Demonstrators shout slogans against Sri Lanka's President Gotabaya Rajapaksa, near the Presidential Secretariat, amid the country's economic crisis, in Colombo, Sri Lanka, April 23, 2022. The United Nations is set to make a worldwide public appeal for Sri Lanka on Wednesday, and has pledged $48 million for food, agriculture and health, Wickremesinghe said. Sri Lanka was also renegotiating with China the terms of a yuan denominated swap worth $1.5 billion agreed last year. The initial terms provided that the swap could only be used if Sri Lanka maintained reserves equivalent to three months of imports. But with reserves now well below that level, Sri Lanka has to request China to reconsider the requirement and allow the swap to proceed, Wickremesinghe said.

Source: The Nation June 08, 2022 04:28 UTC