Published 1 year ago

World Bank rules out bridge financing to crisis-hit Sri Lanka

Summary by Ground News

Sri Lanka is near bankruptcy and has severe shortages of essentials. The crisis has already forced prime minister Mahinda Rajapaksa, the elder brother of the president, to resign. Sri Lanka has suspended repayment of about $7 billion in foreign loans due this year out of 25 billion to be repaid by 2026.

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The Hindu

World Bank rules out bridge financing to crisis-hit Sri Lanka

Sri Lanka is near bankruptcy and has severe shortages of essentials from food, fuel, medicines and cooking gas to toilet paper and matchsticks

1 year ago·India

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Deccan Herald

World Bank rules out bridge financing to crisis-hit Sri Lanka

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said. The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to overcome the financial crisis in the form of a bridge loan or new loan commitments.

1 year ago

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Firstpost News

World Bank rules out bridge financing or new loan commitments to crisis-hit Sri Lanka

The World Bank said that they are reshuffling the already allocated resources to provide essential medicines and other cash assistance to the vulnerable

1 year ago·Mumbai, India

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World Bank Rules Out Bridge Financing To Crisis-Hit Sri Lanka

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation’s economy sets up an adequate macroeconomic policy framework, the global lender has said.The statement by the World Bank came on Tuesday following reports that the Washington-based institution was planning to support Sri Lanka to overcome the financial crisis in the form of a bridge loan or new loan commitments.However, the bank …

1 year ago

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