Sri Lanka is negotiating a $1.5bn yuan denominated swap deal with China as part of desperate attempts to keep the economy afloat, with an estimated $5bn needed over the next 6 months just to maintain basic living standards.
Prime Minister Ranil Wickremesinghe’s announcement Tuesday revealed $3.3bn is needed for fuel imports, $900mn for food, $600mn for fertilizer and $250mn for cooking gas.
The country is discussing a $3bn rescue package from the IMF amidst fears the economy could contract by 3.5% this year, while the UN has pledged $48mn in food, agriculture & health relief.
I hope they don’t ask anything to the IMF, fucking parasites, best outcome would be a revolution, but I see that as pretty hard although one never knows. Hope other Asian/South Asian countries help them.
