Motorbikes, cars and three-wheelers wait in a queue to buy petrol due to fuel shortage, during the country's economic crisis, in Colombo, Sri Lanka, June 29, 2022.
VOA/Reuters: Minister: Sri Lanka Struggling to Pay for Fuel Shipments
Colombo — Sri Lanka is struggling to raise $587 million to pay for about half a dozen fuel shipments, a top minister said Sunday as the cash-strapped country tries to cope with its worst financial crisis in decades.
The country of 22 million people is unable to pay for essential imports of food items, fertilizer, medicines and fuel — due to a severe dollar crunch.
Power and Energy Minister Kanchana Wijesekera said new fuel shipments were being lined up, but the country is struggling to raise enough funds to pay as the central bank can supply only about $125 million.
Sri Lanka only has 12,774 tons of diesel and 4,061 tons of petrol left in its government reserves, he told reporters in Colombo, the commercial center of the island nation.
Read more ....
Update #1: With no fuel and no cash, Sri Lanka keeps schools closed (AP)
Update #2: Sri Lanka grinds to a halt as fuel reserves shrink (France 24)
WNU Editor: Sri Lanka's economic crisis continues to get worse .... Bankrupt Sri Lanka's inflation jumps beyond 50% (CNA/AFP).
No comments:
Post a Comment