Sri Lanka economic crisis

IMF agrees to $2.9bn bailout for bankrupt Sri Lanka

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COLOMBO: Bankrupt Sri Lanka agreed a conditional $2.9 billion bailout with International Monetary Fund negotiators on Thursday, as the island nation seeks to overcome a bruising economic crisis that saw its president flee the country. Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation have plagued the country after it ran … Read more

Sri Lanka crisis will last at least two more years: Govt

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An anti-government demonstration in ColomboCOLOMBO: Sri Lanka will have to endure its unprecedented economic hardships for at least two more years, the country’s finance minister said Wednesday while warning of an imminent cash crunch. Months of blackouts and acute shortages of food, fuel and pharmaceuticals have brought widespread suffering across the South Asian island nation. … Read more