The Sri Lankan authorities plan to start negotiations with the International Monetary Fund (IMF) on April 18 to receive $3-4 billion in economic assistance by the end of the year, Bloomberg TV channel reported citing Sri Lankan Finance Minister Ali Sabry.

He also expressed optimism about the possibility of receiving financial support from China and India.

Sri Lanka is experiencing its worst economic crisis since independence in 1948. It is caused by a reduction in foreign tourism due to the pandemic, which led to a shortage of the country's foreign exchange reserves.

Under these conditions, the Sri Lankan authorities were forced to reduce imports and introduce austerity in resources.

Sri Lanka is in great need of cement, automotive parts, fuel, food. This situation led to an increase in inflation, which reached 17% in March. External borrowing and the fight against the economic crisis are hampered by the external debt of Sri Lanka, which is $ 35 billion.