Food, healthcare and house rental costs are high and still increasing. Read more at straitstimes.com.
While price increases are easing, they are still high. Power costs, which jumped 65 per cent in February, remain difficult for low-income families despite a 14.2 per cent reduction in July.
Rising costs are having a toll on poverty, which nearly doubled to 25 per cent of the population last year and could jump to 27.4 per cent this year, according to the World Bank. Last week, the multilateral lender to developing countries approved a US$700 million loan for Sri Lanka, including US$200 million for the poor.In a new initiative to help the poor, the government has said it will roll out a direct cash transfer programme to about 2.
People queue along a street to buy Liquefied Petroleum Gas cylinders near the Galle International Cricket Stadium on June 28, 2022. PHOTO: AFP But China, Sri Lanka’s largest bilateral lender with about US$7.4 billion in outstanding bilateral and commercial loans, has so far declined to join a so-called common framework led by Japan and the Paris Club to renegotiate Sri Lanka’s debt.
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