After months of shortages of food, fuel and electricity, and the realization that even the credit limits from neighboring India that have kept the country so far will not be enough. Mr Wickremesinghe told the Sri Lankan parliament: “We are now facing a much more serious situation than just shortages of fuel, gas, electricity and food. “Our economy has completely collapsed – this is the most serious issue we have today.” Mr Wickremesinghe said the state-owned Ceylon Petroleum Corporation owed $ 700 million (2 572 million), adding: “As a result, no country or organization in the world is willing to give us fuel. “They are even reluctant to provide cash for fuel.” Sri Lanka is struggling with its debt burden, coupled with the effects of the coronavirus pandemic, including the loss of tourism revenue and rising commodity costs. Read more: Sri Lanka faces bankruptcy – but what went wrong? Image: Prime Minister of Sri Lanka Ranil Wickremesinghe Mr Wickremesinghe said efforts to reverse the situation had failed, adding: “If at least steps had been taken to slow down the economic collapse in the beginning, we would not be facing this difficult situation today. “It simply came to our notice then. “We are now seeing signs of a possible fall to the bottom.” Image: Protests continued on Wednesday, with opposition supporters pictured near Mr Wickremesinghe’s home. Last month, Mr Wickremesinghe blamed the previous government for the problems, accusing it of “destroying the economy”. Former Prime Minister Mahinda Rajapaksa resigned in May after months of protests and clashes between supporters of the government and those demanding a change of leadership. This brought veteran Wickremesinghe into the role for the sixth time, in a move that opposition politicians said was aimed at protecting President Gotabaya Rajapaksa and his family from the wrath of protesters.
