© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US TSYS

What Recession?

US TSYS

Eurodollar/SOFR/ Tsy Options Roundup

PIPELINE

Corporate Issuance Over $60B/Wk

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Sri Lanka Waiting on Fuel Credit Line from India

ENERGY
BulletEnergy BulletsCommodities

Sri Lanka has five more days of power and energy according to its energy minister today.

  • The country is waiting on a $500 million credit line for fuel from the Indian government.
  • Sri Lanka is unable to make $725 million in overdue payments to suppliers and also struggling to open letters of credit for future shipments, Power and Energy Minister Kanchana Wijesekera said today.
  • "We are struggling to get fuel supplies due to our forex issues and the government is working to manage existing stocks of diesel and petrol until 21 June," Wijesekera said, adding "We are finding it very difficult to meet demand and stocks could run out faster if we do not cut back on non-essential travel and stop hoarding fuel."
123 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Sri Lanka has five more days of power and energy according to its energy minister today.

  • The country is waiting on a $500 million credit line for fuel from the Indian government.
  • Sri Lanka is unable to make $725 million in overdue payments to suppliers and also struggling to open letters of credit for future shipments, Power and Energy Minister Kanchana Wijesekera said today.
  • "We are struggling to get fuel supplies due to our forex issues and the government is working to manage existing stocks of diesel and petrol until 21 June," Wijesekera said, adding "We are finding it very difficult to meet demand and stocks could run out faster if we do not cut back on non-essential travel and stop hoarding fuel."