Sri Lanka faces a conundrum as transport costs double
The central bank is stuck between a rock and a hard place, having run out of dollars to pay for imports and printing more money will only fuel rocketing inflation
03 July 2022 - 08:24
The cost of transport in Sri Lanka’s capital, Colombo, doubled last month even though most residents were stuck at home due to a severe shortage of fuel, highlighting a crucial dilemma for the central bank.
Governor Nandalal Weerasinghe has to decide on Thursday whether to raise borrowing costs after data this week shows price pressures breached hyperinflation levels...
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