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Sri Lanka's Western Province postponed end-of-term school exams after running out of the paper that the exams are printed on.
Officials said the tests will be rescheduled at some point for about 4.5 million students. The announcement came as Sri Lanka is experiencing one of the worst recessions in the country since 1948, when it became independent.
"School principals cannot hold the tests as printers are unable to secure foreign exchange to import necessary paper and ink," the Department of Education of the Western Province said in a statement.
According to China's ambassador to Sri Lanka, Qi Zhenhong, the two countries are in discussions about a loan aimed at helping to rebuild the Sri Lankan economy. Reuters reported that the loan could be for up to $1 billion.
Qi said the loan would be separate from the $500 million loan given from China on March 18. The two countries are looking for ways to alleviate the crisis without worsening Sri Lanka's $4 billion debt.
"We believe our ultimate goal is to solve the problem, but there may be different ways to do so," Qi told reporters.
At the end of February, Sri Lanka's foreign currency reserves stood at about $2.3 billion. The capital city of Colombo has accrued the most debt in the country, with about $6.9 billion needing to be serviced by the end of the year.
China is not the only country asked for assistance with the economy. Last week, Al Jazeera reported that Sri Lanka has secured a $1 billion line of credit from India in order to import food and medicine. The International Monetary Fund (IMF) is also considering granting a bailout to Sri Lanka, although updates on the discussions have not been released.
"We will discuss with the authorities how best we can assist Sri Lanka going forward," IMF spokesman Gerry Rice said.
Sri Lanka's population of about 22 million has been affected by the recession in more ways than just the lack of paper. Reuters reported that two men recently died while in line waiting for fuel, which has skyrocketed in price. The men were in their 70s, with one diabetic and a heart patient.
Both were among thousands waiting in lines for hours in recent weeks for fuel their vehicles and heating oil amid rolling power cuts. Increased prices have driven low-income families from using gas for cooking to kerosene oil.
Sri Lanka's inflation hit 15.1 percent in February, Reuters reported, among the highest in Asia, while food inflation soared to 25.7 percent, according to the latest government data.
Update 3/21/22, 11:33 a.m. ET: This story has been updated with additional information.
