Colombo: Sri LankaThe Central Bank of India has secured foreign exchange for payment of fuel and LPG shipments. Rest Crippled, its governor said on Thursday, but police fired tear gas and water cannons to push back student protesters. Most of Sri Lanka’s petrol stations have dried up as the island nation grapples with its most devastating economic crisis since independence in 1948. At a few pumps in the commercial capital Colombo, dozens of people stood in lines holding plastic jerry cans as soldiers in combat gear. and patrolled the streets armed with assault rifles. Traffic was very light.
Residents said most people were staying at home due to lack of transport. Hundreds of students carrying black flags took out a march in the Central Fort area of Colombo and raised slogans against the government. According to a Reuters eyewitness, police repeatedly fired tear gas and water cannons to push them back.
Central Bank Governor P. Nandlal Veersinghe Sufficient dollars had been released to pay for the fuel and cooking gas shipments, which were used in part of $130 million, he told a press conference. world Bank and remittances from Sri Lankans working abroad. He was speaking after the central bank kept interest rates stable at a policy meeting, citing a massive 7 per cent hike in April that it was working its way through the system. Weerasinghe said the country was more stable politically and economically.
Sri Lanka also officially now defaulted on its sovereign debt as a so-called grace period ended some previously overdue bond interest payments on Wednesday. Weerasinghe said, “We are in a pre-impact default. “We expect to be able to reach an agreement with our creditors in about six months. Our position is very clear, we cannot repay unless the debt is restructured.”
Residents said most people were staying at home due to lack of transport. Hundreds of students carrying black flags took out a march in the Central Fort area of Colombo and raised slogans against the government. According to a Reuters eyewitness, police repeatedly fired tear gas and water cannons to push them back.
Central Bank Governor P. Nandlal Veersinghe Sufficient dollars had been released to pay for the fuel and cooking gas shipments, which were used in part of $130 million, he told a press conference. world Bank and remittances from Sri Lankans working abroad. He was speaking after the central bank kept interest rates stable at a policy meeting, citing a massive 7 per cent hike in April that it was working its way through the system. Weerasinghe said the country was more stable politically and economically.
Sri Lanka also officially now defaulted on its sovereign debt as a so-called grace period ended some previously overdue bond interest payments on Wednesday. Weerasinghe said, “We are in a pre-impact default. “We expect to be able to reach an agreement with our creditors in about six months. Our position is very clear, we cannot repay unless the debt is restructured.”