Colombo: In Sri Lanka, the country suffering from the worst financial crisis, financial deficit, lack of dollars and economic depression, the entire burden was put on the people before the repayment of the loan installment from the IMF.
According to the report of the World News Agency, after the agreement with the IMF, the electricity rates in Sri Lanka will increase by 275%.
In this regard, the spokesperson of the Sri Lanka Electricity Board says that the electricity prices have been increased according to the strict conditions of the IMF.
Economists of Sri Lanka say that the revenue must be increased to meet the country’s expenses, otherwise the country will face difficulties to get out of the economic crisis.
Remember that Sri Lanka defaulted last year due to severe financial crisis, the government was responsible for payments of forty six billion dollars.
Sri Lanka declared default in April last year after defaulting on its $51 billion foreign debt, and the new president is negotiating with the IMF after a change of government.
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