Sri Lankan leader seeks IMF help as economic crisis deepens

By KRISHAN FRANCIS
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president says his government is in discussions with the International Monetary Fund, other agencies and countries on deferring loan repayments. He also requested people’s support by limiting electricity and fuel consumption to cope with the worst economic crisis in memory. In his televised address, President Gotabaya Rajapaksa asked the nation not to be discouraged and have faith in his steps to salvage the situation. His appeal comes amid widespread public anger at the severe shortages of essential goods including medicine, cooking gas, fuel and daily power cuts. His government’s decision to deal with the IMF marks a policy shift after it had resisted calls to seek the agency’s help. Sri Lanka’s usable foreign reserves are said to be less that $400 million.