<p>Sri Lanka's troubles seem to be getting worse. On Saturday, while apologising for the country's worsening fuel crisis, Kanchana Wijesekera, the South Asian nation's energy minister said that several expected shipments were facing&nbsp;unexpected delays. As per an AFP report,&nbsp;Sri Lanka is virtually running out of petrol and diesel.&nbsp;The minister said that oil cargoes which were due last week failed to turn up while those expected next week will also not reach the country thanks to some "banking and logistical reasons" reasons.&nbsp;He further added that the state-run Ceylon Petroleum Corporation (CPC), is unable to predict when new oil supplies will arrive on the island.&nbsp;</p>

<p>In response to a lack of crude oil, the CPC also closed its sole refinery, he continued. 90,000 tonnes of Russian crude oil purchased on a two-month credit basis through Coral Energy in Dubai was used by the refinery to begin operations earlier this month.</p>

<p><strong>Watch | Sri Lanka economic crisis: Indian officials hold talks on additional aid</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sri-lanka-economic-crisis-indian-officials-hold-talks-on-additional-aid-491069/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>The nation is facing a serious shortage of foreign exchange and has barely any to finance even the most essential imports like food, fuel and medicines. To alleviate the situation the country had to resort to appealing for international handouts.</p>

<p>As hundreds of thousands of drivers waited for hours for gasoline and diesel across the poor country, the minister apologised "for the delay and inconvenience."</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-limits-forex-possession-by-citizens-to-support-diminishing-reserves-491733" hreflang="en">Sri Lanka limits forex possession by citizens to support diminishing reserves</a></strong></p>

<p>The 22 million-person South Asian nation would continue to experience challenges for a few more months, Prime Minister Ranil Wickremesinghe warned parliament on Wednesday. He also advised people to utilise fuel carefully.</p>

<p>"Our economy has faced a complete collapse," Wickremesinghe said.&nbsp;</p>

<p>"We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food."</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>Watch WION LIVE HERE:</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


Sri Lanka's troubles seem to be getting worse. On Saturday, while apologising for the country's worsening fuel crisis, Kanchana Wijesekera, the South Asian nation's energy minister said that several expected shipments were facing unexpected delays.

Sri Lanka's troubles seem to be getting worse. On Saturday, while apologising for the country's worsening fuel crisis, Kanchana Wijesekera, the South Asian nation's energy minister said that several expected shipments were facing unexpected delays. As per an AFP report, Sri Lanka is virtually running out of petrol and diesel. The minister said that oil cargoes which were due last week failed to turn up while those expected next week will also not reach the country thanks to some "banking and logistical reasons" reasons. He further added that the state-run Ceylon Petroleum Corporation (CPC), is unable to predict when new oil supplies will arrive on the island. In response to a lack of crude oil, the CPC also closed its sole refinery, he continued. 90,000 tonnes of Russian crude oil purchased on a two-month credit basis through Coral Energy in Dubai was used by the refinery to begin operations earlier this month. Watch | Sri Lanka economic crisis: Indian officials hold talks on additional aid The nation is facing a serious shortage of foreign exchange and has barely any to finance even the most essential imports like food, fuel and medicines. To alleviate the situation the country had to resort to appealing for international handouts. As hundreds of thousands of drivers waited for hours for gasoline and diesel across the poor country, the minister apologised "for the delay and inconvenience." Also read | Sri Lanka limits forex possession by citizens to support diminishing reserves The 22 million-person South Asian nation would continue to experience challenges for a few more months, Prime Minister Ranil Wickremesinghe warned parliament on Wednesday. He also advised people to utilise fuel carefully. "Our economy has faced a complete collapse," Wickremesinghe said. "We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food." (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lanka fuel crisis worsens: Nation runs out of petrol and diesel

<p>Sri Lanka's Prime Minister Ranil Wickremesinghe declared on Monday that the country had run out of petrol amid the economic crisis sweeping the island nation.</p>

<p>The country has been hit by fuel and food shortages including high inflation as it struggles with a political crisis.&nbsp;</p>

<p>Wickremesinghe warned "next couple of months will be the most difficult ones of our lives" with protesters calling for President Gotabaya Rajapaksa's resignation.</p>

<p><strong>Sri Lanka's crisis</strong></p>

<p>The nation has been struggling economically since the pandemic began two years ago as foreign remittances dried up and tourists stopped visiting the island due to worldwide lockdowns.</p>

<p><a href="https://www.wionews.com/south-asia/sri-lanka-proposal-to-suspend-parliament-standing-orders-defeated-479787">Also Read:&nbsp;Proposal to suspend Parliament standing orders defeated&nbsp;</a></p>

<p>In the last one year&nbsp;the country has faced repeated power blackouts along with medicine shortages even as the government declared last month that it would be defaulting on its foreign debts.</p>

<p>Reports claim the government does not have dollars to finance oil imports even as&nbsp;the country has run out of essential drugs.</p>

<p><strong>Political division:</strong></p>

<p>After Prime Minister Mahinda Rajapaksa's resignation amid large scale protests, Wickremesinghe has struggled to form a "unity government".</p>

