(Image source from: Apnews.com)
Sri Lanka to sell Airline and Print money to get out of Crisis:- Sri Lanka is struggling with a financial crunch and the new government got formed recently. Ranil Wickremesinghe took oath as the new Prime Minister of the country and during his latest address, Ranil Wickremesinghe said that the government will privatize Sri Lankan Airlines to pull out the finance. The carrier lost 124 million USD by March 2021. Ranil Wickremesinghe said that the government will print money to pay the salaries though it will mount pressure on the country. The government of Sri Lanka is in plans to obtain dollars in the open market to pay for crude oil and furnace oil that are surfaced in the Sri Lankan waters.
Ranil Wickremesinghe said that the next two months will be very crucial for everyone in the country. "A national Assembly will be established very soon and all the political parties are requested to join the platform to find solutions for the crisis. The nation has to recover soon from the crisis. The cabinet will increase the treasury bill issuance limit to 4 trillion rupees from 3 trillion rupees" told Ranil Wickremesinghe. Ranil Wickremesinghe took oath after Mahinda Rajapakse faced the heat and submitted his resignation. The new Finance Minister is yet to be appointed and the nation will hold talks with the International Monetary Fund to get loans. For now, it is not clear if the government can get cash in the absence of the full cabinet in the country.