Sri Lanka Seeks US$ 500 Million Emergency Loan from India

According to Lankadeepa Newspaper, the government has decided to seek an emergency loan of US$ 500 million from India in order to import petroleum, which has become a major issue.

According to a senior government minister, top government leaders have already began conversations with the Indian government on the subject.

The Petroleum Corporation is in a dilemma owing to a lack of foreign reserves, and it is apparently having trouble obtaining the requisite number of US dollars to import fuel.

Due to a shortage of dollars for crude oil imports, the Sapugaskanda oil refinery was shut down last week, and no timetable for its resumption has been set.

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