Sri Lanka will need $5 billion in next six months for essentials -prime minister By Reuters

Spread the love

© Reuters. FILE PHOTO: Ranil Wickremesinghe, newly appointed prime minister, arrives at a Buddhist temple after his swearing-in ceremony amid the country’s economic crisis, in Colombo, Sri Lanka, May 12, 2022. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) – Sri Lanka’s cash-strapped government will need at least $5 billion in the next six months to maintain basic standards of living, including some $3.3 billion for fuel imports, the country’s prime minister told parliament on Tuesday.

“Only establishing economic stability not enough, we have to restructure the entire economy,” said Ranil Wickremesinghe, who is working to prepare an interim budget to balance Sri Lanka’s battered public finances.

The island nation of 22 million is suffering its worst economic crisis in seven decades, with a shortage of foreign exchange stalling essential imports.

Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x

Get Registered For FREE Forex Training!

Fill In Your Details To Get Registered For FREE Forex Training!

Do You Know About Forex Trading?(Required)
Have you done Forex Trading before?(Required)
Where did you hear about us?(Required)