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Sri Lankans forced to cut back on food in worst economic crisis
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A World Bank report in October 2021 said that 500,000 people in Sri Lanka had slipped into poverty as the country reeled from the Covid-19 pandemic.
PHOTO: REUTERS
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BANGALORE - Sri Lankans are struggling with shortages and spiralling prices of essential staples like rice, coconut, milk and fuel as the island nation grapples with its worst ever economic crisis.
The country faces the prospect of bankruptcy this year if it does not rebuild currency reserves to import essentials and meet debt obligations totalling US$29 billion (S$39 billion). The Sri Lankan government has been trying to negotiate loans and arrange currency swaps with bilateral donors.
