Sri Lanka’s prime minister says economy has ‘completely collapsed’

Sri Lanka’s economy has “completely collapsed”, leaving it unable to buy imported fuel, the country’s prime minister has said.

Speaking to his colleagues on Wednesday, Ranil Wickremesinghe said his nation is “facing a far more serious situation” than the gas, electricity and food shortages it has experienced in recent months. “Our economy has completely collapsed,” he explained.

Mr Wickremesinghe, who is also serving as the finance minister, admitted that the government had missed the opportunity to rectify the situation. “We are now seeing signs of a possible fall to rock bottom,” he warned.

The Sri Lankan prime minister also confirmed that his government was seeking financial assistance from countries including China, India, Japan and the US.

“We need the support of India, Japan and China who have been historic allies. We plan to convene a donor conference with the involvement of these countries to find solutions for Sri Lanka’s crisis,” Mr Wickremesinghe said.

“We will also seek help from the US,” he added.

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