<p><strong>Watch:&nbsp;PM Ranil Wickremesinghe gives full picture of country's economic crisis</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sri-lankan-pm-ranil-wickremesinghe-gives-full-picture-of-countrys-economic-crisis-479715/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>The country crucially does not have a finance minister even as four ministers were sworn in last week. The prime minister has called for an "economic war cabinet".</p>

<p>Wickremesinghe took over the reins for the sixth time as prime minister. However, there has been little sign of peace with troops patrolling the streets as people stand in queue to gather essential supplies.</p>

<p>(With inputs from Agencies)</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p>&nbsp;
<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>
</p>


Sri Lanka's Prime Minister Ranil Wickremesinghe declared on Monday that the country had run out of petrol amid the economic crisis sweeping the island nation. The country has been hit by fuel and food shortages including high inflation as it struggles with a political crisis.

Sri Lanka's Prime Minister Ranil Wickremesinghe declared on Monday that the country had run out of petrol amid the economic crisis sweeping the island nation. The country has been hit by fuel and food shortages including high inflation as it struggles with a political crisis. Wickremesinghe warned "next couple of months will be the most difficult ones of our lives" with protesters calling for President Gotabaya Rajapaksa's resignation. Sri Lanka's crisis The nation has been struggling economically since the pandemic began two years ago as foreign remittances dried up and tourists stopped visiting the island due to worldwide lockdowns. Also Read: Proposal to suspend Parliament standing orders defeated In the last one year the country has faced repeated power blackouts along with medicine shortages even as the government declared last month that it would be defaulting on its foreign debts. Reports claim the government does not have dollars to finance oil imports even as the country has run out of essential drugs. Political division: After Prime Minister Mahinda Rajapaksa's resignation amid large scale protests, Wickremesinghe has struggled to form a "unity government". Watch: PM Ranil Wickremesinghe gives full picture of country's economic crisis The country crucially does not have a finance minister even as four ministers were sworn in last week. The prime minister has called for an "economic war cabinet". Wickremesinghe took over the reins for the sixth time as prime minister. However, there has been little sign of peace with troops patrolling the streets as people stand in queue to gather essential supplies. (With inputs from Agencies) WATCH WION LIVE HERE ×

Sri Lanka runs out of petrol: How the island nation lost the political & economic battle

<p>Sri Lanka was hit by a general strike on Thursday with the country grappling with an acute fuel crisis.</p>

<p>Protesters have been calling for President Gotabaya Rajapaksa's resignation as transport services were stopped during the strike.</p>

<p>Schools and offices remained closed as reports say President Rajapaksa is set to meet political party leaders in the country. The general strike was joined by trade unions while pressuring the top government heads to resign.</p>

<p><a href="https://www.wionews.com/south-asia/world-bank-agrees-to-provide-600-million-in-financial-assistance-to-sri-lanka-474087">Also Read:&nbsp;World Bank agrees to provide $600 million in financial assistance to Sri Lanka</a></p>

<p>Reports claim tea estates including vegetable markets were closed. Sri Lanka's economic woes began as the pandemic hit the country two years ago as foreign remittances dried up. The Lankan government had announced that it would be defaulting on foreign debts amounting to nearly $51 billion.</p>

<p>The country has struggled to pay for fuel imports even as power shortages have ravaged the country with reports claiming hospitals are short of vital medicines.</p>

<p><strong>Watch: Sri Lanka to sell 'Golden Visas' to revive economy</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sri-lanka-economic-crisis-island-nation-to-sell-golden-visas-to-revive-economy-474520/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>Earlier this week, Sri Lanka's stock exchange plunged nearly 13 per cent as trading was halted as the S&amp;P index fell seven per cent in opening trade.</p>

<p>(With inputs from Agencies)</p>

<p><strong>Watch WION LIVE Here</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Sri Lanka was hit by a general strike on Thursday with the country grappling with an acute fuel crisis. Protesters have been calling for President Gotabaya Rajapaksa's resignation as transport services were stopped during the strike.

Sri Lanka was hit by a general strike on Thursday with the country grappling with an acute fuel crisis. Protesters have been calling for President Gotabaya Rajapaksa's resignation as transport services were stopped during the strike. Schools and offices remained closed as reports say President Rajapaksa is set to meet political party leaders in the country. The general strike was joined by trade unions while pressuring the top government heads to resign. Also Read: World Bank agrees to provide $600 million in financial assistance to Sri Lanka Reports claim tea estates including vegetable markets were closed. Sri Lanka's economic woes began as the pandemic hit the country two years ago as foreign remittances dried up. The Lankan government had announced that it would be defaulting on foreign debts amounting to nearly $51 billion. The country has struggled to pay for fuel imports even as power shortages have ravaged the country with reports claiming hospitals are short of vital medicines. Watch: Sri Lanka to sell 'Golden Visas' to revive economy Earlier this week, Sri Lanka's stock exchange plunged nearly 13 per cent as trading was halted as the S&P index fell seven per cent in opening trade. (With inputs from Agencies) Watch WION LIVE Here

