People wait in a queue to buy kerosene at a fuel station, amid the country’s economic crisis in Colombo, Sri Lanka, May 18, 2022. REUTERSPIX: Sri Lanka, suffering a critical fuel shortage, needs US$554 million for its June energy imports and is in talks with India for a new credit line.
“Total requirement for June imports will be US$554 million. US$100 million will be facilitated through the existing Indian credit line,“ he said in a social media post.Sri Lanka, in the midst of its unprecedented economic crisis, has received Indian financial support in the form of flexible loans. The meeting “explored the possibility of increasing and restructuring the assistance provided by India in the form of credits for essential commodities and fuel as well as balance of payment support,“ the Sri Lankan diplomatic mission in New Delhi said in a statement.An IMF team led by Peter Breuer and Masahiro Nozaki last week concluded a virtual mission with the Sri Lankan authorities.
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