The Asian Development Bank today announced that the devastation of Sri Lanka’s fishing communities and small-scale traders due to the recent tsunami, led to significant job losses, boosting the ranks of the poor by 287,000 people and the national poverty level by 1.4 percentage points to 26.6 percent.
Issuing a statement in its annual Asian Development Outlook Report, the ADB said that “India, Maldives, and Sri Lanka could take longer to recover, and Indonesia even longer.”
“Despite the huge scale of loss of human life, homelessness and displaced populations, the macroeconomic impact of the disaster appears limited,” it further said.
The Bank warned that it could take the affected populations many years to recover from poverty. It urged governments to ensure that tsunami relief funds are not frittered away through corruption.