Jakarta –
Sri Lanka is in a serious crisis. In fact, this crisis has made mothers unable to buy milk for their babies.
Sri Lankan Prime Minister (PM) Ranil Wickremesinghe admits his country has gone bankrupt. He said the acute suffering from the economic crisis would still be felt at least until the end of 2023.
As reported AFPTuesday (5/7/2022), Sri Lanka The country’s population of 22 million has been hit by months of inflation and prolonged power outages after the government ran out of foreign currency to import vital goods.
1. Crisis could be until 2023
Wickremesinghe said Sri Lanka, once a prosperous country, will experience a deep recession this year and acute shortages of food, fuel and medicine will continue.
“We also have to face difficulties in 2023,” Wickremesinghe told Sri Lanka’s parliament on Tuesday (5/7) local time.
He said that ongoing talks on a bailout for Sri Lanka with the International Monetary Fund (IMF) would hinge on finalizing a debt restructuring plan with creditors in August.
“We are now participating in the negotiations as a bankrupt country,” Wickremesinghe said in a statement.
“Due to the bankruptcy situation our country is in, we have to submit a debt sustainability plan to them separately. Only when (IMF) is satisfied with the plan can we reach an agreement,” he added.
Also watch the video: Sri Lankans are busy hunting bicycles in the midst of the fuel crisis
–
