Sri Lanka urgently seeks $6 billion to keep economy afloat

Published by
Al-Araby

Cash-strapped Sri Lanka on Tuesday asked the International Monetary Fund to arrange a creditor meeting for $6 billion in loans to help keep the country afloat during its unprecedented economic crisis. Months of daily blackouts, long queues for petrol and record inflation have made daily life a misery in the South Asian island nation of 22 million people. Sri Lanka is a big story which should be getting even more attention. First Asia Pacific default this century. Inflation at 40%. Worst economic crisis in the country for 70 years, in a country with a long history of political instability. Any …

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