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Reuters
Reuters
World
Uditha Jayasinghe and Devjyot Ghoshal

Sri Lanka calls for $1 billion debt restructure as crisis rages

A man shouts slogans during a protest in front of the Temple Trees Prime Minister Mahinda Rajapaksa's official residence, amid the country's economic crisis in Colombo, Sri Lanka, April 7, 2022. REUTERS/Dinuka Liyanawatte

Sri Lanka must urgently seek funds from multilateral lenders and aim to restructure a debt payment due in July, its outgoing finance minister said on Thursday, pleading for political stability amid the country's worst economic crisis in decades.

The opposition and some partners of the ruling coalition rejected calls this week for a unity government from President Gotabaya Rajapaksa after he disbanded his cabinet, hoping to quell weeks-long street protests over shortages of fuel, power, food and medicine.

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