Sri Lankan President Gotabaya Rajapaksa introduced emergency price regulations to control the cost of essential food items in the country after private banks ran out of foreign exchanges needed to finance imports, Al Jazeera reported Aug. 31. The regulations are also meant to restrict the hoarding of essentials (such as sugar and rice) amid shortages. The new laws give authorities a broad range of powers, including the ability to seize food stocks held by traders, arrest individuals who hoard food, and implement controlled food prices. Why It Matters: The lack of foreign exchanges amid another wave of COVID-19 infections, as well as a new dengue outbreak, is threatening Sri Lanka’s ability to procure medications and other life-saving equipment from foreign sources.