Sri Lanka is not the only country where household budgets are stretched to the breaking point.
In many countries, high inflation has increased the cost of living, and protests are erupting at a rapid pace.... [+]
weekend protests amid the country's ongoing economic and political crisis on April 09, 2022 in Colombo, Sri Lanka. Protesters have taken to the streets in fiery scenes as Sri Lanka's economy faces soaring inflation, dwindling supplies, power cuts and other ongoing problems caused by a combination of Covid-19, lack of tourism, and soaring input costs for the import-dependent economy.
Thousands of Albanians marched in Tirana last week, demanding that the government resign due to alleged corruption and a massive increase in consumer prices. The Albanian central bank announced a 1.25% interest rate increase, while official June inflation was 6.7%. Thousands of Argentinians marched in Buenos Aires last week to protest rising costs of living. With key interest rates at 52% and inflation at 60.7% in May, demonstrators urged the government to resign while rejecting IMF loans that come with ever-tougher conditions for citizens.
Protests against the government in Panama began on first July, demanding that the government address the country's high cost of living. Demonstrators are demanding higher wages, lower commodity prices and the removal of supply chain bottlenecks. While inflation remains low in the highly monetized country, global supply chain issues have impacted Panama Canal revenues, reducing the government's revenues and projections.
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