Sri Lanka is in debt, the country which flourished is now having shortage of petrol, pharmaceuticals, foreign reserves, cooking gas, and other commodities are in short supply in Sri Lanka.
The island nation is experiencing its worst economic crisis since its 1948 independence, and power outages and rising food costs have further added to the people’s agony.
The economic crisis prompted a political crisis in Sri Lanka, with demands for the strong Rajapaksas to quit.
Rating agencies are anticipated to downgrade Sri Lanka on Wednesday as a result of the non-payment of coupons on two of the country’s sovereign bonds, while the energy minister said the country has run out of money to pay for fuel.
As it appealed to citizens “not to wait in line” for fuel, the minister revealed that the country lacks foreign cash to pay for a shipment of petrol stuck in its waters for over two months.
According to the government, the country has sufficient diesel supplies.
Prime Minister Ranil Wickremesinghe stated that the World Bank has provided the government with $160 million in bridging funding to help pay for necessary imports.
Following this, Sri Lankans have been protesting against the government. Hundreds of people, including daily wage workers and those who have lost their employment as a result of the current crisis, queued for meals donated by a Colombo-based organisation at Galle Face in Colombo.