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‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy A rice wholesaler plies his trade in Pettah, a commercial hub in Colombo, Sri Lanka. The military has been given power to control prices of food essentials, such as rice. Photograph: Chamila Karunarathne/EPASource:Theguardian Half a million people have sunk into poverty since the pandemic struck, with rising costs forcing many to cut back on food Coronavirus – latest updates See all our coronavirus coverage Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its coffers run dry. The meltdown faced by the government, led by the strongman president Gotabaya Rajapaksa, is in part caused by the immediate impact of the Covid crisis and the loss of tourism but is compounded by high government spending and tax cuts eroding ...