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Economy

Sri Lanka seeks regional bailout as balance of payments crisis looms

Colombo looks to India and China for financial assistance and renegotiates with IMF

Sri Lanka is in dire straits as the debt-strapped country confronts a looming balance of payment crisis.   © Reuters

COLOMBO -- Sri Lanka is turning to key Asian allies for a financial lifeline as a balance of payment crisis looms over the debt-strapped South Asian island. It is in discussions with India and China in a desperate effort to meet unprecedented foreign debt obligations.

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