Sri Lanka’s IMF Talks Are at Risk After PM Quits, Citi Says
- Stability of country’s political establishment in question
- Sri Lanka largely reliant on India, China for bridge financing
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Sri Lanka faces complications and delays in bailout talks with the International Monetary Fund amid questions over political stability after the prime minister resigned, Citigroup Global Markets said.
Even after the brother of President Gotabaya Rajapaksa resigned as prime minister on Monday, protesters targeted the homes and properties of ruling-party lawmakers, reports said. The demonstrations, which have beset the capital Colombo for weeks, come as inflation quickened to close to 30% in April amid a sharp drop in the rupee.