Sri Lanka is experiencing its worst-ever economic crisis in 70 years that has caused rolling electricity blackouts and affected payments for essential imports of food, medicine and fuel. On March 17, India extended a $1-billion short-term concessional loan to the cash-strapped nation. The International Monetary Fund (IMF) on March 18 announced it was considering the bailout request made by Prime Minister Gotabaya Rajapaksa who found the $51 billion foreign debt burden unsustainable. The government also wants to hire a global law firm to help restructure its debt.
Sri Lankan Economic Crisis In Pictures
Economic crises in Sri Sri Lanka is experiencing its worst-ever economic crisis in 70 years that has caused rolling electricity blackouts and affected payments for essential imports of food, medicine and fuel. On March 17, India extended a $1-billion short-term concessional loan to the cash-strapped nation. The International Monetary Fund (IMF) on March 18 announced it was considering the bailout request made by Prime Minister Gotabaya Rajapaksa who found the $51 billion foreign debt burden unsustainable. The government also wants to hire a global law firm to help restructure its debt.
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Economic crises in Sri Lanka
Economic crises in Sri Lanka
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