How Sri Lanka is trying to solve a growing household debt problem
Al Jazeera · Older
Al Jazeera
Older
The United Nations is warning that a large number of households in Sri Lanka, are grappling with debt. That's as the country tries to recover from its worst economic crisis. But despite the economy stabilising, many people are still struggling.
Breakdown
- Many Sri Lankan families are struggling with debt, often pawning valuables to cover essentials. 4s
- Over 40 percent of households are considered vulnerable to economic or climate shocks. 50s
- Experts argue that economic stabilisation alone is not enough to improve living conditions. 1m 10s
- The Central Bank and UNDP have launched a financial literacy program to address risky financial practices. 1m 36s
- Additional measures, such as regulations and support for small businesses, are recommended to protect vulnerable households. 2m 2s