- Sri Lanka is facing record-high inflation and lengthy power blackouts.
- The country of 22 million people is suffering from its worst economic crisis.
- It has run out of foreign exchange to finance even the most essential imports.
Sri Lanka is in the midst of its worst economic crisis in decades; having ran out of foreign cash to pay for even the most basic imports such as food, fuel, and medications.
On Monday, Sri Lanka stopped schools and halted non-essential government activities; kicking off a two-week closure to conserve rapidly diminishing fuel reserves as the IMF began negotiations with Colombo on a possible bailout.
The 22-million-strong country is in the midst of its worst economic crisis in decades; having ran out of foreign cash to pay for even the most basic imports such as food, fuel, and medications.
Read More: Troops in Sri Lanka open fire to quell riots over petrol
As part of the government’s effort to limit commuting and preserve precious gasoline and diesel; schools were closed on Monday and governmental offices operated with skeleton staffing.
Sri Lanka is experiencing record-high inflation and long power outages; which have fueled months of largely peaceful rallies asking for President Gotabaya Rajapaksa to resign.
Read More: Sri Lanka left with fuel stocks for around five days