Sri Lanka declares economic emergency to contain food prices as forex crisis worsens

Severe shortages of milk powder, kerosene oil and cooking gas.

Sri Lankan President Gotabaya Rajapaksa 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. President Rajapaksa on Tuesday declared the state of emergency under the public security ordinance to prevent the hoarding of essential items, including rice and sugar. The emergency came into effect from midnight on Tuesday. “The president has promulgated emergency regulations under the Public Security Ordinance on the supply of essential goods,” presidential spokesman Kingsley Ratnayake told reporters.