SRI LANKA PROTEST PENSIONS

Protest against crippling the pension scheme and new labor law amendments in Sri Lanka

epa10844096 Trade union members shout slogans during a protest accusing the government of trying to cripple the Employees' Provident Funds pension scheme under the guise of the domestic debt restructuring process in Colombo, Sri Lanka, 06 September 2023. The Employees' Provident Fund (EPF) was established in 1958 and is currently the largest and most widespread social security scheme in the country. Sri Lanka's parliament approved a domestic debt restructuring plan to fullfill 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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