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No response yet received from India regarding the requested loan

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It is reported that Sri Lanka has not yet received a successful response regarding the loan requested from India for fuel imports.

Sri Lanka had earlier asked for another $ 500 million loan, but no final agreement has been reached. The loan was planned to be used exclusively for fuel imports.

Failure to reach a final agreement on $ 500 million risks a complete shutdown of fuel imports.

The loan amount is sufficient for the import of fuel for 4 months and accordingly, in the next few months, Sri Lanka will have to look at other options for fuel import. However, so far there is no successful alternative.

It has been proposed to grant leave to public servants and schools for a period of two weeks as a temporary solution to the fuel problem and the final decision on that was to be taken today.

Source

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