Sri Lanka, which is facing an economic crisis, announced on Tuesday that it will not repay the foreign debt of $ 51 billion. To repay this, Sri Lanka is waiting for a relief package from the International Monetary Fund (IMF).
According to Sri Lankan Central Bank Governor P. Nandalal Weerasinghe, the decision has been taken to temporarily stop the payment of foreign debt. Weerasinghe said – It is challenging and impossible for the country to pay the debt. This is the right decision at this time.
The finance ministry said the lending countries and other lenders can charge interest on their loans or withdraw the loan money in Sri Lankan rupees from Tuesday afternoon. We are left with limited foreign exchange reserves, which we will use to import essential commodities like fuel. This means that Sri Lanka is no longer in a position to pay in dollars.
Big Updates of Sri Lanka Crisis…
India sent 11,000 metric tonnes of rice to Sri Lanka on Tuesday. Last week itself, India sent 16,000 metric tonnes of rice to Sri Lanka.
India has so far supplied over 2,70,000 metric tonnes of fuel to Sri Lanka.
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Sri Lankan Prime Minister Mahinda Rajapaksa has announced that he will reinstate the fertilizer subsidy for farmers. Due to the deepening of the economic crisis, the government announced a ban on many facilities and subsidies.
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