The Sri Lanka Public Utilities Commission announced that the power outage across the country will reach 13 hours from March 31. Judging from the power outage schedule announced by the Ceylon Electricity Authority, the power outages in various places are generally about 4 hours each time, and then the power outages are rolled out at various time periods.
Sri Lanka, unable to pay for fuel transportation due to a shortage of foreign exchange, is ready to seek assistance from the International Monetary Fund. In the worst economic crisis Sri Lanka has faced in decades, foreign exchange reserves have fallen by 70% in the past two years. Its foreign exchange reserves were only $2.31 billion as of February, making it difficult for Sri Lanka to import essentials such as food and fuel. Part of the current massive blackout is the government's inability to pay $52 million for the 37,000 tonnes of diesel that is waiting to be unloaded. The Sri Lankan stock market closed down 3.6% on the 30th and fell more than 7% on the day, causing the Colombo Stock Exchange to suspend trading twice.
To emerge from the crisis, Sri Lankan Finance Minister Basil Rajapaksa will visit Washington in April for talks with the International Monetary Fund.
