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Reuters
Reuters
Business
Uditha Jayasinghe

Exclusive-Crisis-hit Sri Lanka in talks with India for another $1.5 billion credit line

FILE PHOTO: A man walks along a beach, against the backdrop of Colombo's Financial City, Sri Lanka June 12, 2018. REUTERS/ Dinuka Liyanawatte

Sri Lanka has sought an additional credit line of $1.5 billion from India to import essentials, the island nation's central bank governor said on Monday, amid its worst economic crisis in decades.

The country of 22 million people is struggling to pay for essential imports after a 70% drop in foreign exchange reserves in two years led to a currency devaluation and efforts to seek help from global lenders.

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