Sri Lanka crisis: Schools, offices remain shut during general strike

<p>Indian finance minister Nirmala Sitharaman has called on International Monetary Fund to "urgently provide financial assistance to" Sri Lanka even as Colombo is in talks with the multilateral financial intuition for a bailout.</p>

<p>The Sri Lankan economic crisis was a key part of the conversation between FM Sitharaman and IMF Managing Director Kristalina Georgieva on Monday in Washington DC. The Indian minister is in the American capital to take part in the International Monetary Fund-World Bank (IMF-WB) Spring meetings.</p>

<p>According to a release by the Indian finance ministry, FM Sitharaman "indicated that IMF should support and urgently provide financial assistance to Sri Lanka" to which IMF MD "assured the finance minister that the IMF would continue to actively engage with Sri Lanka."</p>

<p>During the meeting, "the IMF MD particularly referred&nbsp;to the help India has provided to Sri Lanka during their difficult economic crisis."</p>

<p>In the past three&nbsp;months, India has extended support worth about $2.5 billion to Sri Lanka. It includes two&nbsp;lines of credit- $500 million for fuel &amp; $1 billion for food, medicine and essential supplies including a&nbsp;credit swap of $400 million and deferment of Asian Clearing Union payment of over $ 515 million.</p>

<p>As part of the line of credit, diesel, petrol and rice have been sent to the country.</p>

<p>The development comes on a day when Indian and Sri Lankan finance ministers had held talks on the economic crisis faced by the country. &nbsp;</p>

<p>A Sri Lankan delegation led by Lankan finance minister Ali Sabry visited Washington and had met the Indian FM.</p>

<p>A tweet statement by the Indian ministry of finance said minister Sitharaman "assured Sri Lanka that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance to Sri Lanka."</p>

<p>Sri Lanka has been hit by a massive economic crisis with runaway inflation which has led to large scale protests in the country against the Rajapakse government. A new cabinet has taken charge in the country to combat the crisis.</p>

<p>Interestingly, the Sri Lankan High Commissioner to India Milinda Moragoda had met the Indian finance minister ahead of her visit to the US during which the economic crisis and Colombo negotiating a bailout with IMF was discussed.</p>

<p>The High Commissioner discussed how India can "assist Sri Lanka in garnering international support" to "secure bridging finance and for the economic adjustment programme" with&nbsp;Sitharaman.</p>


Indian finance minister Nirmala Sitharaman has called on International Monetary Fund to "urgently provide financial assistance to" Sri Lanka even as Colombo is in talks with the multilateral financial intuition for a bailout.

Indian finance minister Nirmala Sitharaman has called on International Monetary Fund to "urgently provide financial assistance to" Sri Lanka even as Colombo is in talks with the multilateral financial intuition for a bailout. The Sri Lankan economic crisis was a key part of the conversation between FM Sitharaman and IMF Managing Director Kristalina Georgieva on Monday in Washington DC. The Indian minister is in the American capital to take part in the International Monetary Fund-World Bank (IMF-WB) Spring meetings. According to a release by the Indian finance ministry, FM Sitharaman "indicated that IMF should support and urgently provide financial assistance to Sri Lanka" to which IMF MD "assured the finance minister that the IMF would continue to actively engage with Sri Lanka." During the meeting, "the IMF MD particularly referred to the help India has provided to Sri Lanka during their difficult economic crisis." In the past three months, India has extended support worth about $2.5 billion to Sri Lanka. It includes two lines of credit- $500 million for fuel & $1 billion for food, medicine and essential supplies including a credit swap of $400 million and deferment of Asian Clearing Union payment of over $ 515 million. As part of the line of credit, diesel, petrol and rice have been sent to the country. The development comes on a day when Indian and Sri Lankan finance ministers had held talks on the economic crisis faced by the country. A Sri Lankan delegation led by Lankan finance minister Ali Sabry visited Washington and had met the Indian FM. A tweet statement by the Indian ministry of finance said minister Sitharaman "assured Sri Lanka that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance to Sri Lanka." Sri Lanka has been hit by a massive economic crisis with runaway inflation which has led to large scale protests in the country against the Rajapakse government. A new cabinet has taken charge in the country to combat the crisis. Interestingly, the Sri Lankan High Commissioner to India Milinda Moragoda had met the Indian finance minister ahead of her visit to the US during which the economic crisis and Colombo negotiating a bailout with IMF was discussed. The High Commissioner discussed how India can "assist Sri Lanka in garnering international support" to "secure bridging finance and for the economic adjustment programme" with Sitharaman.

