Wednesday, July 6, 2022, 9:20 p.m.
July 6, 65 foreign news agencies reported that Sri Lanka Government which has no more dollars in reserves Prepare to stop printing rupee banknotes to pay government salaries After efforts to inject the rupee into the system have yet to halt inflation reaching 60%.
Prime Minister Ranil Wickremesinghe, speaking to parliament ahead of a review of monetary policy on Thursday, said inflation in the country could reach 60 percent soon and the government plans to propose a debt restructuring plan to the International Monetary Fund. Or the IMF at the end of August. At present, the consumer price index in Sri Lanka for June rose 54.6 percent compared to the same period last year. and the fare in the month June, up 128% from May. And food prices have risen 80% amid shortages in agricultural products and crude oil. The government has been facing losses in international reserves to import food, fertilizer, medicine and fuel for months.
The prime minister expressed hope the IMF would approve a four-year loan plan after the IMF said last week that The results of our recent trip to Sri Lanka have been satisfactory. but admits Negotiations are more complex and cumbersome than in the past. because the country is now in bankruptcy Unlike previous negotiations as a developing country
At the same time, it was reported that Sri Lanka’s central bank plans to raise interest rates on Thursday to curb inflation. After May insisted on not adjusting the deposit rate to 13.50% and the loan rate at 14.50% and preparing to stop printing rupee banknotes to pay civil servants’ salaries. After efforts to inject the rupee into the system have yet to halt inflation reaching 60%.
Sri Lanka recently ordered the closure of all government and educational institutions until July 10 to save fuel. make many roads empty But many vehicles were lined up for kilometers to refuel at a few open gas stations.