Published on: September 2, 2021


ECONOMIC EMERGENCY IN SRI LANKA What is in news : Sri Lankan President has declared an economic emergency to contain soaring inflation after a steep fall in the value of the country’s currency caused a spike in food prices

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  • Under the public security ordinance
  • Prevent the hoarding of essential items, including rice and sugar
  • Appointed a former General as commissioner of essential services
  • Will have the power to seize food stocks held by traders and retailers and regulate their prices
  • Emergency move followed sharp price rises for sugar, rice, onions and potatoes