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Sri Lanka PM says economy ‘has completely collapsed,’ unable to purchase fuel

Posted on AllSides June 22nd, 2022
From The Center
AP

COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity.

Prime Minister Ranil Wickremesinghe told Parliament on Wednesday that the South Asian country is “facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed.”

Wickremesinghe is also the finance minister tasked with stabilizing the economy.

He said Sri Lanka is unable to purchase imported fuel, even for cash, due to heavy debts owed by its...

Read full story
https://www.marketwatch.com/story/sri-lanka-pm-says-economy-has-completely-collapsed-unable-to-purchase-fuel-01655888282

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