Sri Lanka’s clothing export sector is facing economic and political chaos in its island country as its President Gotabaya Rajapaksa imposed a state of emergency last month (6 April) as foreign currency reserves collapsed to below US$50m and protests continued. With annual inflation now exceeding 29% (up from 18.7% in March) and rolling daily power cuts of at least three hours amidst fuel shortages, clothing manufacturers, who have thus far largely insulated themselves from the crisis are starting to suffer.
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