Features
Govt.’s fertiliser policy: Will economy face a double whammy?
by A. Hettiarachchi
hetti-a@sltnet.lk
A Cabinet decision on 27th April granting approval to a proposal made by the President to ban the use and the import of chemical fertilizers and other agrochemicals with a view to making Sri Lanka the first country in the world that exclusively practices organic agriculture has resulted in significant impacts immediately upon its announcement.
Farmers who have cultivated paddy, subsidiary crops, vegetables, spices, tea, etc., in a number of districts were finding it difficult or even impossible to obtain fertilizer required for their crops. Long queues of cultivators were seen at many agrarian services centres in various districts waiting to buy fertilizer, but many of those waiting had to leave empty handed as the stocks available were inadequate to meet the demand. According to cultivators, private traders have raised the prices of fertilizers and other agrochemicals exorbitantly, in some instances even by over 100 %. Although the Government wants people to use organic fertilizer instead of chemical fertilizer, there were no outlets for cultivators to purchase organic fertilizer. Even prior to this Cabinet decision, chemical fertilizer at agrarian services centres were in short supply, and farmers have been complaining that they could not obtain sufficient quantities for their crops. In many areas without the required fertilizer, various crops under cultivation appeared to be starving with visible nutrient deficiencies such as yellowed leaves, retarded growth, and vulnerability to diseases. Cultivators express fear that their crops will fail and will not provide returns even for their subsistence, leave alone settling of the bank loans taken by them for cultivation.
As the ban of the import of chemical fertilizer is in force, it is most unlikely that cultivators will be able to apply sufficient quantities of fertilizers to their cultivations. If the required amounts of fertilizer are not provided to crops at the required time, the crops will only produce poor harvests both in terms of volume and quality. All crops – paddy, vegetables, spices, cut flowers, ornamental plants, tea, rubber, coconut and even inland fish produced by culture-based fisheries in reservoirs and ponds – will produce lesser harvests without adequate fertilizer resulting in the increase of prices of the commodities they produce. This means that rice, coconuts, vegetables, tea etc. will go up in price affecting the consumer. Banks will not be able to recover the loans extended to agriculture and plantation. In 2020 the agriculture sector contributed 6.7 % (Rs. 1,010,752 million) to the GDP, provided livelihoods to 2,170,000 people (25.6 % to the total workforce), and earned an export income of Rs. 433,070 million (USD 2341 million). The sector’s contribution to the national economy depends on the availability of fertilizer for crops, plantations and aquaculture.
Sri Lanka’s agriculture production for the last 60 years or so has been made using high yielding varieties (HYVs) of crop. Earlier it was the traditional varieties that were cultivated. HVYs were introduced with a view to increasing particularly the rice production to feed the increasing population without importing rice. HVYs have shorter crop cycles compared to traditional varieties. They cannot compete with weeds and are vulnerable to attacks by pests and disease. They need application of fast responding chemical fertilizers, weedicides and pesticides. On the other hand, traditional crop varieties, which had emerged after undergoing the process of natural selection, does not need application of fast responding chemical fertilizer for growth. Also, they could compete with weeds, were resistant to pests and diseases, and therefore does not need application of weedicides and pesticides. However, compared to HYVs, traditional varieties take longer periods to grow and produce a much lower yield. As reckoned correctly by the then Government and also by the subsequent governments, production solely from traditional varieties is not sufficient to meet the food requirements of Sri Lanka, a country where population is steadily increasing.
Plants need nutrients, i.e., nitrogen (N), phosphorus (P) and potassium (K) in sufficient quantities for growing, flowering and producing fruits and seeds. They get these from the soils where they grow. Plants through their root systems absorb the nutrients available in soils and fix the absorbed nutrients in their roots, stems, leaves, fruits and seeds, etc. In addition to N, P and K plants require water, carbon dioxide (CO2) and sunlight, and other elements such as sulphur (S), magnesium (Mg), calcium (Ca), iron (Fe) and boron (B), which are required in minute amounts, and therefore called micronutrients. When the nutrients are absorbed by the crops being cultivated, the soil on which they are cultivated becomes totally or partly depleted of such nutrients. Therefore, once a crop is harvested, before planting a new crop in the same field or plot, it is necessary to resupply nutrients by application of fertilizer. In the case of annual or shorter crops such as paddy, vegetables, and subsidiary crops, this has to be done at the beginning or at various stages of the crop cycle depending on the cultivar. In case of permanent crops such as tea, rubber and coconut, the soils have to be fertilized annually or intermittently as required.
