INSUBCONTINENT EXCLUSIVE:
Cabinet Minister said on Tuesday, ahead of the visit by the IMF delegation for a bailout package to the crisis-hit island nation.Sri Lanka
is in the midst of an unprecedented economic crisis that has led to severe shortages of fuel and other essentials, leading to long
Cabinet of ministers has approved a fiscal framework for 2023-2025
IMF delegation which will arrive here tonight
that the overall rate of inflation as measured by the National Consumer Price Index on a year-on-year basis had gone up to 66.7 per cent in
that Sri Lanka has been ranked 5th with the highest food price inflation in the world
Sri Lanka is ranked behind Zimbabwe, Venezuela, and Turkey, while Lebanon leads the list.The World Bank said record high food prices have
triggered a global crisis that will drive millions more into extreme poverty, magnifying hunger and malnutrition while threatening to erase
hard-won gains in development.The war in Ukraine, supply chain disruptions, and the continued economic fallout of the covid-19 pandemic are
reversing years of development gains and pushing food prices to all-time highs.Rising food prices have a greater impact on people in low-
and middle-income countries since they spend a larger share of their income on food than people in high-income countries
This brief looks at rising food insecurity and World Bank responses to date.Source: PTI--Agencies
This article first appeared/also appeared in https://adaderana.lk
