Cash-Strapped Sri Lanka Indefinitely Defers Exams Amid Paper Shortage
Colombo, the country's capital, is short on dollars required to afford imports.
Facing its worst financial crisis since 1948, Sri Lanka has cancelled examinations for millions of school students as the country has run short of printing paper.
Colombo, the country's capital, is short on dollars required to afford imports, officials said Saturday, 19 March, reported AFP.
Education authorities have ordered indefinite deferring of term tests which were initially scheduled for next week, due to the acute shortage of paper.
"School principals cannot hold the tests as printers are unable to secure foreign exchange to import necessary paper and ink," the department of Education of the Western Province said.
According to official sources, this could lead to a delay in the tests for about two thirds of Sri Lanka's 4.5 million students.
Debilitating Economic Crisis
The country is facing a shortage of food, pharmaceuticals, and fuel, caused due to lack of foreign exchange reserves to fund basic imports. Long queues are being seen across the country for groceries and oil.
The cash-strapped country announced that it will be seeking an International Monetary Fund (IMF) bailout to find a solution to its worsening crisis.
The IMF confirmed on Friday that it was considering Sri Lankan President Gotabaya Rajapaksa's request to discuss the bailout.
Earlier this year, the county had sought help from China, one of its main creditors, to pay off the debt but Beijing has not yet responded.
(With inputs from AFP.)
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