Currently cultivators in Sri Lanka use about 300 kg of chemical fertilizer per hectare to fertilize rice, vegetables, and plantations. If chemical fertilizer is to be replaced by organic fertilizer, one has to use at least 100 tons of organic fertilizer per hectare to provide the same amount of nutrients. In 2020 Sri Lanka has imported 952,000 tons of chemical fertilizer. This is equivalent to 120,000,000 tons of organic fertilizer. Has Sri Lanka got the capacity in terms of technology, raw material and infrastructure to locally produce such a large quantity of organic fertilizer? Importing and handling of such large amounts of organic fertilizer for distribution and application will be costlier and more difficult since it requires larger carrier trucks for transport and larger space for storing and more labour for application to cultivations. This means, application of organic fertilizer in place of chemical fertilizer will definitely result in the increase of the production costs, thus affecting both the cultivator and the consumer. Further, unlike chemical fertilizer, organic fertilizer responds slowly. A national TV channel reported a few weeks back that the cultivators who have cultivated radish and carrot in the Nuwaraeliya area in plots fertilized only with organic fertilizer were showing that the harvest of radish and carrot they got were unmarketable; they had well grown leaves, but their edible parts, i.e., tubers and roots were lean.
As announced, the objective of the ban is to prevent production of foods containing heavy metals and pesticide residues that are detrimental to human health, protect the environment – soils and waterbodies – from being polluted with chemical fertilizer and pesticides, and save the foreign exchange spent for fertilizer imports. In 2020 Sri Lanka has spent USD 259 million for the import of chemical fertilizer and pesticides. The major drawback in chemical fertilizers is that in addition to nutrients, they contain harmful impurities, mostly heavy metals such as lead (Pb), mercury (Hg), arsenic (As), cadmium (Cd), chromium (Cr), etc., which are toxic or poisonous even in small concentrations. Those heavy metals may get into the bodies of those who consume the products produced from crops fertilized with chemical fertilizer containing such impurities and affect their health. They also contaminate the soils and water in the environment with repeated application and ultimately accumulate in the body tissues of cattle, fish, fowl, and other animals who get sustenance from such environment. Consumption of those animals as food will also be harmful to human health. Waterbodies like lagoons and lakes when highly contaminated with chemical fertilizer containing N and P will result in eutrophication resulting in heavy algal growth and subsequent oxygen depletion and fish kills.
Impurities like heavy metals could be removed from chemical fertilizer while in the production process. The government can enforce regulations limiting the maximum tolerance levels of each heavy metal in the imported or locally manufactured chemical fertilizer. Imports should be required to be accompanied by certificates issued by the competent authorities of the countries from which fertilizer consignments are imported certifying the content of heavy metals in each consignment in appropriate units. For locally produced chemical fertilizer, a quality control mechanism has to be established. All establishments producing chemical fertilizer should be required to conform to maximum tolerance levels of each heavy metal. However, fertilizer purified of the heavy metals will be expensive.
It may also be possible to significantly reduce the amount of chemical fertilizer used by cultivators by determining the amount of NPK required for each crop, testing the soils in different fields or cultivation slots for the amounts of NPK available in them and advising the cultivators on amounts of chemical fertilizer need to be added to meet the total NPK requirements of each crop. This will prevent overfertilization and thereby the wastage of fertilizer, and excess fertilizer from leaching and contaminating the environment. Government may set up testing laboratories at each agrarian service centre for this purpose. Cultivators need not use the same amount of fertilizer (kg/ha) for each successive cultivation of the same crop. After a crop is harvested some nutrients will still remain in soil, and what is necessary is to test the soil and determine the amount necessary to fill the shortfall of each nutrient required for the next crop. It may be noted that although Sri Lanka uses an average of 300 kg chemical fertilizer per hectare, India and Pakistan use only an average of 165.8 kg and 144.3 kg per hectare respectively.
