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Sri Lanka open to discussions with IMF as economic situation worsens

Sri Lanka is open to discussions with the IMF and other multilateral lenders for assistance, a cabinet spokesman said on Tuesday, as it faces its worst economic crisis in years.

Sri Lanka
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Sri Lanka, (Photo: Bloomberg)

Reuters Colombo
Sri Lanka is open to discussions with the International Monetary Fund (IMF) and other multilateral lenders for assistance, a cabinet spokesman said on Tuesday, as it faces its worst economic crisis in years. "Sri Lanka has sought IMF assistance multiple times in the past and we are still open to that option," cabinet spokesman and Plantation Minister Ramesh Pathirana said.
 
Sri Lanka's foreign exchange reserves have plummeted to $2.36 billion, hitting imports of essential goods, including fuel, and inflation is quickening. The island nation of 22 million people also faces debt repayment obligations of about $4 billion this year, and

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 22 2022 | 1:08 PM IST

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