TOPACCOLADE NEWS

The government of Sri Lanka (Formally Ceylon) has appealed to the International Monetary Fund (IMF) to send the country funds to help the country stave off the cost of living crisis.

The IMF will consider Sri Lanka's case, but it stresses that: “Sri Lanka is in the same boat as Zambia, where it cant afford to pay any debt back”.

The subcontinental country has also seen violent protests over fuel and food shortages on the island in their capital Colombo.

Power cuts have also affected the island nation, leading to many homes and cities either on three day weeks or in complete blackouts.

Sri Lanka's foreign debt is held in majority by China and Japan, along with US firm BlackRock and Swiss firm UBS.