India urges IMF to provide urgent bailout to Sri Lanka

<p>Sri Lanka on Friday limited the fuel supply for motorists with immediate effect as low foreign reserves continued to cripple the island nation from importing several essential items.</p>

<p>According to the state-owned Ceylon Petroleum Corporation (CPC), people with two-wheelers will be allowed to buy petrol for a maximum of 1,000 Sri Lankan rupees (US$3), per visit.</p>

<p>While three-wheelers will be able to get 1,500 Sri Lankan rupees worth of fuel (petrol or diesel) and cars, vans, and jeeps for up to 5,000 Sri Lankan rupees.</p>

<p>However, these limits would not be applicable to buses, lorries and other commercial vehicles.</p>

<p>Meanwhile, serpentine queues were witnessed outside several fuel retail outlets in Ceylon. Many people complained of having to wait for hours to get petrol only to be returned empty-handed.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Queue for petrol has come to our doorstep now,a side road winding the station on main road;they’re sitting in their 3-wheelers waiting for bowsers to come;queue already 1km long is being joined by new vehicles every minute:not sure when they could fill tanks: <a href="https://t.co/1LIY8nyLP5">pic.twitter.com/1LIY8nyLP5</a></p>
— W A Wijewardena (@waw1949) <a href="https://twitter.com/waw1949/status/1514872829187031040?ref_src=twsrc%5Etfw">April 15, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Meanwhile, Chairman of state-owned Litro Gas, Theshara Jayasinghe tendered his resignation to President Gotabaya Rajapaksa.</p>

<p>Citing multiple reasons, such as the gas crisis and the present state of affairs as well as his personal policies, Theshara Jayasinghe said he decided to step down with effect from April 14, 2022.</p>

<p>Since February, Sri Lanka has been facing fuel scarcity after the government ran out of dollars to import fuel.</p>

<p>The shortage had forced the government to impose extended power cuts, sometimes up to 13 hours per day.</p>

<p>Tensions over the scarcity of supplies have led to sporadic violence among those scrambling to buy fuel and other essential items.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/south-asia/power-to-the-people-rap-song-featuring-wions-report-on-sri-lanka-economic-crisis-goes-viral-468843">'Power to the people': Rap song featuring WION's report on Sri Lanka economic crisis goes viral</a></p>

<p>The rapid drain of Sri Lanka’s dollars has left it struggling to pay for critical imports as currency reserves have slumped 70 per cent in the last two years to $2.31 billion.</p>

<p>The move to impose fuel rationing system comes three days after Sri Lanka announced a pre-emptive default on all its foreign loans due to insufficient reserves.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/south-asia/exclusive-former-minister-calls-sri-lankas-current-situation-chaos-says-govt-trying-to-hold-on-to-power-469337">Sri Lanka crisis: Govt trying to hold on to power, cricket icon Arjuna Ranatunga tells WION</a></p>

<p>Finance Minister Ali Sabry, ministry officials and Central Bank officials are expected to begin talks with the International Monetary Fund on Monday for a loan to manage the balance of payment crisis.</p>

<p><strong>Watch |&nbsp;Gravitas Global Headlines: Sri Lanka running out of life-saving medicines</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-global-headlines-sri-lanka-running-out-of-life-saving-medicines-470352/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>


Sri Lanka on Friday limited the fuel supply for motorists with immediate effect as low foreign reserves continued to cripple the island nation from importing several essential items.

Sri Lanka on Friday limited the fuel supply for motorists with immediate effect as low foreign reserves continued to cripple the island nation from importing several essential items. According to the state-owned Ceylon Petroleum Corporation (CPC), people with two-wheelers will be allowed to buy petrol for a maximum of 1,000 Sri Lankan rupees (US$3), per visit. While three-wheelers will be able to get 1,500 Sri Lankan rupees worth of fuel (petrol or diesel) and cars, vans, and jeeps for up to 5,000 Sri Lankan rupees. However, these limits would not be applicable to buses, lorries and other commercial vehicles. Meanwhile, serpentine queues were witnessed outside several fuel retail outlets in Ceylon. Many people complained of having to wait for hours to get petrol only to be returned empty-handed. Queue for petrol has come to our doorstep now,a side road winding the station on main road;they’re sitting in their 3-wheelers waiting for bowsers to come;queue already 1km long is being joined by new vehicles every minute:not sure when they could fill tanks: pic.twitter.com/1LIY8nyLP5 — W A Wijewardena (@waw1949) April 15, 2022 × Meanwhile, Chairman of state-owned Litro Gas, Theshara Jayasinghe tendered his resignation to President Gotabaya Rajapaksa. Citing multiple reasons, such as the gas crisis and the present state of affairs as well as his personal policies, Theshara Jayasinghe said he decided to step down with effect from April 14, 2022. Since February, Sri Lanka has been facing fuel scarcity after the government ran out of dollars to import fuel. The shortage had forced the government to impose extended power cuts, sometimes up to 13 hours per day. Tensions over the scarcity of supplies have led to sporadic violence among those scrambling to buy fuel and other essential items. Also read | 'Power to the people': Rap song featuring WION's report on Sri Lanka economic crisis goes viral The rapid drain of Sri Lanka’s dollars has left it struggling to pay for critical imports as currency reserves have slumped 70 per cent in the last two years to $2.31 billion. The move to impose fuel rationing system comes three days after Sri Lanka announced a pre-emptive default on all its foreign loans due to insufficient reserves. Also read | Sri Lanka crisis: Govt trying to hold on to power, cricket icon Arjuna Ranatunga tells WION Finance Minister Ali Sabry, ministry officials and Central Bank officials are expected to begin talks with the International Monetary Fund on Monday for a loan to manage the balance of payment crisis. Watch | Gravitas Global Headlines: Sri Lanka running out of life-saving medicines

