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With no fuel and no cash, Sri Lanka keeps schools closed

KION

By BHARATHA MALLAWARACHI
Associated Press

COLOMBO, Sri Lanka (AP) — Cash-strapped Sri Lanka has extended school closures for one week because there isn’t enough fuel for teachers and parents to get children to classrooms. The energy minister has appealed to the country’s expatriates to send money home through banks to finance new oil purchases. A huge foreign debt has left the Indian Ocean island with none of the suppliers willing to sell fuel on credit. The available stocks, sufficient for only several days, will be provided for essential services, including health and port workers, public transport and food distribution. The energy minister said Sunday that finding money is a huge challenge. He says authorities are struggling to find $587 million to pay for fuel because Sri Lanka owed about $800 million to seven fuel suppliers.

Article Topic Follows: AP National Business

Associated Press

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