increase in revenue and more and more development with the help of imperialist organizations were floated. Even it has been publicized that Sri Lanka will become another Singapore.
In reality, what was the outcome of industrialization in this path? In the name of industrialization apparel or garment industry manufacturing for the world?s famous brands has been established in that country. Internationally, orders for this industry are decided by imperialist organization. So Sri Lanka has to remain dependant on imperialist countries for these orders. This industry is always amidst a volatile and uncertain situation due to stiff competition from different backward countries like Thailand and Bangladesh and the earnings of foreign currency is also much less. On the contrary, the multinational companies earn huge profits through cheap labour, severe oppression and uncertain employment.
Instead of establishing various manufacturing industries and creating increasing number of jobs, from 1990s the service sector began to occupy a significant position in Sri Lanka?s economy. Prohibition of participation of foreign companies in finance, mass transport, telecom, and other professional areas of service sector were lifted to a large extent to facilitate the participation of foreign ownership. Consequently from this period wholly owned foreign companies in sectors like banking, insurance, tourism, brokerage in share market, construction, water and mass transport were permitted. The government owned insurance company was privatized fully and Sri Lanka Telecom partially. The others were handed over to private companies. Through this, the imperialist finance capital run IT sector, BPO , banking, insurance, share market business, financial and trading institutions, shipping and ports, in service sector acquired importance in Sri Lanka?s economy.
PROPORTIONAL CONTRIBUTIONS OF DIFFERENT PRODUCTION SECTORS IN THE G.D.P. 2020
Sector Name | Contribution in G.D.P in % |
Agriculture | 8.36 |
Manufacturing | 15.6 |
Other industries like Construction, mining Utilities sector like water, Irrigation , electricity, Telecom sector | 7.5 |
Service Sector | 59.67 |
(Share of economic sectors in G.D.P in Sri Lanka 2020 http:/www.statista.com)
That is why, despite the annual growth rate of 6.4% from 2003-2012, the World Bank had warned that this growths rate was not due to production of tradable commodities, but due to growth in construction, transport, real estate, trading services and in public administrative activities that is not sustainable.
This means manufacturing industries, on the basis of which the real, sustainable development of production takes place in any country is extremely insubstantial in Sri Lanka. There are large number of unskilled, very low paid sanitation workers and security personnel in the service sector. Together with this, there are backward industries like unorganized garment industries, textile, construction, infrastructure. There are also the Free Trade Zones, Export Zones where the workers have to toil hard without any rights and protections of labour laws, in uncertain, contractual jobs in garments industry, electronics, food processing etc. Data from the Labour Force Survey of 2012 reveals that at that time about 25 lakh workers, which is almost 54% of all jobs in private and government institutions (excluding rural areas) were engaged in these type of uncertain contractual jobs. This shows neither there have been any noticeable enhancement in purchasing power of the majority of workers and employees nor has the Sri Lanka Government been able to ensure earning of substantial foreign revenue from this. Instead the foreign imperialist multinational companies, have turned Sri Lanka into their hunting ground for their loot and profit by creating some such job opportunities within the country.
On the other hand, a large number of workers and other toiling people migrate to West Asian countries like Arab and Kuwait. According to a data, this number stands at 19 lakhs or one in every five workers or toiling people. A large number of these workers are women who are engaged as temporary, migrant, household workers. This shows that the development of industrialization is Sri Lanka has remained limited only to such an extent that could facilitate it to be a ground for exploitation by international capital. Thus Sri Lanka acts as a link in the world-wide value chain for earning profit through cheap labour for the imperialists. The imperialists have exploited Sri Lanka in this manner or tried to develop Sri Lanka in the interest of their profitable production.
Consequently, from the period shortly after independence, as a result of pursuing development policies with assistance from imperialist powers and repeatedly borrowing loans from various imperialist organizations and international finance capital, problems like import dependence, deficit in balance of trade, crisis of forex reserves began to surface. Crisis emerged repeatedly within a span of few years. Import dependent Sri Lanka was in dire straits during the international oil crisis in 1973 though it had not yet adopted the policy of liberalization. But after adopting that policy in 1977, as an instance, the balance of payment problem and crisis in forex reserves appeared in 1980 and then again in 2001. During the economic recession of 2008 overnight there occurred flight of foreign capital from Sri Lanka. From 2012-2013, revenues generated from exports began to decline and shortages in forex reserves appeared due to adverse balance in import and export trade. Subsequently, the people protested in anger against the corruptions of the previous 2016 government and the economic crisis generated from increased costs for imports. Fearing retaliation, Gotabaya Rajapaksha promised tax exemptions .
