in

Sri Lanka signs $1 billion credit line with India

“India stands with Sri Lanka,” Indian Foreign Minister S. Jaishankar said in a tweet.

Sri Lanka’s foreign exchange reserves have fallen 70% in the past two years to about $2.31 billion, leaving it struggling to pay for imports.

The country will work with the International Monetary Fund (IMF) to find a way out of the crisis, President Gotabaya Rajapaksa said on Wednesday.


Source: Economy - investing.com

Economic impact of war in Ukraine could go from bad to worse

Web3 will be key to the future of China's internet, says security regulator