Inflation spirals: How are Sri Lanka, Turkey and Argentina dealing with it?

Inflation is a headache in India but a life-threatening disease in Sri Lanka, Argentina, and Turkey. Here is how their central banks are battling the necessary evil

The US Federal Reserve last week announced the most aggressive interest rate hike in 30 years to battle the highest inflation in many decades. The US Fed is one of the 45 central banks across the globe that have lifted interest rates in 2022 so far. The aim is to pump out the excess money out of the economy to cool down rising prices. Here are three countries with exceptionally high inflation rates and how their central banks are dealing with it.

Sri Lanka

The Sri Lankan economy has been struggling with fiscal and current account deficits, which pushed its