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Sri Lanka PM says economy 'has collapsed,' unable to buy oil

7 days ago   |   By WGN TV

COLOMBO, Sri Lanka - Sri Lanka's prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity.
Prime Minister Ranil Wickremesinghe told Parliament on Wednesday that the South Asian country is “facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed.”
Wickremesinghe is also the finance minister tasked with stabilizing the economy. He said Sri Lanka is unable to purchase imported fuel, even for cash, due to heavy debts owed by its petroleum corporation.
He said...
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Sri Lanka's prime minister says its troubled economy has collapsed and country is unable to even pay for oil imports

Sri Lanka's prime minister says its troubled economy has collapsed and country is unable to even pay for oil imports

7 days ago   |   By ABC News


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