Coping with the external shocks of the continuing war in West Asia View(s):The escalation of the West Asian war, especially the closure of the Straits of Hormuz, is causing severe hardships to the country and threatens the economy. High prices for our essential imports and threats to our exports are severe setbacks to our external finances. Furthermore, remittances from our workers in West Asia—the biggest strength to our balance of payments and external reserves—would be adversely affected. Our exports of tea to West Asia, our largest market for our tea, have been disrupted. FertiliserAnother silver lining in this dark scenario of external shocks to the economy is the agriculture minister’s announcement that there are adequate stocks of fertiliser.

Source: Sunday Times March 21, 2026 19:44 UTC