The Northern Province of Sri Lanka and its infrastructure were severely affected by the domestic conflict which lasted more than 30 years. Effects of this conflict can be still seen today, economically as well: The contribution of the province to Sri Lanka’s Gross Domestic Product is still the lowest among all nine provinces.
Bangladesh steps up in Sri Lanka’s hour of need
In a first for Bangladesh, the country has extended a lifeline of sorts to the beleaguered Sri Lankan economy, offering to top up the island nation s depleting foreign reserves by as much as $500 million.
The global coronavirus pandemic has deprived Sri Lanka, which has $3.7 billion of foreign debt maturing this year, of important sources of foreign currency such as tourism and exports.
Its $4.5 billion tourism industry, which was already reeling from the 2019 Easter Sunday bombings that killed 279 people, was hit particularly hard, while its exports were down about 17 percent in 2020.
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