Forex Crisis in Sri Lanka: India grants financial assistance of over $900 million – India has decided to provide a $900 million loan to Sri Lanka amid a shortage of almost all essential commodities. a $900 million loan amount will help in building up its depleted foreign reserves and for food imports.
- At present, Sri Lanka is facing a shortage of almost all essentials due to a shortage of dollars to pay for the imports.
- The country is not able to obtain fuel to run turbines and imposing power cuts at peak hours and The only refinery was shut due to not paying dollars for crude imports.
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