Sri Lanka’s prime minister says economy has ‘completely collapsed’

Sri Lanka’s economy has “completely collapsed”, leaving it unable to buy imported fuel, the country’s prime minister has said.

Speaking to his colleagues on Wednesday, Ranil Wickremesinghe said his nation is “facing a far more serious situation” than the gas, electricity and food shortages it has experienced in recent months. “Our economy has completely collapsed,” he explained.

Mr Wickremesinghe, who is also serving as the finance minister, admitted that the government had missed the opportunity to rectify the situation. “We are now seeing signs of a possible fall to rock bottom,” he warned.

The Sri Lankan prime minister also confirmed that his government was seeking financial assistance from countries including China, India, Japan and the US.

“We need the support of India, Japan and China who have been historic allies. We plan to convene a donor conference with the involvement of these countries to find solutions for Sri Lanka’s crisis,” Mr Wickremesinghe said.

“We will also seek help from the US,” he added.

India has already offered support to the beleaguered country, providing it with around $3bn (£2.45bn) worth of assistance. A delegation from India will arrive in Sri Lanka on Thursday for further talks, while a team from the US will hold meeting with Sri Lankan officials next week.

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Douglas Mateo

Douglas holds a position as a content writer at Neptune Pine. His academic qualifications in journalism and home science have offered her a wide base from which to line various topics. He has a proficiency in scripting articles related to the Health industry, including new findings, disease-related, or epidemic-related news. Apart from this, Douglas writes an independent blog and assists people in living healthy life.

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