Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of food, fuel and electricity shortages.
Ranil Wickremesinghe told parliament that the South Asian country “faces a much more serious situation beyond the mere shortage of fuel, gas, electricity and food.”
“Our economy has completely collapsed,” he said.
Wickremesinghe is also the finance minister in charge of stabilizing the economy. He said Sri Lanka could not buy imported fuel, not even for cash, due to the large debts of its oil company.
He said the government missed the opportunity to turn the situation around.
“We are now seeing signs of a possible fall to the bottom,” he said.
More to come.