Sri Lanka will not hold local government polls scheduled for March 9 due to a lack of funds, the island’s Election Commission said in a statement.
(Bloomberg) — Sri Lanka will not hold local government polls scheduled for March 9 due to a lack of funds, the island’s Election Commission said in a statement.
The commission said it will seek the intervention of the Parliament’s speaker to get the required funds from the treasury.
On Thursday, lawyers for Sri Lanka’s treasury secretary told the island’s top court that the country is facing a severe cash crunch and the cabinet of ministers had directed him to allocate funds only for essential activities.
The bankrupt nation is seeking a $2.9 billion loan from the International Monetary Fund to recover from its worst economic crisis since independence.
A new date for elections will be announced on March 3, the commission said.
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