As mentioned earlier, one of the objectives of banning the import of chemical fertilizer is saving foreign exchange. Organic fertilizer is costlier than chemical fertilizer. In order to save foreign exchange, the Government will have to stop the import of organic fertilizer too. Therefore, it is unlikely that crops will get adequate fertilizer after enforcement of the ban. On the other hand, imported organic fertilizer can also affect the environment since it can carry and introduce alien species of bacteria, fungi, and even higher plants through spores, seeds, etc. If such alien species get established in the country, it will be very difficult to get them eradicated.
The decision to ban the use of chemical fertilizer and other agrochemicals has been at a time when the economy of the country is showing a decline after showing a continuous growth for 20 years. Last year (2020) Sri Lanka’s GDP at 2010 constant prices has recorded a negative growth of 3.6 %. This negative growth was experienced for the first time since 2001. The main reason for this decline of the national economy was the lockdowns and other restrictions imposed by the Government to control the spread of the covid pandemic. All the economic sectors, agriculture, industry and services were affected by the measures imposed by the Government to control covid. This was a blow on the national economy. The covid situation keeps worsening demanding enforcement of more restrictions to contain it. More restrictions enforced will further affect the national economy, and result in unemployment, increased cost of living reduced availability of consumer items, reduced tax income to the Government, etc. However, since control of the covid spread is a priority, the Government has no option, but to impose lockdowns and other restrictions disregarding their adverse impacts on the national economy.
It is unlikely that the economy will recover this year or even next year from the blow it received from the covid pandemic. Banning of the import of chemical fertilizer will give another blow on the economy on top of the blow from the pandemic. Can the economy of the country withstand a double whammy?
by Dr Gotabhya Ranasinghe
Senior Consultant Cardiologist
National Hospital Sri Lanka
When we sought a meeting with Hon Dr. Ramesh Pathirana, Minister of Health, he graciously cleared his busy schedule to accommodate us. Renowned for his attentive listening and deep understanding, Minister Pathirana is dedicated to advancing the health sector. His openness and transparency exemplify the qualities of an exemplary politician and minister.
Dr. Palitha Mahipala, the current Health Secretary, demonstrates both commendable enthusiasm and unwavering support. This combination of attributes makes him a highly compatible colleague for the esteemed Minister of Health.
Our discussion centered on a project that has been in the works for the past 30 years, one that no other minister had managed to advance.
Minister Pathirana, however, recognized the project’s significance and its potential to revolutionize care for heart patients.
The project involves the construction of a state-of-the-art facility at the premises of the National Hospital Colombo. The project’s location within the premises of the National Hospital underscores its importance and relevance to the healthcare infrastructure of the nation.
This facility will include a cardiology building and a tertiary care center, equipped with the latest technology to handle and treat all types of heart-related conditions and surgeries.
Securing funding was a major milestone for this initiative. Minister Pathirana successfully obtained approval for a $40 billion loan from the Asian Development Bank. With the funding in place, the foundation stone is scheduled to be laid in September this year, and construction will begin in January 2025.
This project guarantees a consistent and uninterrupted supply of stents and related medications for heart patients. As a result, patients will have timely access to essential medical supplies during their treatment and recovery. By securing these critical resources, the project aims to enhance patient outcomes, minimize treatment delays, and maintain the highest standards of cardiac care.
Upon its fruition, this monumental building will serve as a beacon of hope and healing, symbolizing the unwavering dedication to improving patient outcomes and fostering a healthier society.We anticipate a future marked by significant progress and positive outcomes in Sri Lanka’s cardiovascular treatment landscape within the foreseeable timeframe.
by Fr. Emmanuel Fernando, OMI
Jesuit Fr. Aloysius Pieris (affectionately called Fr. Aloy) celebrated his 90th birthday on April 9, 2024 and I, as the editor of our Oblate Journal, THE MISSIONARY OBLATE had gone to press by that time. Immediately I decided to publish an article, appreciating the untiring selfless services he continues to offer for inter-Faith dialogue, the renewal of the Catholic Church, his concern for the poor and the suffering Sri Lankan masses and to me, the present writer.
It was in 1988, when I was appointed Director of the Oblate Scholastics at Ampitiya by the then Oblate Provincial Fr. Anselm Silva, that I came to know Fr. Aloy more closely. Knowing well his expertise in matters spiritual, theological, Indological and pastoral, and with the collaborative spirit of my companion-formators, our Oblate Scholastics were sent to Tulana, the Research and Encounter Centre, Kelaniya, of which he is the Founder-Director, for ‘exposure-programmes’ on matters spiritual, biblical, theological and pastoral. Some of these dimensions according to my view and that of my companion-formators, were not available at the National Seminary, Ampitiya.