Sri Lanka limits supply of petrol, diesel to tackle fuel crisis

<p data-changed="false" data-paragraphid="58">A Sri Lankan rap song, featuring WION's report on the debt-ridden island nation's worst economic crisis since independence, is going viral on the internet.</p>

<p data-changed="false" data-paragraphid="59">The song, which begins with a voiceover from a Gravitas report by WION's Executive Editor, Palki Sharma Upadhyay, has already racked up over 160,000 views in only one day.&nbsp;</p>

<p data-changed="false" data-paragraphid="60">The song has gone viral in a big way, and the lyrics are spot on with the debt-ridden country's present situation. The title of the song is <strong>"Power To The People."</strong></p>

<p data-changed="false" data-paragraphid="60"><a href="https://www.wionews.com/south-asia/sri-lankan-rupee-is-now-the-worlds-worst-performing-currency-468828"><strong>Also read | Sri Lankan rupee is now the world’s worst-performing currency</strong></a></p>

<p data-changed="false" data-from-init="true" data-paragraphid="61">The song was written and sung by the Los Angeles-based Sri Lankan rapper Jay Princce.</p>

<p data-changed="false" data-paragraphid="62">Here are the lyrics:</p>

<p data-changed="false" data-paragraphid="63"><strong><em>"Power to the people overcoming all this evil"</em></strong></p>

<p data-changed="false" data-paragraphid="64"><strong><em>"Corruption had its limit ima the thread the f****** needle"</em></strong></p>

<p data-changed="false" data-paragraphid="65"><strong><em>"How they moving crooked dawg is this not illegal"</em></strong></p>

<p data-changed="false" data-paragraphid="66"><strong><em>"Ima hold it down cuz this here for my people"</em></strong></p>

<p data-changed="false" data-paragraphid="67"><strong><em>"It is not a debate"</em></strong></p>

<p data-changed="false" data-paragraphid="68"><strong><em>"Aint no food all on they plate"</em></strong></p>

<p data-changed="false" data-paragraphid="69"><strong><em>"power cuts and no gas"</em></strong></p>

<p data-changed="false" data-paragraphid="70"><strong><em>"really no one left to pay"</em></strong></p>

<p data-changed="false" data-paragraphid="71"><strong><em>"but printed heavy cash"</em></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/tv/Cb1skwNFbH1/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14" style=" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:16px;">
<div style=" display: flex; flex-direction: row; align-items: center;">
<div style="background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;">&nbsp;</div>

<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;">
<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;">&nbsp;</div>

<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;">&nbsp;</div>
</div>
</div>

<div style="padding: 19% 0;">&nbsp;</div>

<div style="display:block; height:50px; margin:0 auto 12px; width:50px;"><a href="https://www.instagram.com/tv/Cb1skwNFbH1/?utm_source=ig_embed&amp;utm_campaign=loading" style=" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;" target="_blank"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g fill="none" fill-rule="evenodd" stroke="none" stroke-width="1"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></a></div>

<div style="padding-top: 8px;">
<div style=" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;"><a href="https://www.instagram.com/tv/Cb1skwNFbH1/?utm_source=ig_embed&amp;utm_campaign=loading" style=" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;" target="_blank">View this post on Instagram</a></div>
</div>

<div style="padding: 12.5% 0;">&nbsp;</div>

<div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;">
<div>
<div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);">&nbsp;</div>

<div style="background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;">&nbsp;</div>

<div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);">&nbsp;</div>
</div>

<div style="margin-left: 8px;">
<div style=" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;">&nbsp;</div>

<div style=" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)">&nbsp;</div>
</div>

<div style="margin-left: auto;">
<div style=" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);">&nbsp;</div>

<div style=" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);">&nbsp;</div>

<div style=" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);">&nbsp;</div>
</div>
</div>

<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;">
<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;">&nbsp;</div>

<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;">&nbsp;</div>
</div>

<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/tv/Cb1skwNFbH1/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Jay Princce (@salutevadha)</a></p>
</div>
</blockquote>
<script async src="//www.instagram.com/embed.js"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Sri Lanka has been roiled by violent protests for the past week, as public outrage over the government's handling of the island's economic crisis has spilled into the streets.Much has happened since then.</p>

<p data-changed="false" data-paragraphid="73">Many protestors disobeyed President Gotabaya Rajapaksa's 36-hour curfew.</p>

<p data-changed="false" data-paragraphid="74">He subsequently declared a state of emergency, which was widely condemned by the public and opposition MPs until being repealed by the President earlier today.</p>

<p data-changed="false" data-paragraphid="75">According to critics, the foundation of the crisis, which is the worst in decades, is economic mismanagement by successive governments, which established and maintained a dual deficit - a budget deficit as well as a current account deficit.&nbsp;</p>

<p data-changed="false" data-paragraphid="76">Foreign exchange reserves have plummeted by 70% in the last two years, to just $2.31 billion in February, leaving Sri Lanka unable to import basic necessities such as food and fuel.&nbsp;</p>

<p data-changed="false" data-paragraphid="77"><em>(With inputs from agencies)</em></p>


A Sri Lankan rap song, featuring WION's report on the debt-ridden island nation's worst economic crisis since independence, is going viral on the internet. The song, which begins with a voiceover from a Gravitas report by WION's Executive Editor, Palki Sharma Upadhyay, has already racked up over 160,000 views in only one day.

