Imf Offers Sri Lanka 2.9 Billion Temporary Loan To Tackle Debt Crisis Sri Lanka
The financing is meant to give breathing room to Sri Lanka, which is trying to restructure nearly $30 billion in debt owed to creditors including China, India and a host of international banks. Sri Lanka defaulted on its foreign debts for the first time in its history in May. The country is struggling with soaring inflation that recently hit 64 percent, as well as shortages of food, fuel and medicine that led to nationwide protests in the spring....