THE Sri Lanka It 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.
The country will close schools and allow refueling only for vital services, such as health care and trains and buses, for two weeks from now, the minister said, in a desperate attempt to address their severe shortage. .
Industries such as the garment industry, a major img of income for Sri Lanka, still have fuel for only one week to 10 days. The country’s current reserves will be depleted in a little less than a week if normal demand continues, according to Reuters calculations.
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.
Discussions with the IMF
Government in talks with International Monetary Fund (IMF) for a possible rescue plan, but there are many who can not wait that long and passport applications have increased.
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 shortage 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. “The government has lied to the world repeatedly and has no plans for how it will proceed,” he said in a video.
Source: News Beast
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