FinTech Magazine - October 2022 | Page 11

Soaring costs lead to anger and anguish

Colombo , Sri Lanka

Rising food and fuel prices and spiralling inflation have prompted a ‘ summer of discontent ’. Anti-government protests have been seen in Ecuador , Panama and Sri Lanka ( pictured ). In the latter , protestors stormed the President ’ s House in Colombo and forced him to flee . In South Africa , thousands of people took part in rallies to decry rising fuel prices , high inflation and rampant unemployment . In the UK , rail workers , bus drivers and criminal barristers all walked out over pay and conditions . Fintech has already felt the pinch , but further inflation and a potential recession could plunge the sector into deeper financial trouble .
© Antan O / CC BY-SA 4.0