Sri Lanka will close schools and allow refueling only for vital services, such as the health sector and trains and buses, for two weeks from now, the minister said, in a desperate attempt to address a serious shortage. their.
Sri Lanka is facing its worst economic crisis, with foreign exchange reserves at an all-time low and the country of 22 million people struggling to pay for basic imports of food, medicine and mainly fuel.
Industries such as the garment industry, a major source of income in Sri Lanka, still have fuel for just one week to 10 days. The country’s current reserves will be depleted in just under a week if normal demand continues, according to Reuters estimates.
Sri Lanka will only refuel trains and buses, health services and vehicles transporting food from today until July 10, said cabinet spokesman Bandula Guneuardena.
Schools in urban areas will be closed and everyone will be invited to work from home, he added. Bus services connecting the provinces will be limited.
“Sri Lanka has never faced such a severe economic crisis in its history,” he said.
The government is in talks with the International Monetary Fund (IMF) over a possible bailout, but many can not wait that long and passport applications have risen.
The navy arrested 54 people off the east coast of Sri Lanka in the early hours of Monday as they tried to flee the country by boat, a government spokesman said, while another 35 had been arrested last week.
President Gothambaya Rajapaksa’s older brother resigned as prime minister last month after clashes between pro-government and anti-government protesters spread across the country, killing nine people and injuring 300.
Escalation of fuel shortages could lead to a new wave of protests.
Opposition leader Sajit Premantasa has called for the government to resign.
“The country has completely collapsed due to lack of fuel,” he said in a video. “The government has lied to the world repeatedly and has no plans for how it will proceed.”
SOURCE: AMPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
