Sri Lanka Economic Crisis: India rushes meals, drugs to bankrupt Sri Lanka | World News – Times of India

COLOMBO: Sri Lanka approved a rice and prescribed drugs cargo from neighboring India on Friday because the island country battles an extraordinary financial disaster that has left grocery store cabinets and pharmacy cupboards empty.
A important scarcity of foreign currency echange has left Sri Lanka not able to pay for sufficient imported meals, gas and drugs to fulfill call for because the finish of final 12 months, inflicting standard hardship.
Its 22 million other folks have additionally been pressured to undergo extended day by day blackouts and galloping inflation that has strained family budgets.

India has prolonged $1.5 billion in credit score traces to permit Sri Lanka to stay assembly a portion of its meals and effort wishes, and Friday’s cargo adopted a talk over with by way of Indian professionals for support talks.
“Both parties discussed at length the future course of action of the Indian aid program to stabilize and revive the Sri Lankan economy,” Sri Lankan President Gotabaya Rajapaksa’s workplace mentioned after the assembly.

An acute loss of petrol has immobilised Sri Lanka this week, with parliament canceling two days of sittings to assist preserve gas.
The United Nations final week appealed for emergency meals support after a survey confirmed that 4 out of 5 Sri Lankans have been skipping foods to deal with the disaster.
A US Treasury delegation is predicted within the capital Colombo subsequent week to evaluate the disaster, with the Prime Minister Ranil Wickremesinghe telling lawmakers Wednesday that the country’s economic system had reached the purpose of “complete collapse”.
Sri Lanka has already defaulted on its $51 billion international debt and is in bailout talks with the International Monetary Fundwhich might take months.

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