Sri Lanka asks for Russia's help to buy fuel - RTHK
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Sri Lanka asks for Russia's help to buy fuel

2022-07-07 HKT 18:50
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  • Hundreds of people have protested against the Sri Lankan government on the streets of Colombo. Photo: AFP
    Hundreds of people have protested against the Sri Lankan government on the streets of Colombo. Photo: AFP
Sri Lanka’s president has turned to Russian President Vladimir Putin for fuel aid in the island nation’s worst financial crisis since independence from Britain in 1948.

The country is massively in debt and petrol prices have quadrupled in recent months, with the economic crisis leading to weeks of civil unrest. Hundreds of people protested against the government on the streets of the capital Colombo on Wednesday.

President Gotabaya Rajapaksa said he "had a very productive" discussion with Putin.

"I requested an offer of credit support to import fuel," Rajapaksa tweeted in reference to his conversation with the Russian leader.

RTHK’s South Asia Correspondent Murali Krishnan said both leaders discussed bilateral cooperation, but what Sri Lanka needs now is fuel.

Krishnan said the fuel shortage in the country has led to a shutdown of public services.

Public discontent with the government has increased in recent months as “there were hopes that the balance of payments would have been sorted out [by this stage] to some extent”, Krishnan said.

He added there is not enough cash in the population to pay for medicine, food and other essentials in the bankrupt island nation and that every industry in Sri Lanka is struggling in the economic crisis.

“Right now as it negotiates with the IMF [International Monetary Fund], it is not in a position of strength,” says Krishnan.

“And it goes to the IMF as a bankrupt country. And because of that, it needs to get its finances right before it can repair its runaway fiscal deficit.”

Krishnan also said India is providing two ships of diesel and petrol later this month.

Sri Lanka asks for Russia's help to buy fuel