COLOMBO (Reuters) - Nearly 1,000 bakeries have closed in Sri Lanka due to a severe shortage of cooking gas, an industry association said on Monday, as the impact of dwindling foreign exchange reserves ricochets through the country's economy.
The island nation is facing its worst financial crisis in a decade with foreign exchange reserves shrinking 70% to $2.36 billion in January, leaving the government struggling to pay for imports including food, medicine and fuel.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!