S Lanka urgently seeks $6b to keep economy afloat

COLOMBO, June 07 (AFP): Cash-strapped Sri Lanka on Tuesday asked the International Monetary Fund to arrange a creditor meeting for $6 billion in loans to help keep the country afloat during its unprecedented economic crisis.

Months of daily blackouts, long queues for petrol and record inflation have made daily life a misery in the South Asian island nation of 22 million people.

The government has already defaulted on its $51 billion foreign debt, and a critical shortage of foreign currency has left traders unable to import adequate supplies of food, fuel and other essential goods.

Prime Minister Ranil Wickremesinghe said the country needed $5 billion for its daily needs in the next six months, along with another billion to stabilise Sri Lanka's rapidly depreciating rupee.

"We call on the International Monetary Fund to hold a conference to help unite our lending partners," the premier told parliament.