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Business > Foreign Business
Sri Lanka's economy has collapsed – PM
By Associated Press
Jun 23, 2022 12:07 am

COLOMBO: Sri Lanka's head of government says its debt-laden economy has 'collapsed' after months of shortages of food, fuel and electricity, and the South Asian island nation cannot even purchase imported oil.

'We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed. That is the most serious issue before us today,' Sri Lankan Prime Minister Ranil Wickremesinghe told parliament.

WORSENING TIMES This June 11, 2022 file photo shows Sri Lankan women waiting in line to buy kerosene in the capital Colombo, more than a week before Ranil Wickremesinghe, their prime minister, announced that the country’s economy has collapsed. AP PHOTO

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