Colombo: Socialist youth union members shout slogans blocking the entrance to Sri Lanka’s police headquarters during a protest
Sri Lanka’s prime minister says its debt-ridden economy has “collapsed” after months of lack of food, fuel and electricity. Prime Minister Ranil Wickremesinghe told parliament on Wednesday that the South Asian country is facing a “far more dire situation than the lack of fuel, gas, electricity and food. Our economy has completely collapsed.”
Wickremesinghe is also the finance minister who stabilized the economy. He said Sri Lanka is unable to buy imported fuel even for cash due to the huge debt of its Petroleum Corporation.
He said the government missed an opportunity to turn the situation around and “we are now seeing signs of a possible downside.”