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Sri Lanka’s Prime Minister Says Economy Faces ‘Complete Collapse’

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Sri Lanka’s prime minister stated its indebted economy confronted full collapse, as he laid the groundwork for what are anticipated to be powerful austerity measures as a part of negotiations over its price range and an Worldwide Financial Fund bailout.

Sri Lankans have endured months of double-digit inflation, rolling energy blackouts and acute shortages in food and medicines. A bailout from the IMF is the one choice to avert an impending financial catastrophe, Prime Minister Ranil Wickremesinghe stated.