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Sri Lanka looks to rely more on India's help until IMF funding agreed

Sri Lanka has been plagued by shortages of necessities, power cuts, and rampant inflation, which has triggered calls for the ouster of President Gotabaya Rajapaksa

Sri Lanka needs between $3 billion to $4 billion this year to pull itself out of an unprecedented economic crisis, Finance Minister Ali Sabry said
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Sri Lanka’s central bank governor Nandalal Weerasinghe said the next three months would be the “biggest challenge” as the nation faced foreign-exchange shortages of about $500 million monthly.

Anusha Ondaatjie | Bloomberg
Sri Lanka is counting on more help from India until it secures an International Monetary Fund program that’s hoped would unlock aid from other lenders to help face the worst economic crisis of its independent history.
 
The South Asian nation has been plagued by shortages of necessities, power cuts, and rampant inflation, which has triggered calls for the ouster of President Gotabaya Rajapaksa. Prime Minister Ranil Wickremesinghe, who this week also took on the role of finance minister, said on May 26 that he’s looking to fast-track talks with the IMF as the nation will need about $4 billion this

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First Published: May 28 2022 | 12:10 PM IST

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