COLOMBO, Jul 29 — The World Bank said today it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out 'deep structural reforms' to stabilise its...
COLOMBO, Jul 29 — The World Bank said today it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out"deep structural reforms" to stabilise its crashing economy.
The World Bank said it was concerned about the impact of the crisis on Sri Lanka's people but was not ready to give funds until the government had bedded down necessary reforms. The World Bank said it had already diverted US$160 million from existing loans to finance urgently needed medicines, cooking gas and school meals.
Motorists stay in long queues for days to get rationed petrol and government officials have been told to work from home to reduce commuting and save fuel.
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