Ever since that time, our Oblate formators/ accompaniers at the Oblate Scholasticate, Ampitiya , have continued to send our Oblate Scholastics to Tulana Centre for deepening their insights and convictions regarding matters needed to serve the people in today’s context. Fr. Aloy also had tried very enthusiastically with the Oblate team headed by Frs. Oswald Firth and Clement Waidyasekara to begin a Theologate, directed by the Religious Congregations in Sri Lanka, for the contextual formation/ accompaniment of their members. It should very well be a desired goal of the Leaders / Provincials of the Religious Congregations.
Besides being a formator/accompanier at the Oblate Scholasticate, I was entrusted also with the task of editing and publishing our Oblate journal, ‘The Missionary Oblate’. To maintain the quality of the journal I continue to depend on Fr. Aloy for his thought-provoking and stimulating articles on Biblical Spirituality, Biblical Theology and Ecclesiology. I am very grateful to him for his generous assistance. Of late, his writings on renewal of the Church, initiated by Pope St. John XX111 and continued by Pope Francis through the Synodal path, published in our Oblate journal, enable our readers to focus their attention also on the needed renewal in the Catholic Church in Sri Lanka. Fr. Aloy appreciated very much the Synodal path adopted by the Jesuit Pope Francis for the renewal of the Church, rooted very much on prayerful discernment. In my Religious and presbyteral life, Fr.Aloy continues to be my spiritual animator / guide and ongoing formator / acccompanier.
Fr. Aloysius Pieris, BA Hons (Lond), LPh (SHC, India), STL (PFT, Naples), PhD (SLU/VC), ThD (Tilburg), D.Ltt (KU), has been one of the eminent Asian theologians well recognized internationally and one who has lectured and held visiting chairs in many universities both in the West and in the East. Many members of Religious Congregations from Asian countries have benefited from his lectures and guidance in the East Asian Pastoral Institute (EAPI) in Manila, Philippines. He had been a Theologian consulted by the Federation of Asian Bishops’ Conferences for many years. During his professorship at the Gregorian University in Rome, he was called to be a member of a special group of advisers on other religions consulted by Pope Paul VI.
Fr. Aloy is the author of more than 30 books and well over 500 Research Papers. Some of his books and articles have been translated and published in several countries. Among those books, one can find the following: 1) The Genesis of an Asian Theology of Liberation (An Autobiographical Excursus on the Art of Theologising in Asia, 2) An Asian Theology of Liberation, 3) Providential Timeliness of Vatican 11 (a long-overdue halt to a scandalous millennium, 4) Give Vatican 11 a chance, 5) Leadership in the Church, 6) Relishing our faith in working for justice (Themes for study and discussion), 7) A Message meant mainly, not exclusively for Jesuits (Background information necessary for helping Francis renew the Church), 8) Lent in Lanka (Reflections and Resolutions, 9) Love meets wisdom (A Christian Experience of Buddhism, 10) Fire and Water 11) God’s Reign for God’s poor, 12) Our Unhiddden Agenda (How we Jesuits work, pray and form our men). He is also the Editor of two journals, Vagdevi, Journal of Religious Reflection and Dialogue, New Series.
Fr. Aloy has a BA in Pali and Sanskrit from the University of London and a Ph.D in Buddhist Philosophy from the University of Sri Lankan, Vidyodaya Campus. On Nov. 23, 2019, he was awarded the prestigious honorary Doctorate of Literature (D.Litt) by the Chancellor of the University of Kelaniya, the Most Venerable Welamitiyawe Dharmakirthi Sri Kusala Dhamma Thera.
Fr. Aloy continues to be a promoter of Gospel values and virtues. Justice as a constitutive dimension of love and social concern for the downtrodden masses are very much noted in his life and work. He had very much appreciated the commitment of the late Fr. Joseph (Joe) Fernando, the National Director of the Social and Economic Centre (SEDEC) for the poor.
