The Guardian reports that Sri Lanka has requested China to defer its loan instalments.
The report also states that Sri Lanka is currently facing a severe economic crisis due to the depletion of foreign exchange reserves.
Electricity is cut off from time to time and long queues have been created across the country for essential items, the report said.
It also states that it is currently seeking the assistance of the International Monetary Fund to restructure Sri Lanka’s existing debt.
The report also said that the supply of essential commodities, including food, medicine and fuel, had declined due to a shortage of foreign exchange reserves to finance the importation of essential commodities.
The report further states that due to the shortage of dollars in paper imports, the country has become unable to print even the examination papers for millions of students.
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