Sacks of potatoes and onions are seen in a store at Pettah Market in Colombo, Sri Lanka. Prices of essential items have surged in the island nation as it runs out of foreign exchange to pay for imports.  Photo: Bloomberg
Sacks of potatoes and onions are seen in a store at Pettah Market in Colombo, Sri Lanka. Prices of essential items have surged in the island nation as it runs out of foreign exchange to pay for imports. Photo: Bloomberg
Sri Lanka

Sri Lanka to issue US$1 billion in relief amid soaring food prices as foreign exchange reserves dwindle

  • The island nation is struggling to purchase wheat, sugar and milk powder from abroad as the local currency depreciates and inflates its import bill
  • Headline inflation hit 12 per cent in December. Foreign exchange reserves stand at about US$3.1 billion – enough to pay for just two months of imports

Topic |   Sri Lanka
Sacks of potatoes and onions are seen in a store at Pettah Market in Colombo, Sri Lanka. Prices of essential items have surged in the island nation as it runs out of foreign exchange to pay for imports.  Photo: Bloomberg
Sacks of potatoes and onions are seen in a store at Pettah Market in Colombo, Sri Lanka. Prices of essential items have surged in the island nation as it runs out of foreign exchange to pay for imports. Photo: Bloomberg
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