Sri Lanka celebrates National Independence Day amidst economic challenges

By Kelum Bandara

4 February 2022

Sri Lanka celebrates its National Independence Day today (February 4) on a grand scale as usual amidst unprecedented economic challenges confronting the nation.

The Indian Ocean island nation gained Independence from colonial rule on February 4, 1948. Beaten by the pandemic, the country is grappling with the worst ever economic challenges in its post –independence era.

The shortage of foreign exchange has compelled the country to reach out to the regional countries such as India, Pakistan, Bangladesh and China for credit arrangements even to buy food, fuel and pharmaceuticals.

The country is also caught in its most vicious debt trap with over US$6 billion to be served this year. Obviously, it is challenging for the government to find foreign exchange proceeds sufficient enough to settle them. Tourism has started picking up, raising some hope for the government. Yet, it is uncertain whether the momentum can be sustained due to the outbreak of Omicron resulting in a drop in arrivals from Europe. Export earnings and remittance from expatriate workers are the other key sources which the government pins hope in.

The country is also facing an energy crisis with the lack of fuel to generate thermal power. However, Sri Lanka has contained the pandemic with a successful vaccination drive. The country has also secured sufficient booster doses.

President Gotabaya Rajapaksa, in his address to mark the National Independence, said that freedom becomes truly beneficial when everyone fulfils duty. He sounded hopeful that the country would get over this trying time.

“It is not appropriate to speak for rights only while forgetting responsibilities,” he said.

He said, “If we are to win over the challenges before us and accomplish our future goals successfully, then all of us have to make a change. We all have to make some sacrifices towards it. Difficult times do not last forever. People of great resolve are needed to face difficult times. None of the crises we experience today are long-term problems,”

The President said we can find solutions to them with an optimistic approach. “Rather than go back many years into the past searching for reasons for the economic problems that the country faces today, what is more relevant is to find both short and long-term solutions for such. This is what we as a government are focused on”, the President said.

The National Independence Day celebrations were organized to show pride while adhering to health recommendations. The Army, Navy, Air Force, Police, Civil Defence and National Cadet Corps joined the parade. The Independence Day celebrations were colorful with a spectacular cultural display representing all communities of Sri Lanka. The religious leaders, Prime Minister Mahinda Rajapaksa, Former President Maithripala Sirisena, Leader of the Opposition Sajith Premadasa, Chief Justice Jayantha Jayasuriya, Cabinet Ministers, Governor of the Central Bank, State Ministers, Governors, Members of Parliament, Ambassadors, High Commissioners, Secretaries to the President and the Prime Minister, Commanders of the three Armed Forces, the Inspector General of Police, the Director General of the Civil Defence Department, government officials and war heroes were present on the occasion.

Kelum Bandara is the deputy editor and analyst on local and regional affairs with Sri Lanka's Daily Mirror newspaper, a leading Daily in the country.