Sri Lankan stocks stopped trading for 1 week

Over the past three months, the Sri Lankan stock index has fallen by as much as 38 percent, while the country’s currency has depreciated more than 35 percent against the dollar in the past month.

According to the plan, the negotiating team of Sri Lanka and the International Monetary Fund will start working on April 22, discussing support solutions to help the country get out of the situation of exhaustion. currencyserving the import of essential goods are in serious shortage.

Previously, to mitigate the effects of the financial crisis, Sri Lanka raised its prime interest rate to 14.5%. Along with that, the country announced that creditors, including foreign governments, have the right to capitalize interest due from April 12, or choose to receive payments in Sri Lankan Rupees.

The island nation of Sri Lanka is dealing with the Economic Crisis This is the worst situation since independence in 1948. People in this country often live with power cuts, shortages of food and fuel and record-high inflation.

Amid the escalating crisis, all 26 ministers in the Sri Lankan government resigned over the weekend. On April 5, the new Finance Minister Ali Sabry also resigned just a day after being appointed to this position.

On April 8, the main opposition party Samagi Jana Balawegaya (SJB) in Sri Lanka asked the government to resolve the current crisis, or else face a vote of no confidence.

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