Sri Lanka's PM admits his country’s troubled economy has collapsed


June 22, Fineko/ Sri Lanka's economy has "completely collapsed", now the country cannot afford to buy imported oil, Sri Lankan Prime Minister Ranil Wickramasinghe stated on Wednesday.

ABC.AZ reports that Wickramasinghe said that the country is facing a situation that is much more serious than simple shortage of fuel, gas, electricity and food.

"Our economy has completely collapsed. This is the most serious problem today," Wickramasinghe emphasized.

The PM said that the debt of the largest oil and gas company in Sri Lanka, Ceylon Petroleum Corporation, currently amounts to $700 million, and therefore "no country or organization in the world is ready to provide us with fuel."