There is no more oil in the South Asian island nation of Sri Lanka. The country has run out of foreign currency to pay for oil imports, new Prime Minister Ranil Wickremesinghe said in a speech to the population on Monday. “We only have supplies for one day.” The head of government prepared the population for further hardships in the coming months.
Sri Lanka, with a population of 22 million, is in the midst of its worst economic crisis since independence from Britain in 1948. A major cause of the crisis was the collapse of international tourism as a result of the corona pandemic. The previous government had also been accused of maladministration.
Will the new prime minister turn around?
For weeks, people took to the streets against former Prime Minister Mahnda Rajapaksa. The protests escalated a week ago; at least nine people were killed and more than 225 others were injured. Dozens of houses were set on fire. Rajapaksa resigned, Wickremesinghe was sworn in on Thursday.
The new prime minister announced an “economic war cabinet”. On Sunday, he spoke to representatives of the World Bank and the Asian Development Bank about aid to his country.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
