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Sri Lanka’s central bank chief says measures to deal with economic crisis may not be ‘palatable’

2022-03-08 09:54:42       source:CNBC

March 7, 2022


As Sri Lanka battles one of its worst economic crises in over 70 years, its central bank governor expressed optimism the country would be able to pull through, but stressed the importance of measures that “may be not very palatable.”


″We have the confidence to say that Sri Lanka would go through these times for a short period … We should be able to get out of this situation sooner than later,” Ajith Nivard Cabraal said on CNBC’s “Squawk Box Asia” on Monday.


In September, the country declared an economic emergency to control food supply and contain soaring inflation after a steep devaluation of its currency. Sri Lanka has been facing widespread and severe shortages of food and other essentials. It has also run out of cash to import fuel, leading to long queues outside petrol stations.


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https://www.cnbc.com/2022/03/08/sri-lanka-central-bank-chief-on-dealing-with-countrys-economic-crisis.html