In Sri Lanka, a few religious Congregations – the Good Shepherd Sisters, the Christian Brothers, the Marist Brothers and the Oblates – have invited him to animate their members especially during their Provincial Congresses, Chapters and International Conferences. The mainline Christian Churches also have sought his advice and followed his seminars. I, for one, regret very much, that the Sri Lankan authorities of the Catholic Church –today’s Hierarchy—- have not sought Fr.
Aloy’s expertise for the renewal of the Catholic Church in Sri Lanka and thus have not benefited from the immense store of wisdom and insight that he can offer to our local Church while the Sri Lankan bishops who governed the Catholic church in the immediate aftermath of the Second Vatican Council (Edmund Fernando OMI, Anthony de Saram, Leo Nanayakkara OSB, Frank Marcus Fernando, Paul Perera,) visited him and consulted him on many matters. Among the Tamil Bishops, Bishop Rayappu Joseph was keeping close contact with him and Bishop J. Deogupillai hosted him and his team visiting him after the horrible Black July massacre of Tamils.
Sri Lanka-Singapore Free Trade Agreement
By Gomi Senadhira
senadhiragomi@gmail.com
“You might tell fairy tales, but the progress of a country cannot be achieved through such narratives. A country cannot be developed by making false promises. The country moved backward because of the electoral promises made by political parties throughout time. We have witnessed that the ultimate result of this is the country becoming bankrupt. Unfortunately, many segments of the population have not come to realize this yet.” – President Ranil Wickremesinghe, 2024 Budget speech
Any Sri Lankan would agree with the above words of President Wickremesinghe on the false promises our politicians and officials make and the fairy tales they narrate which bankrupted this country. So, to understand this, let’s look at one such fairy tale with lots of false promises; Ranil Wickremesinghe’s greatest achievement in the area of international trade and investment promotion during the Yahapalana period, Sri Lanka-Singapore Free Trade Agreement (SLSFTA).
It is appropriate and timely to do it now as Finance Minister Wickremesinghe has just presented to parliament a bill on the National Policy on Economic Transformation which includes the establishment of an Office for International Trade and the Sri Lanka Institute of Economics and International Trade.
Was SLSFTA a “Cleverly negotiated Free Trade Agreement” as stated by the (former) Minister of Development Strategies and International Trade Malik Samarawickrama during the Parliamentary Debate on the SLSFTA in July 2018, or a colossal blunder covered up with lies, false promises, and fairy tales? After SLSFTA was signed there were a number of fairy tales published on this agreement by the Ministry of Development Strategies and International, Institute of Policy Studies, and others.
However, for this article, I would like to limit my comments to the speech by Minister Samarawickrama during the Parliamentary Debate, and the two most important areas in the agreement which were covered up with lies, fairy tales, and false promises, namely: revenue loss for Sri Lanka and Investment from Singapore. On the other important area, “Waste products dumping” I do not want to comment here as I have written extensively on the issue.
1. The revenue loss
During the Parliamentary Debate in July 2018, Minister Samarawickrama stated “…. let me reiterate that this FTA with Singapore has been very cleverly negotiated by us…. The liberalisation programme under this FTA has been carefully designed to have the least impact on domestic industry and revenue collection. We have included all revenue sensitive items in the negative list of items which will not be subject to removal of tariff. Therefore, 97.8% revenue from Customs duty is protected. Our tariff liberalisation will take place over a period of 12-15 years! In fact, the revenue earned through tariffs on goods imported from Singapore last year was Rs. 35 billion.
The revenue loss for over the next 15 years due to the FTA is only Rs. 733 million– which when annualised, on average, is just Rs. 51 million. That is just 0.14% per year! So anyone who claims the Singapore FTA causes revenue loss to the Government cannot do basic arithmetic! Mr. Speaker, in conclusion, I call on my fellow members of this House – don’t mislead the public with baseless criticism that is not grounded in facts. Don’t look at petty politics and use these issues for your own political survival.”
I was surprised to read the minister’s speech because an article published in January 2018 in “The Straits Times“, based on information released by the Singaporean Negotiators stated, “…. With the FTA, tariff savings for Singapore exports are estimated to hit $10 million annually“.
As the annual tariff savings (that is the revenue loss for Sri Lanka) calculated by the Singaporean Negotiators, Singaporean $ 10 million (Sri Lankan rupees 1,200 million in 2018) was way above the rupees’ 733 million revenue loss for 15 years estimated by the Sri Lankan negotiators, it was clear to any observer that one of the parties to the agreement had not done the basic arithmetic!