A Sri Lankan rap song, featuring WION's report on the debt-ridden island nation's worst economic crisis since independence, is going viral on the internet. The song, which begins with a voiceover from a Gravitas report by WION's Executive Editor, Palki Sharma Upadhyay, has already racked up over 160,000 views in only one day. The song has gone viral in a big way, and the lyrics are spot on with the debt-ridden country's present situation. The title of the song is "Power To The People." Also read | Sri Lankan rupee is now the world’s worst-performing currency The song was written and sung by the Los Angeles-based Sri Lankan rapper Jay Princce. Here are the lyrics: "Power to the people overcoming all this evil" "Corruption had its limit ima the thread the f****** needle" "How they moving crooked dawg is this not illegal" "Ima hold it down cuz this here for my people" "It is not a debate" "Aint no food all on they plate" "power cuts and no gas" "really no one left to pay" "but printed heavy cash" View this post on Instagram A post shared by Jay Princce (@salutevadha) × Sri Lanka has been roiled by violent protests for the past week, as public outrage over the government's handling of the island's economic crisis has spilled into the streets.Much has happened since then. Many protestors disobeyed President Gotabaya Rajapaksa's 36-hour curfew. He subsequently declared a state of emergency, which was widely condemned by the public and opposition MPs until being repealed by the President earlier today. According to critics, the foundation of the crisis, which is the worst in decades, is economic mismanagement by successive governments, which established and maintained a dual deficit - a budget deficit as well as a current account deficit. Foreign exchange reserves have plummeted by 70% in the last two years, to just $2.31 billion in February, leaving Sri Lanka unable to import basic necessities such as food and fuel. (With inputs from agencies)

'Power to the people': Rap song featuring WION's report on Sri Lanka economic crisis goes viral

<p>Sri Lanka's rupee has plummeted to a historic low, making it the world's poorest-performing currency, adding to the country's greatest economic crisis since independence in 1948.</p>

<p>"After Rajapaksa ended emergency rule mere days after it was established, the Sri Lankan rupee hovered near Sri Lankan Rupee 302.04 per US dollar on Wednesday, trailing even Russia's rouble." According to the Financial Times.&nbsp;</p>

<p>Last Monday, the 22-million-strong island nation's diesel supply ran out, causing a massive power outage.</p>

<p>The economic crisis brought on by a low foreign exchange reserve has spurred anti-government protests around the country, some of which have become violent.&nbsp;</p>

<p>Sri Lanka has been roiled by violent protests for the past week, as public outrage over the government's handling of the island's economic crisis has spilled into the streets.Much has happened since then.</p>

<p>Many protestors disobeyed President Gotabaya Rajapaksa's 36-hour curfew.He subsequently declared a state of emergency, which was widely condemned by the public and opposition MPs until being repealed by the President earlier today.</p>

<p><a href="https://www.wionews.com/south-asia/rice-from-india-to-arrive-in-the-country-soon-says-indian-envoy-to-sri-lanka-gopal-baglay-468358">Also Read:&nbsp;Rice from India to arrive in the country soon,' says Indian envoy to Sri Lanka</a>&nbsp;</p>

<p>According to critics, the foundation of the crisis, which is the worst in decades, is economic mismanagement by successive governments, which established and maintained a dual deficit—a budget deficit as well as a current account deficit.&nbsp;</p>

<p><a href="https://www.wionews.com/south-asia/sri-lankan-medical-body-declares-health-emergency-amid-political-turmoil-report-468449">Also Read|&nbsp;Sri Lankan medical body declares health emergency amid political turmoil: Report</a></p>

<p>Sri Lanka's foreign exchange reserves have plummeted by 70% in the last two years, to just $2.31 billion in February, leaving Sri Lanka unable to import basic necessities such as food and fuel.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>


Sri Lanka's rupee has plummeted to a historic low, making it the world's poorest-performing currency, adding to the country's greatest economic crisis since independence in 1948.

