World News | Sri Lanka's Health Ministry Reports Drug Shortage Amid Economic Crisis

Colombo [Sri Lanka], April 14 (ANI): Amid the continued economic hardship in the country, Sri Lankan Health Ministry has said there is a shortage of some drugs and equipment in certain government hospitals.

A shortage of supply of certain drugs occurred due to the delay in opening Letters of Credit in time including one given by India, Sri Lanka's Newswire reported. The report said several solutions have been identified to that effect, and they are being implemented.

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Sri Lankan authorities have made a request to international agencies, foreign nationals and Sri Lankan expatriates to make donations or provide essential drugs.

On Wednesday, the World Bank said that Sri Lanka needs urgent policy measures to address its high levels of debt and debt service, reduce the fiscal deficit, and restore external stability.

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The island nation faces a highly uncertain economic outlook due to fiscal and external imbalances.

Released on Wednesday, the World Bank's latest 'South Asia Economic Focus Reshaping Norms: A New Way Forward' projects the region to grow by 6.6 per cent in 2022 and by 6.3 per cent in 2023. The 2022 forecast has been revised downward by 1.0 percentage points compared to the January projection, mostly due to the impact of the war in Ukraine.

This comes as countries in South Asia are already grappling with rising commodity prices, supply bottlenecks, and vulnerabilities in financial sectors.

"The World Bank is deeply concerned about the uncertain economic outlook in Sri Lanka and the impact on people," said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka. "We are working on providing emergency support for poor and vulnerable households to help them weather the economic crisis and we remain committed to the wellbeing of the people of Sri Lanka, and to a narrative of sustainable and inclusive growth that will require concerted and collective action." (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)