By Anusha Ondaatjie and Asantha Sirimanne Sri Lanka’s debt negotiations with China and India “are successful,” according to President Ranil Wickremesinghe, bringing the bankrupt nation closer to clearing a major hurdle to unlock $2.9 billion from the International Monetary Fund.
(Bloomberg) –Food importers from Africa to Asia are scrambling for dollars to pay their bills as a surge in the US currency drives prices even higher for countries already facing.
By Anusha Ondaatjie, Asantha Sirimanne and Elizabeth Low (Bloomberg) –Sri Lanka is receiving Russian crude oil that it will use to make fuel as the bankrupt nation faces crippling shortages of.
The announcement may bring a modicum of stability to the country, which is on the verge of bankruptcy and needs a government to lead bailout talks with the International Monetary Fund
Ahead of the November 2019 election, Sri Lankan presidential challenger Gotabaya Rajapaksa proposed sweeping tax cuts so reckless the incumbent government thought it must be a campaign gimmick.