Sri Lanka's rupee has plummeted to a historic low, making it the world's poorest-performing currency, adding to the country's greatest economic crisis since independence in 1948. "After Rajapaksa ended emergency rule mere days after it was established, the Sri Lankan rupee hovered near Sri Lankan Rupee 302.04 per US dollar on Wednesday, trailing even Russia's rouble." According to the Financial Times. Last Monday, the 22-million-strong island nation's diesel supply ran out, causing a massive power outage. The economic crisis brought on by a low foreign exchange reserve has spurred anti-government protests around the country, some of which have become violent. Sri Lanka has been roiled by violent protests for the past week, as public outrage over the government's handling of the island's economic crisis has spilled into the streets.Much has happened since then. Many protestors disobeyed President Gotabaya Rajapaksa's 36-hour curfew.He subsequently declared a state of emergency, which was widely condemned by the public and opposition MPs until being repealed by the President earlier today. Also Read: Rice from India to arrive in the country soon,' says Indian envoy to Sri Lanka According to critics, the foundation of the crisis, which is the worst in decades, is economic mismanagement by successive governments, which established and maintained a dual deficit—a budget deficit as well as a current account deficit. Also Read| Sri Lankan medical body declares health emergency amid political turmoil: Report Sri Lanka's foreign exchange reserves have plummeted by 70% in the last two years, to just $2.31 billion in February, leaving Sri Lanka unable to import basic necessities such as food and fuel. (With inputs from agencies)

Sri Lankan rupee is now the world’s worst-performing currency

<p>Sri Lanka's newly appointed finance minister MUM Ali Sabry quit his post in just one day amid escalating political situation in the country.</p>

<p>In a letter to President Gotabaya Rajapaksa, Sabry said he had decided to take up the post of finance minister as an "interim measure" until a "suitable, full-time and sustainable solution could be found".</p>

<p><a href="https://www.wionews.com/south-asia/sri-lankan-medical-body-declares-health-emergency-amid-political-turmoil-report-468449">Also Read|&nbsp;Sri Lankan medical body declares health emergency amid political turmoil: Report</a></p>

<p>The former justice minister said "fresh and proactive" steps need to be taken in order to navigate the present "unprecedented crisis".</p>

<p>Sabry put in his papers leaving the finance ministry post with "immediate effect". Sabri also mentioned that he was ready to step down from his Parliamentary seat if the president intended to appoint a person from outside the current Parliament.</p>

<p>Rajapaksa's cabinet was thrown into turmoil after all ministers resigned over the weekend amid anti-government demonstrations. The country's economy has been hit by rising fuel prices and inflation with its foreign reserves at an all-time low as the country has struggled to service its rising foreign debt.</p>

<p><strong>Watch:&nbsp;Sri Lankan Parliament reconvenes amid calls for Rajapaksa to step down</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sri-lankan-parliament-reconvenes-amid-calls-for-rajapaksa-to-step-down-468465/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>The International Monetary Fund (IMF) said it was monitoring Sri Lanka's situation amid reports of a bailout even as President Rajapaksa called all opposition parties to come together to form a unity government. However, opposition leaders rejected the move as protests escalated against the government.</p>

<p><a href="https://www.wionews.com/south-asia/rice-from-india-to-arrive-in-the-country-soon-says-indian-envoy-to-sri-lanka-gopal-baglay-468358">Also Read:&nbsp;Rice from India to arrive in the country soon,' says Indian envoy to Sri Lanka</a>&nbsp;</p>

<p>Rajapaksa's government was thrown into further trouble as 41 lawmakers walked out of the coalition as the government lost its majority in Parliament on Tuesday.</p>

<p>Sri Lanka's parliament is set to reconvene just days after President Gotabaya Rajapaksa declared a state of emergency in the country to combat the economic situation as protesters came out on the streets despite a nationwide curfew.</p>

<p>(With inputs from Agencies)</p>


Sri Lanka's newly appointed finance minister MUM Ali Sabry quit his post in just one day amid escalating political situation in the country. In a letter to President Gotabaya Rajapaksa, Sabry said he had decided to take up the post of finance minister as an "interim measure" until a "suitable, full-time and sustainable solution could be found".

Sri Lanka's newly appointed finance minister MUM Ali Sabry quit his post in just one day amid escalating political situation in the country. In a letter to President Gotabaya Rajapaksa, Sabry said he had decided to take up the post of finance minister as an "interim measure" until a "suitable, full-time and sustainable solution could be found". Also Read| Sri Lankan medical body declares health emergency amid political turmoil: Report The former justice minister said "fresh and proactive" steps need to be taken in order to navigate the present "unprecedented crisis". Sabry put in his papers leaving the finance ministry post with "immediate effect". Sabri also mentioned that he was ready to step down from his Parliamentary seat if the president intended to appoint a person from outside the current Parliament. Rajapaksa's cabinet was thrown into turmoil after all ministers resigned over the weekend amid anti-government demonstrations. The country's economy has been hit by rising fuel prices and inflation with its foreign reserves at an all-time low as the country has struggled to service its rising foreign debt. Watch: Sri Lankan Parliament reconvenes amid calls for Rajapaksa to step down The International Monetary Fund (IMF) said it was monitoring Sri Lanka's situation amid reports of a bailout even as President Rajapaksa called all opposition parties to come together to form a unity government. However, opposition leaders rejected the move as protests escalated against the government. Also Read: Rice from India to arrive in the country soon,' says Indian envoy to Sri Lanka Rajapaksa's government was thrown into further trouble as 41 lawmakers walked out of the coalition as the government lost its majority in Parliament on Tuesday. Sri Lanka's parliament is set to reconvene just days after President Gotabaya Rajapaksa declared a state of emergency in the country to combat the economic situation as protesters came out on the streets despite a nationwide curfew. (With inputs from Agencies)

