Sri Lanka, begun talks with the IMF to over come its economy

ISLAMABAD, June 20 ( Alliance News): Crisis-stricken Sri Lanka has closed schools for two weeks to save the country’s rapidly depleting fuel reserves and cut off services to unnecessary government offices because the International Monetary Fund (IMF) Has begun talks with Colombo on a possible loan.

The country of 22 million people is facing its worst economic crisis since the dollar ran out to pay for much-needed imports, including fuel, according to a report by the foreign media.

Schools remained closed on Monday and state offices worked with small staff as part of government plans to reduce working hours and save expensive petrol and diesel, but work is still underway at the hospital and main port in Colombo. Is.

Hundreds of thousands of vehicles are queuing for petrol and diesel in the country’s economic woes, even as the energy ministry announced it would not have fresh fuel stocks for at least another three days.

Sri Lanka defaulted on its 51 51 billion foreign debt in April and turned to the IMF for help.

Lenders and the government said in brief statements that the first private talks with the IMF on Sri Lanka’s bailout request began in Colombo on Monday and would continue for another 10 days.

Canberra said in a statement that “Prime Minister Ranil Wickremesinghe is also scheduled to meet visiting Australian Home Minister Claire O’Neill to try to improve co-operation and help Sri Lanka as the country struggles.” We are facing economic conditions.

The statement said Claire O’Neill would also discuss strengthening international crime control, including human trafficking following an increase in the number of illegal immigrants by boat last month.

Sri Lanka is facing record high inflation and prolonged power outages that have led to months of protests in the country.

Violent demonstrations have also taken place in various parts of the country, demanding the resignation of President Gotabaya Rajapaksa.

Police arrested 21 students who closed all the doors of the Presidential Secretariat building after declaring Gotabia Rajapak’s 73rd anniversary ‘Day Mourning’ on Monday.

The order to close offices and schools came last week as the United Nations launched an emergency operation to feed thousands of pregnant women facing malnutrition.

The United Nations has said that four out of every five people in Sri Lanka have given up food because of food insecurity. The United Nations has warned that millions of people in Sri Lanka need assistance.

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