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Sri Lanka

Sri Lanka to present debt restructuring plan to IMF by August

PM outlines path as inflation tops 50% and central bank eyes rate hike

Demonstrators protest outside Sri Lanka's Presidential Secretariat in Colombo amid the country's economic crisis in late June.   © Reuters

COLOMBO (Reuters) -- Crisis-hit Sri Lanka will present a debt restructuring plan to the International Monetary Fund by the end of August, in a bid to win approval for a four-year funding programme, the prime minister said on Tuesday.

Economic mismanagement and the aftermath of COVID-19 have left the cash-strapped country of 22 million people unable to pay for essential imports of food, fertiliser, medicines and fuel because of a severe dollar crunch. 

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