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Sri Lanka PM Says Economy ‘Has Collapsed,’ Unable to Buy Oil | World News

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By KRISHAN FRANCIS, Related Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says its debt-laden financial system has “collapsed” after months of shortages of meals, gasoline and electrical energy.

Prime Minister Ranil Wickremesinghe instructed Parliament on Wednesday that the South Asian nation is “dealing with a much more critical scenario past the mere shortages of gasoline, fuel, electrical energy and meals. Our financial system has utterly collapsed.”

Wickremesinghe can be the finance minister tasked with stabilizing the financial system. He mentioned Sri Lanka is unable to buy imported gasoline, even for money, as a consequence of heavy money owed owed by its petroleum company.

He mentioned the federal government missed out on the possibility to show the scenario round and that “We at the moment are seeing indicators of a doable fall to all-time low.”

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