Sri Lanka’s economy has “completely collapsed” and it is facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food, Prime Minister Ranil Wickremesinghe warned on Wednesday, underscoring the urgency of arriving at an early agreement with the IMF to obtain an additional credit facility.
“If steps had at least been taken to slow down the collapse of the economy at the beginning, we would not be facing this difficult situation today. But we lost out on this opportunity. We are now seeing signs of a possible fall into the very bottom. However, we must come out of this situation. If not, we will be unable to seek solutions to any other issue in the country,” Wickremesinghe, also the Finance Minister, said.