Six years later, according to a report published by “The Morning” newspaper, speaking at the Committee on Public Finance (COPF) on 7th May 2024, Mr Samarawickrama’s chief trade negotiator K.J. Weerasinghehad had admitted “…. that forecasted revenue loss for the Government of Sri Lanka through the Singapore FTA is Rs. 450 million in 2023 and Rs. 1.3 billion in 2024.”
If these numbers are correct, as tariff liberalisation under the SLSFTA has just started, we will pass Rs 2 billion very soon. Then, the question is how Sri Lanka’s trade negotiators made such a colossal blunder. Didn’t they do their basic arithmetic? If they didn’t know how to do basic arithmetic they should have at least done their basic readings. For example, the headline of the article published in The Straits Times in January 2018 was “Singapore, Sri Lanka sign FTA, annual savings of $10m expected”.
Anyway, as Sri Lanka’s chief negotiator reiterated at the COPF meeting that “…. since 99% of the tariffs in Singapore have zero rates of duty, Sri Lanka has agreed on 80% tariff liberalisation over a period of 15 years while expecting Singapore investments to address the imbalance in trade,” let’s turn towards investment.
Investment from Singapore
In July 2018, speaking during the Parliamentary Debate on the FTA this is what Minister Malik Samarawickrama stated on investment from Singapore, “Already, thanks to this FTA, in just the past two-and-a-half months since the agreement came into effect we have received a proposal from Singapore for investment amounting to $ 14.8 billion in an oil refinery for export of petroleum products. In addition, we have proposals for a steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million), sugar refinery ($ 200 million). This adds up to more than $ 16.05 billion in the pipeline on these projects alone.
And all of these projects will create thousands of more jobs for our people. In principle approval has already been granted by the BOI and the investors are awaiting the release of land the environmental approvals to commence the project.
I request the Opposition and those with vested interests to change their narrow-minded thinking and join us to develop our country. We must always look at what is best for the whole community, not just the few who may oppose. We owe it to our people to courageously take decisions that will change their lives for the better.”
According to the media report I quoted earlier, speaking at the Committee on Public Finance (COPF) Chief Negotiator Weerasinghe has admitted that Sri Lanka was not happy with overall Singapore investments that have come in the past few years in return for the trade liberalisation under the Singapore-Sri Lanka Free Trade Agreement. He has added that between 2021 and 2023 the total investment from Singapore had been around $162 million!
What happened to those projects worth $16 billion negotiated, thanks to the SLSFTA, in just the two-and-a-half months after the agreement came into effect and approved by the BOI? I do not know about the steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million) and sugar refinery ($ 200 million).
However, story of the multibillion-dollar investment in the Petroleum Refinery unfolded in a manner that would qualify it as the best fairy tale with false promises presented by our politicians and the officials, prior to 2019 elections.
Though many Sri Lankans got to know, through the media which repeatedly highlighted a plethora of issues surrounding the project and the questionable credentials of the Singaporean investor, the construction work on the Mirrijiwela Oil Refinery along with the cement factory began on the24th of March 2019 with a bang and Minister Ranil Wickremesinghe and his ministers along with the foreign and local dignitaries laid the foundation stones.
That was few months before the 2019 Presidential elections. Inaugurating the construction work Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts.
The oil refinery, which was to be built over 200 acres of land, with the capacity to refine 200,000 barrels of crude oil per day, was to generate US$7 billion of exports and create 1,500 direct and 3,000 indirect jobs. The construction of the refinery was to be completed in 44 months. Four years later, in August 2023 the Cabinet of Ministers approved the proposal presented by President Ranil Wickremesinghe to cancel the agreement with the investors of the refinery as the project has not been implemented! Can they explain to the country how much money was wasted to produce that fairy tale?
It is obvious that the President, ministers, and officials had made huge blunders and had deliberately misled the public and the parliament on the revenue loss and potential investment from SLSFTA with fairy tales and false promises.
As the president himself said, a country cannot be developed by making false promises or with fairy tales and these false promises and fairy tales had bankrupted the country. “Unfortunately, many segments of the population have not come to realize this yet”.
(The writer, a specialist and an activist on trade and development issues . )
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