DIGITAL EDITION | TELEVION

Tuesday, September 27, 2022

DIGITAL EDITION | TELEVION

Tuesday, September 27, 2022

Sri Lanka’s crisis should be warning to all on global food, fuel and finance – UN

Amid economic turmoil and human misery in Sri Lanka, ongoing war in Ukraine and countries already reeling under pressure from the economic fall-out of the COVID-19 pandemic, the UN has urged the international community to resort to radical financial measures to help countries saddled with debt.

“We’re witnessing a tragic series of events that are unfolding in Sri Lanka right now that should be a warning to anyone who thinks that, you know, it is up to countries themselves to figure out how to deal with this crisis,” said Achim Steiner, Administrator of the UN Development Programme (UNDP), in reference to the South Asian nation’s debt default last month – the first in its history.

“That default essentially means the country is no longer able to pay – or not only service – its debt, but actually to import fundamental parts of what keeps an economy alive, whether it is petrol or it is diesel, whether it is fuel, whether it is medicines,” Steiner added.

The warning came as new data from the UN Food and Agriculture Organization (FAO) indicated that the number of people affected by hunger globally rose to 828 million in 2021, an increase of about 46 million since 2020, and 150 million since the outbreak of coronavirus.

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