Crisis-hit Sri Lanka sends troops to fuel stations, aims to restructure debt

The Indian Ocean nation is battling a foreign exchange crisis that forced a currency devaluation and hit payments for essential imports such as food, medicine and fuel, prompting it to turn to the International Monetary Fund for help.

It was a response to complaints of stockpiling and inefficient distribution, said government spokesman Ramesh Pathirana.TWO SOLDIERS AT EACH PUMP Tension over the scarcity of supplies has fed sporadic violence among those scrambling to buy fuel and other essential items. The rapid drain of Sri Lanka's dollars has left it struggling to pay for critical imports as currency reserves have slumped 70% in the last two years to $2.31 billion.

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Sri Lanka in talks with China for $2.5 billion credit support, Chinese official saysChina is considering offering a $1.5 billion credit facility to Sri Lanka and a decision is expected soon, a top Chinese official said on Monday, as part of efforts to help the island nation amid its worst economic crisis in decades. We don't buy bitcoin We earn bitcoin From Mining I'm ready to show 10 lucky people how to earn 0.1BTC ($4,000) and more daily! No referral No withdrawal fees If interested, kindly send a DM
Source: Reuters - 🏆 2. / 97 Read more »

Sri Lanka in talks with China for $2.5 billion credit support, Chinese official saysChina is considering offering a $1.5 billion credit facility to Sri Lanka and a decision is expected soon, a top Chinese official said on Monday, as part of efforts to help the island nation amid its worst economic crisis in decades. We don't buy bitcoin We earn bitcoin From Mining I'm ready to show 10 lucky people how to earn 0.1BTC ($4,000) and more daily! No referral No withdrawal fees If interested, kindly send a DM
Source: Reuters - 🏆 2. / 97 Read more »