Thursday, July 7

Crisis-hit Sri Lanka gets $55-mln credit line from India for fertilizers

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COLOMBO — Sri Lanka’s cabinet has approved a $55-million credit line from India’s Exim Bank for the crisis-stricken Indian Ocean nation to buy fertilizers, a cabinet spokesman said on Tuesday.

The country of 22 million is suffering its worst economic crisis in seven decades, battling a shortage of foreign exchange that has stalled imports of essential items such as fuel, medicine and fertilizers. (Reporting by Uditha Jayasinghe; Writing by Devjyot Ghoshal; Editing by Clarence Fernandez)