Protests seen in Sri Lanka could repeat in other countries, cautions IMF Chief

COLOMBO (News 1st); Governments need to subsidize the cost of food and energy for the poorest members of society, the head of the International Monetary Fund (IMF), Kristalina Georgieva states, reports the BBC.

Georgieva states that she is concerned that without the correct Government support, the protests seen in Sri Lanka could be repeated in other countries.

Speaking further, Georgieva mentioned that Sri Lanka's economic crisis, exacerbated by rising prices, has led to deadly riots, a new Prime Minister and a first ever default on its debts.

The IMF boss said such similar unrest before the pandemic, from France to Chile, was caused by "a sense of inequality growing" and decisions being made without the support of the people.

"If we are to learn any lessons from 2019 if is to be much more humble about policy decisions, and engage in multiple ways with people, because policies must be for people, not the paper we write them on," she said.