World News: Life ‘very hard’ for Sri Lanka fishermen in financial squall – Gulf Digital News

World News: Life ‘very hard’ for Sri Lanka fishermen in financial squall – Gulf Digital News

NEGOMBO: After three weeks at sea, Anton Fernando tallies his sales of tuna and other fish on a dock in Negombo, a fishing town in Sri Lanka, where the country's financial crisis darkens already murky waters.

The math does not look good for Fernando and his crew of four among the dozen gently bobbing trawlers. Each takes home 40,000 Sri Lankan rupees ($130) from their gruelling expedition.

"This will not be enough to cover their household expenses," Fernando, 44, told Reuters, holding up a notebook scribbled with numbers. "Even before we go home, we know this isn't enough to cover electricity and water bills, tuition fees and food."

The island nation of 22 million people off the southern tip of India is battling its worst financial crisis since independence in 1948, as COVID-19, mismanaged government finances and ill-timed tax cuts sap dwindling foreign reserves.

Last week the central bank said it was suspending repayment on some of its foreign debt pending a restructure.

In the commercial capital Colombo, protesters crowd the streets demanding the ouster of President Gotabaya Rajapaksa as people deal with skyrocketing prices, prolonged power cuts and shortages of medicine, fuel and other items.

In Negombo, the fisherman struggle to stay afloat.

Fishing makes up