Sri Lanka is facing record-high inflation and lengthy power blackouts
\nCOLOMBO
\nSri Lanka closed schools and halted all non-essential government services on Monday, beginning a two-week shutdown to conserve fast-depleting fuel reserves as the International Monetary Fund opened talks with Colombo on a possible bailout.
\nThe country of 22 million people is in the grip of its worst economic crisis after running out of dollars to finance even the most essential imports, including fuel.
\nOn Monday schools were shut and state offices worked with skeleton staff as part of government plans to reduce commuting and save precious petrol and diesel. Hospitals and the main seaport in Colombo were still operating.
\nHundreds of thousands of motorists remained in miles-long queues for petrol and diesel even though the energy ministry announced they will not have fresh stocks of fuel for at least three more days.
\nThe country defaulted on its $51 billion foreign debt in April and went cap-in-hand to the IMF.
\nThe first in-person talks with the IMF on Sri Lanka\u2019s bailout request commenced in Colombo on Monday and will continue for 10 days, the lender and the government said in brief statements.
\nPrime Minister Ranil Wickremesinghe was also due to meet visiting Australian Home Affairs Minister Clare O\u2019Neil to \u201cdeepen cooperation and assist Sri Lanka as the country faces very difficult economic times,\u201d Canberra said in a statement.
\nIt said O\u2019Neil will also discuss strengthening engagement on transnational crime, including people-smuggling following a surge in would-be illegal immigrants by boat in the past month.
\nSri Lanka is facing record-high inflation and lengthy power blackouts, all of which have contributed to months of protests \u2014 sometimes violent \u2014 calling on President Gotabaya Rajapaksa to step down.
\nPolice arrested 21 student activists who blocked all gates to the presidential secretariat building after declaring Monday, Rajapaksa\u2019s 73rd birthday, a \u201cday of mourning\u201d.
\nThe shutdown order came last week as the United Nations launched its emergency response to feed thousands of pregnant women who were facing food shortages.
\nFour out of five people in Sri Lanka have started skipping meals as they cannot afford to eat, the UN has said, warning of a looming \u201cdire humanitarian crisis\u201d with millions in need of aid.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sri Lanka is facing record-high inflation and lengthy power blackouts COLOMBO Sri Lanka closed schools and halted all non-essential government services on Monday, beginning a two-week shutdown to conserve fast-depleting fuel reserves as the International Monetary Fund opened talks with Colombo on a possible bailout. The country of 22 million people is in the grip […]<\/p>\n","protected":false},"author":2,"featured_media":267140,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[8753,186,7620,793],"class_list":{"0":"post-267138","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-bankrupt","9":"tag-imf","10":"tag-shutdown","11":"tag-sri-lanka"},"yoast_head":"\n