The inflation rate continued to decline in Sri Lanka in July and reached 6.3 percent, according to data from the Census and Statistics Department, the lowest rate the country has recorded in nearly two years while it is going through a deep economic crisis.
Inflation peaked at 69.8 percent last September, before falling sharply. Last month, it recorded 12 percent.
The island, which has a population of 22 million, defaulted on its external debt of $46 billion (43 billion euros) in April 2022, during an unprecedented economic crisis that caused shortages of food, fuel and medicine for months.
President Ranil Wickremesinghe took power a year ago, after his predecessor fled due to violent protests.
Sri Lanka has been trying since then, with the help of the International Monetary Fund, to improve its situation, despite expectations that it will remain bankrupt until 2026.
The deputy managing director of the International Monetary Fund said in early June that the country’s economy showed “timid signs of improvement” but that Colombo must continue to implement painful reforms.
2023-08-01 06:07:46
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