Sri Lankan Prime Minister: Island’s Economy ‘Has Collapsed’

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Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country’s dire situation as it seeks help from international lenders, the Associated Press reported. Ranil Wickremesinghe told Parliament the South Asian nation faces “a far more serious situation” than the shortages alone, and he warned of “a possible fall to rock bottom.” “Our economy has completely collapsed,” he said. The crisis on the island of 22 million is considered its worst in recent memory, but Wickremesinghe did not cite any specific new developments. His comments appeared intended to emphasize to critics and opposition lawmakers that he has inherited a difficult task that cannot be fixed quickly. Read more.
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