Sri Lanka Needs $5bn To Survive Next Six Months - PM Wickremesinghe

Sri Lanka is negotiating a $1.5bn yuan denominated swap deal with China as part of desperate attempts to keep the economy afloat, with an estimated $5bn needed over the next 6 months just to maintain basic living standards.

Prime Minister Ranil Wickremesinghe’s announcement Tuesday revealed $3.3bn is needed for fuel imports, $900mn for food, $600mn for fertilizer and $250mn for cooking gas.

The country is discussing a $3bn rescue package from the IMF amidst fears the economy could contract by 3.5% this year, while the UN has pledged $48mn in food, agriculture & health relief.