the economy completely collapsed
The Prime Minister said that now we are facing a much more serious situation than the shortage of fuel, gas, electricity and food. Our economy has completely collapsed. This is the most serious issue before us today. The Prime Minister said that a team of high-ranking officials of the Reserve Bank of India (RBI) is scheduled to reach Colombo on Thursday to assess the local economic conditions.
no country is giving fuel
At present, Prime Minister Ranil Wickremesinghe, who is also handling finance affairs, said that Ceylon Petroleum Corporation has a debt of $ 700 million. As a result, no country or organization in the world is ready to provide us fuel. He said that if better steps had been taken for the recovery of the economy in the beginning, we would not have been in such a situation today.
India’s help also has a limit
Wickremesinghe said in Parliament, “We have taken a loan of US $ 4 billion under the Indian Line of Credit. We have requested more credit assistance from our Indian counterparts, but our neighbor India will not be able to support us like this continuously. Even their help has its limits. On the other hand, we should also have a plan to repay these loans. These are not charitable donations.
The only hope from the International Monetary Fund
Ranil Wickremesinghe in Parliament briefs Parliament about the measures taken by the government so far to counter the economic crisis. He said Sri Lanka’s only hope now is from the International Monetary Fund. Let us tell you that Sri Lanka is facing the worst economic crisis since its independence in 1948, due to which there has been an acute shortage of essential commodities like food, medicine, cooking gas and fuel.