Economic crises (Economic Crisis) Sri Lanka facing (Sri Lanka) India has helped once again. India imports fuel (Fuel Import) An additional 500 500 million loan has been approved for Sri Lanka to help. This information was given by the Finance Minister of Sri Lanka Ali Sabri. This package is very important for Sri Lanka as it is currently negotiating a bailout package with the IMF to address its financial crisis. Which is taking time. It is likely that until the package is finalized by the IMF, the loan facility from India will help increase the supply of essential fuel to Sri Lanka.
Hope for more help from India
Sri Lanka is currently struggling to pay for imports after a sharp decline in its foreign exchange reserves, with Sri Lanka seeing a sharp decline in its currency and a surge in inflation. Given this, Sri Lanka expects more help from India. “India has agreed to provide an additional 500 500 million in credit loans for our fuel imports,” Sabri said. He hoped that India would consider additional assistance of 1 1 billion in the form of credit loans. India has already agreed to temporarily suspend import payments of 1.5 1.5 billion. Earlier, India also extended the સ્ 400 million currency swap issued in January this year.
Violent protests against the government in Sri Lanka
Sri Lanka as an independent nation is going through its most severe economic crisis. The crisis has also affected the country’s politics. Protests against the government are currently going on across the country. Demonstrations have also turned violent in many parts of the country. The country is currently facing a shortage of essential commodities. Long-term power cuts continue, with food and medicine shortages. At present the country is on the verge of bankruptcy. The country is set to repay 25 billion in debt over the next five years. Of that, 7 billion is due this year. The government last week announced it would avoid paying off all types of foreign debt. In fact, the government will use the money to buy food and other necessities. However, this will increase the pressure on the economy and the government may have to take many drastic measures.
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