Sri Lanka begins talks with the IMF on a bailout plan from the crisis

• 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