Day: March 16, 2023

Sri Lanka unions stage strike to protest against IMF bailout plan.

Recently, unions in Sri Lanka went on strike to oppose the International Monetary Fund’s IMF bailout strategy. In exchange for Sri Lankan economic reforms and austerity measures, including cuts to public sector wages and pensions as well as higher taxes on petrol, alcohol, cigarettes, and other items, the IMF had proposed a three-year loan package of $1.5 billion. Trade unionists are outraged, claiming that this will only make things worse for the nation’s already-struggling workforce.