Sri Lanka “not immune” to Middle East war, Saliya Pieris warns

President’s Counsel Saliya Pieris has warned that Sri Lanka cannot be under any illusion that it is immune from the ongoing war in the Middle East, stressing that the country’s economy faces both short‑term and long‑term risks from the crisis.

He noted that global oil prices have already risen steeply and natural gas production has been restricted, developments that will inevitably affect Sri Lanka in the coming months. 

In a statement on social media, Pieris highlighted possible consequences, including foreign‑exchange fluctuations, impacts on tourism from Europe and the Middle East, interruptions to tea exports, and challenges to foreign employment and remittances.

He emphasized that it is prudent for the Government of Sri Lanka to recognize these challenges early and plan ahead to prevent devastating consequences to the economy. 

“In this process, perhaps difficult decisions may have to be taken. It is important that the Government takes the people into its confidence, keeping them informed of possible risks and of what it intends to do to mitigate these risks. Such measures will build confidence. During the Covid period in 2020-22, the Prime Minister of Singapore regularly briefed the people on the Government’s plans, inspiring confidence in that Government,” the former BASL Chairman said.  

He cautioned that Sri Lanka’s 2022–23 economic crisis was not only the result of poor economic management but also the failure to take timely and necessary action. (Newswire)

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