Thus, the so called imperialist dependent development prolonged Sri Lanka?s troubles instead of resolving it. Economic conditions of the country deteriorated further. Imports and an economy dependent upon loans from imperialist powers did not allow Sri Lanka to develop industrialization and become economically self ? reliant.
Actually, the capitalist ruling class of Sri Lanka did not and could not opt for any other path because of their own class interests. They are both reluctant and incapable of opening up the development of agriculture through the peasant path by implementing radical land reform abolishing the rich, feudal rural oppressors and also make the country self-reliant through industrialization on the basis all-round transformation within the country?s economy. This because the ruling class of Sri Lanka is tied in so many ways with the imperialists. Their interest can best be served in such a system where by their agreement with the imperialists they are able to sustain the severe exploitation and poverty of the workers and toiling people of the country. The upper class powerful sections of people have been able and are continuing to accumulate immense wealth and power from this economic system. Whatever little wealth that is generated in this economy are all appropriated by them and the majority of the common toiling people keep languishing in extreme poverty. From a data of 2017, it becomes clear that 20% of the richest people of the country own 52.9% of the wealth and the poorest 20% own only 4.5% wealth. Be it the party of Rajapaksha Gotabaya or the recent President and Finance Minister during crisis, Ranil Wickramasinghe, who are responsible for creating this situation since the time when United National Party implemented the liberalization policy of the imperialists in 1977, are all part of this imperialist dependent capitalist exploitative system. All of them have paved the way for the imperialist and domestic capitalists to exploit, plunder and suck profits indiscriminately and have kept the rural poor, landless peasants subdued under the oppressive power of the landlords, moneylenders, middlemen and traders.
This does not imply that the workers, peasants, poor people and the youth suffering terribly from continuous exploitation, deprivation and assaults on their livelihoods due to repeated economic crisis have kept their mouths always shut against exploitation all this time. They had an active workers? organization since 1950-60, especially in government sector organisations. But since the parties in leadership became a part of the government in this system and due to their betrayal of these movements, these movements began to lose their strength on one hand, and on the other, due to their apathy towards the larger agricultural sector and rural poor people, the strength of these movements remained limited to industrial areas, particularly, to the government institutions. The increasingly unemployed rural youth, under the leadership of another organization named JVP (Janatha Vimukti Peramuna), burst into a revolt first in 1971 and again in 1989. The government crushed these revolts ruthlessly. Organized movements in rural areas remained subdued since then. Attempts to revoke the Labour Laws meant for organized workers in 1978 had to be abandoned in the face of stiff opposition from the workers. But direct open attacks on the resistance movements of workers by the government, the ruling class and their subservient trade unions began to occur repeatedly. An extremely undemocratic law was enacted on the pretext of curbing terrorism. During the nurse?s strike of 1986, this act was used to ban their union and confiscate their funds. On the pretext of amending Constitution, more and more power was vested in the hands of the president and the repression of movements of the workers, students and youth continued. A burning example of this is the all-out, direct attack of the party in power on the general strike forty two years ago in 1980 and the retrenchment of 40,000 employers in one blow. The workers, peasants and the toiling people of Sri Lanka could not challenge such severe repression by surging forward in a united manner. Their organized political force?a class organization of the working class could not develop.
Today, the biggest victim of this economic crime- the people, are disgruntled again. They had attacked the ministers of Gotabaya Rajapaksha government, setting fire to their houses and properties. Demands like ?Go Home Gota? reverberated from these protests. But they need to realize the cold hard truth that the mere removal of one Gotabaya, or changing a government will neither secure the rights of the workers and poor toiling people, nor will there be a change in the structure of this system where the rule of capitalism, imperialism and the oppression of the rich in the rural areas continue to dominate. Rather they will still have to shoulder the burden of this crisis and the misery arising out of it. Removing these oppressors from power once and for all, uprooting the imperialist dependent ruling system of the capitalists and landlords and establishing the rule of the workers and toiling people is the one and only path for salvation from this crisis ? not by changing the Gotabaya government or any other government.
In this context, another aspect needs to be mentioned. It is impossible for the vanguard of the working class of a small country like Sri Lanka to be successful in its struggles for liberation from imperialism and becoming self-reliant without uniting with the international socialist movement in this present imperialist era. Presently, the centre of this international socialist movement is absent, not even an alliance of the struggles against imperialism on an international level is present. Therefore, in short, the progress of these struggles is linked with the progress in the struggles for the revival of socialist movements, world wise, or at least to start with, with respect to South Asia and the Indian Subcontinent. It is connected with the process of standing up from the debacle, the defeat of the international movement, by getting reorganized in a new way.
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