Sri Lanka's newly-appointed finance minister quits after just one day

<p>As the Sri Lankan government sought a bailout from the International Monetary Fund (IMF), the Rajapaksa government confirmed that India will provide $1 billion line of credit facility to the country.</p>

<p>India's credit facility would be used for food, medicine and other essential items, the Lankan government said. India had earlier extended 500 million credit to purchase petroleum products as the country grapples with harsh economic condictions.</p>

<p>Reports claim finance minister Basil Rajapaksha is expected to meet his Indian counterpart Nirmala Sitharaman. The Sri Lankan finance minister had met Prime Minister Narendra Modi and foreign minister S Jaishankar on Wednesday.</p>

<p><strong>Watch:&nbsp;India extends $1 billion line of credit to Sri Lanka</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-india-extends-1-billion-line-of-credit-to-sri-lanka-463273/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>Ratings Agency Fitch and Moody's had&nbsp;downgraded the country due to delays in obtaining new funds.</p>

<p>Indian foreign affairs minister S Jaishankar had said: "India stands with Sri Lanka, adding,"$1 billion credit line signed for supply of essential commodities." &nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Neighborhood first. India stands with Sri Lanka.<br />
<br />
US$ 1 billion credit line signed for supply of essential commodities.<br />
<br />
Key element of the package of support extended by India. <a href="https://t.co/Fbzu5WFE3n">pic.twitter.com/Fbzu5WFE3n</a></p>
— Dr. S. Jaishankar (@DrSJaishankar) <a href="https://twitter.com/DrSJaishankar/status/1504407454746308614?ref_src=twsrc%5Etfw">March 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>IMF spokesman Gerry Rice had said earlier that it could "assist Sri Lanka going forward". Sri Lanka had earlier urged China for debt payment but it hasn't come through as yet.</p>

<p><a href="https://www.wionews.com/south-asia/sri-lankas-central-bank-assures-countrys-currency-to-stabilize-soon-461651">Also Read: Sri Lanka's central bank assures country's currency to stabilise soon</a></p>

<p>Sri Lanka has been hit by rising fuel prices including power shortages as it struggles to service its foreign debt. There have been large scale protests against the government over the economic crisis sweeping the country with the opposition party spearheading the anti-government demonstrations.</p>

<p>The country has also been hit by high inflation and food crisis even as its robust tourism industry has been hit by the coronavirus crisis.</p>

<p>The Lankan government had imposed a fertiliser ban in May last year to turn the nation's agriculture sector into hundred per cent organic, however, it led to a decline in crop production and an increase in food prices.</p>

<p>(With inputs from Agencies)</p>


As the Sri Lankan government sought a bailout from the International Monetary Fund (IMF), the Rajapaksa government confirmed that India will provide $1 billion line of credit facility to the country.

As the Sri Lankan government sought a bailout from the International Monetary Fund (IMF), the Rajapaksa government confirmed that India will provide $1 billion line of credit facility to the country. India's credit facility would be used for food, medicine and other essential items, the Lankan government said. India had earlier extended 500 million credit to purchase petroleum products as the country grapples with harsh economic condictions. Reports claim finance minister Basil Rajapaksha is expected to meet his Indian counterpart Nirmala Sitharaman. The Sri Lankan finance minister had met Prime Minister Narendra Modi and foreign minister S Jaishankar on Wednesday. Watch: India extends $1 billion line of credit to Sri Lanka Ratings Agency Fitch and Moody's had downgraded the country due to delays in obtaining new funds. Indian foreign affairs minister S Jaishankar had said: "India stands with Sri Lanka, adding,"$1 billion credit line signed for supply of essential commodities." Neighborhood first. India stands with Sri Lanka. US$ 1 billion credit line signed for supply of essential commodities. Key element of the package of support extended by India. pic.twitter.com/Fbzu5WFE3n — Dr. S. Jaishankar (@DrSJaishankar) March 17, 2022 × IMF spokesman Gerry Rice had said earlier that it could "assist Sri Lanka going forward". Sri Lanka had earlier urged China for debt payment but it hasn't come through as yet. Also Read: Sri Lanka's central bank assures country's currency to stabilise soon Sri Lanka has been hit by rising fuel prices including power shortages as it struggles to service its foreign debt. There have been large scale protests against the government over the economic crisis sweeping the country with the opposition party spearheading the anti-government demonstrations. The country has also been hit by high inflation and food crisis even as its robust tourism industry has been hit by the coronavirus crisis. The Lankan government had imposed a fertiliser ban in May last year to turn the nation's agriculture sector into hundred per cent organic, however, it led to a decline in crop production and an increase in food prices. (With inputs from Agencies)

India to extend $1 billion credit line to Sri Lanka amid economic crisis