Colombo [Sri Lanka] December 31 (ANI): The critical situation of the currency crisis in Sri Lanka has led to political, economic and social unrest. Furthermore, this currency collapse has resulted in a 100% increase in food prices in two years. Amidst all this, President Ranil Wickremesinghe has sought support, The Island Online reported.
In Sri Lanka, about 40% of households depend on agriculture. And two in ten households have experienced a reduction in income from June to December 2022. And to recover from the reduction in income, one in two households use negative coping mechanisms such as borrowing to cope the lack of food or money to buy it, according to The Island Online, an English-language newspaper in Sri Lanka.
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And on top of that, the country’s salaries and income are not able to cope, making it difficult to pay for food. Additionally, The Island Online report states that Sri Lanka typically takes about two years to recover from a currency crisis.
“Immediate action to provide farmers with quality seeds, fertilizers and pesticides will enable them to protect their livelihoods and feed their communities. It is also critical to provide cash assistance to the most vulnerable farmers, pastoralists and fishermen to enable them to re-establish their productivity. assets and accelerate their recovery,” said an FAO report.
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Agricultural production experienced a decline since mid-2021. As the country faces a significant shortage of fertilizers and other essential production inputs; Livestock farmers are unable to access feed and basic veterinary supplies, and fishermen are unable to access fuel for motor boats, The Island Online reported.
The Island Online quoted President Wickremesinghe who on December 16 this year appealed for everyone’s support keeping political differences aside. He emphasized that everyone must forget their differences and dedicate themselves to building the country’s economy.
He said that “In the year 2023, there is a possibility of a food shortage. We have started the food security program to do this. I suggest that there should be a review of the implementation of this program every division secretariat. Here we can get new data. Accordingly, we are moving forward with the food security program in a formal way. This program will not end after 2023. We will continue to do this. The councils have representatives from each political party. But all we need to implement this program together,” according to The Island Online report.
Wickremesinghe also mentioned that they have been able to provide the fertilizers needed by the farmers. And with the successful farming season, they have a surplus of rice. Although they had identified the problems as insufficient storage facilities.
“We are also working to solve these problems. At the same time, we have taken measures to control the price of rice,” he added. These steps can lead to the country’s recovery from food shortages and economic problems. (ANI)
(This is an unedited, auto-generated story from the syndicated news feed, the body of the content may not have been modified or edited by LatestLY staff)
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