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ශ්‍රී ලංකා ප්‍රජාතාන්ත්‍රික සමාජවාදී ජනරජය
இலங்கை ஜனநாயக சமத்துவ குடியரசு

Democratic Socialist Republic of Sri Lanka

Flag of Sri Lanka Coat of Arms of Sri Lanka
Anthem
Sri Lanka Matha
Map of Sri Lanka
Tamil Eelam (1983-2009)
CapitalSri Jayawardenapura-Kotte
Government Semi-presidential socialist republic
President
- From 2005Mahinda Rajapaksa
Prime Minister
- From 2010D. M. Jayaratne
Legislature Parliament
History
September 7, 1978Socialist republic
Commonwealth accessionFebruary 4, 1948
Area65,610 km²
Population
- 200920,238,000
 Density308.4/km²
GDP2009 (PPP)
- TotalUS$ 101.7 billion
- Per capitaUS$ 5,026
CurrencySri Lankan Rupee
Flag of Sri Lanka Sri Lanka
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The Democratic Socialist Republic of Sri Lanka is a socialist republic in South Asia.


Background

The first Sinhalese arrived in Sri Lanka late in the 6th century B.C. probably from northern India. Buddhism was introduced in about the mid-third century B.C., and a great civilization developed at the cities of Anuradhapura (kingdom from circa 200 B.C. to circa A.D. 1000) and Polonnaruwa (from about 1070 to 1200). In the 14th century, a south Indian dynasty established a Tamil kingdom in northern Sri Lanka. The coastal areas of the island were controlled by the Portuguese in the 16th century and by the Dutch in the 17th century. The island was ceded to the British in 1796, became a crown colony in 1802, and was united under British rule by 1815. As Ceylon, it became independent in 1948; its name was changed to Sri Lanka in 1972. Tensions between the Sinhalese majority and Tamil separatists erupted into war in 1983. After two decades of fighting, the government and Liberation Tigers of Tamil Eelam (LTTE) formalized a cease-fire in February 2002 with Norway brokering peace negotiations. Violence between the LTTE and government forces intensified in 2006 and the government regained control of the Eastern Province in 2007. In May 2009, the government announced that its military had finally defeated the remnants of the LTTE and that its leader, Velupillai PRABHAKARAN, had been killed.[1]

Economy

Sri Lanka is engaging in large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE, including increasing electricity access and rebuilding its road and rail network. Additionally, Sri Lanka seeks to reduce poverty by using a combination of state directed policies and private investment promotion to spur growth in disadvantaged areas, develop small and medium enterprises, and promote increased agriculture, High levels of government funding may be difficult, as the government already is faced with high debt interest payments, a bloated civil service, and historically high budget deficits. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis, which was alleviated by a $2.6 billion IMF standby agreement in July 2009. The end of the civil war and the IMF loan, however, have largely restored investors' confidence, reflected in part by the Sri Lankan stock market's recognition as one of the best performing markets in the world. Sri Lankan growth rates averaged nearly 5% in during the war, but increased government spending on development and fighting the LTTE in the final years spurred GDP growth to around 6-7% per year in 2006-08. After experiencing 3.5% growth in 2009, Sri Lanka's economy is poised to achieve high growth rates in the postwar period.[2]

President

  • Mahinda Rajapaksa () (November 19, 2005 - )


Prime Minister

  • D. M. Jayaratne () (April 21, 2010 - )

Nation

Sri Lankan Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

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