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Crisis engulfs Sri Lanka

In his first public address after taking office, the new Prime Minister Ranil Wickremesinghe of Sri Lanka Yesterday (Vietnam time) said that the financial crisis in this country will be even worse in the near future.

“In the next few months, we will enter one of the most difficult periods for the people of Sri Lanka,” he said. At the time Mr. Wickremesinghe spoke, Sri Lanka had only enough gas for a day.

Crisis covers Sri Lanka - photo 1

People wait in long queues to fill up petrol in the capital Colombo on May 16

reuters

Foreign exchange reserves from 7.5 billion USD in November 2019 are now near zero. In the next few days, the government needs 75 million USD to maintain the operation of the economy. Essential medicines are running out. The government was forced to cut off the electricity to

15 hours/day due to lack of fuel. Grandfather Wickremesinghe said it was asking for foreign aid, privatizing SriLankan Airlines and seeking to issue more bonds. “The coming days will be even more difficult than we have experienced,” he concluded.

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