Sri Lanka’s economic activity paralyzed after declaring bankruptcy
Severe fuel shortage… Close the door to the government office
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[앵커]
As food and oil prices soared due to the effects of the war in Ukraine, especially emerging countries, are having a hard time.
In addition, as the interest repayment burden increases due to the increase in the US base rate, there are concerns about a series of national defaults in some emerging countries.
Reporter Kim Hyung-geun on the sidewalk.
[기자]
Protesters wave barricades to break through police barriers.
The police are desperate to stop them by firing water cannons.
The streets filled with tear gas smoke are reminiscent of battlefields.
All economic activity in Sri Lanka has been paralyzed since the country declared bankruptcy last month.
You have to stand in line all day to buy a can of gasoline.
Due to lack of fuel, even government offices were closed.
[세나카 페레라 / 스리랑카 시위대 : 정부는 국민의 목소리에 귀를 기울이고 필요한 해결책을 제시해야 합니다.]
A state of emergency has also been declared in Ecuador after violent protests over rising prices.
[제니 줌바 / 에콰도르 이웃연맹 대표 : 생활비가 끔찍해요. 기본적인 상품은 감당할 수 없고, 가격도 치솟았고, 연료도 올랐습니다.]
Protests continue in Tunisia, Pakistan and Peru.
To make matters worse, emerging markets, which have been faltering due to soaring prices and slowing growth, have been hit hard by interest rate hikes in the US and Europe.
As the burden of debt repayment increases, there is concern about a ‘serial bankruptcy’.
Besides Sri Lanka, Zambia and Lebanon are on the verge of national bankruptcy.
In addition, the situation in Argentina, Ecuador, Ethiopia and Pakistan is also dire.
[데이비드 맬패스 / 세계은행 총재 : 금리가 상승함에 따라 신흥국에 대한 부채 압력이 증가하고 있습니다. 시급히 해결책을 모색해야 합니다.]
The United Nations Conference on Trade and Development called for 20 major countries to suspend debt repayment of emerging countries, saying the crisis is more serious than the Corona crisis.
This is YTN Kim Hyung-geun.
YTN Kim Hyung-geun (hkkim@ytn.co.kr)
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