SRI LANKA PROTEST

Protest against crippling the Employees' Provident Funds in Sri Lanka

epa10778749 Supporters of Sri Lanka's National People's Power (NPP) political alliance shout slogans during a protest accusing the government of trying to cripple the Employees' Provident Funds under the guise of the domestic debt restructuring process in Colombo, Sri Lanka, 31 July 2023. Thousands of Supporters of Sri Lanka's National People's Power (NPP) political alliance staged a protest in the capital, Colombo, accusing the government of trying to cripple the Employees' Provident Funds under the guise of the domestic debt restructuring process. The Employees' Provident Fund (EPF) was established in 1958 and is currently the largest and most widespread Social Security Scheme in the country. Meanwhile, Sri Lanka's parliament approved a domestic debt restructuring plan to fully fill the International Monetary Fund's (IMF) economic policies and reform strategies. The IMF approved a three-billion-dollar Extended Fund Facility (EFF) arrangement to support Sri Lanka's economic policies and reforms, as the country is experiencing its worst economic crisis in over seven decades as a result of a lack of foreign reserves. EPA/CHAMILA KARUNARATHNE

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