Half a million people have sunk into poverty since the pandemic struck, with rising costs forcing many to cut back on food
Summary
- Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its coffers run dry.
- One of the most pressing problems for Sri Lanka is its huge foreign debt burden.
- “When the economic crisis deepens beyond redemption, it is inevitable that the country will have a financial crisis too,” he said.
- At that point, it will be a humanitarian crisis.”One of the most pressing problems for Sri Lanka is its huge foreign debt burden, in particular to China.
- Many fearing a loss decided not to cultivate crops at all, adding to the food shortages in Sri Lanka.