Six out of 10 Lankans vulnerable due to economic crisis: UNDP

Six out of ten Sri Lankans are multidimensionally vulnerabe due to the ongoing economic crisis in the country coupled with debt, lack of education, and the ability to adapt to disasters, according to a new survey.

The new survey, commissioned by the United Nations Development Programme (UNDP) and Oxford’s Poverty and Human Development Initiative (OPHI) found that 55.7 per cent of the population or 12.3 million people experience multidimensionally vulnerability.

The survey was conducted from November last year to March capturing the impact of the ongoing economic crisis on the people with a representative sample of 25,000 households. 

Among the 12.34 million individuals facing vulnerability, a considerable 10.13 million are rural residents, notably concentrated in the Eastern, North, and North Central provinces, the survey found.  “Prominent factors contributing to rural multidimensional vulnerability encompass indebtedness, resilience to disasters, and access to water sources,”

Stressing that the highest contributor to the Multidimensional Vulnerability Index (MVI) is the indicator related to household debt, the report found 33.4 per cent of the population experience vulnerability and deprivation in debt-related indicators, including getting into debt for essential needs like food, medical care, and education, as well as pawning jewellery or selling items.

“In light of the economic crisis, it is highly probable that individuals’ debt situations have deteriorated, consequently resulting in elevated deprivations in the debt indicator,” the report added. 

The report also emphasized Sri Lanka’s inadequate readiness during disasters by indicating nearly half of the population (48.8 per cent) lacked disaster preparedness which in turn exposes the population to heightened vulnerability.