Sri Lanka raises fuel prices after IMF loan installment
Key points
- Sri Lanka raised fuel prices by up to 6% on Sunday (May 31, 2026), in line with International Monetary Fund (IMF) plans to recover energy costs and phase out subsidies to stabilise the economy.
- Also read | Sri Lanka raises fuel prices by 25% as war bites Petrol was raised to 434 SLR ($1.33), up from 410 SLR, while diesel increased to 407 SLR a litre from 392 SLR, the state-run Ceylon Petroleum Corporation said.
- The price hike came days after the IMF released a $695 million instalment of a $2.9 billion bailout loan, agreed in early 2023 to stabilise the cash-strapped South Asian nation.
- The IMF wants Sri Lanka to ensure cost recovery for both fuel and electricity tariffs, which the government has subsidised since the start of the conflict in West Asia in February.
- President Anura Kumara Dissanayake, in a letter to the IMF, made public by the...
Quick Summary
Sri Lanka raised fuel prices by up to 6% on Sunday (May 31, 2026), in line with International Monetary Fund (IMF) plans to recover energy
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Sri Lanka raises fuel prices after IMF loan installment.
Key Takeaways
- Sri Lanka raised fuel prices by up to 6% on Sunday (May 31, 2026), in line with International Monetary Fund (IMF) plans to recover energy costs and phase out subsidies to stabilise the economy.
- Also read | Sri Lanka raises fuel prices by 25% as war bites Petrol was raised to 434 SLR ($1.33), up from 410 SLR, while diesel increased to 407 SLR a litre from 392 SLR, the state-run Ceylon Petroleum Corporation said.
- The price hike came days after the IMF released a $695 million instalment of a $2.9 billion bailout loan, agreed in early 2023 to stabilise the cash-strapped South Asian nation.
- The IMF wants Sri Lanka to ensure cost recovery for both fuel and electricity tariffs, which the government has subsidised since the start of the conflict in West Asia in February.
- President Anura Kumara Dissanayake, in a letter to the IMF, made public by the Washington-based international lender, said that fuel subsidies will be phased out by September.
📌 Source: The Hindu
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