Two major Sri Lankan newspapers, The Island and Divaina, have halted their print editions as the cash-strapped island struggles to pay for imports, including paper.
The papers, privately owned by Upali Newspapers, said that "in view of the prevailing newsprint shortage” their daily newspapers will only be available online. Due to rising costs, other main national dailies have also reportedly reduced pages in their print editions.
Printing paper, is one of many items that Colombo have been unable to import due to a shortage in foreign exchange reserves. Earlier this month, Sri Lanka cancelled school examinations indefinitely for millions of students over the shortage of printing paper.
Sri Lanka, currently struggling with one of its worst financial crisies, has sought assistance from the International Monetary Fund (IMF) whilst also seeking loans from India and China to stabilise it's economy. Despite securing a $1 billion credit line from India to pay for its import of essential goods, Sri Lanka has sought another credit line of $1.5 billion this week.
The debilitating economy has sparked protests in Colombo as inflation and reduced imports have caused the cost of living to soar. Sri Lanka has been rationing its supply of fuel, which has led to long queues at petrol stations and daily power cuts across the island.
