Former Sri Lankan PM Ranil Wickremesinghe expresses concern over rising financial crisis
- 2 years ago
Amid the severe economic crisis in Sri Lanka, Former Prime Minister Ranil Wickremesinghe expressed his concern over the dire situation in the island country and said that that the available resources will run out by second week of May.
“Economic crisis has led to a political crisis. What is happening is a disaster for the country. For 2 years, Government ignored economic issues. When we left in 2019, there was a surplus on primary budget and there was money to pay debts,” said the ex-PM of Sri Lanka.
“What has happened is really an issue, people have to be held responsible. The young people who voted in mass for President Rajapaksa, want him to go. On the other-hand President has said that he has to stay on. So, it has become a deadlock,” he added.
“In the meantime, the economy is collapsing and there is no Government. In last 2 weeks, the Government decided to go to IMF but it's going to take a long time. Before that, we may run out of resources,” Wickremesinghe said.
“I don't think that Government has that much of resources left in the reserves and now they are borrowing money from leading export companies to pay the bill. India's credit line for fuel will run out latest by second week of May and then we are going to be in serious trouble,” he added.
“Economic crisis has led to a political crisis. What is happening is a disaster for the country. For 2 years, Government ignored economic issues. When we left in 2019, there was a surplus on primary budget and there was money to pay debts,” said the ex-PM of Sri Lanka.
“What has happened is really an issue, people have to be held responsible. The young people who voted in mass for President Rajapaksa, want him to go. On the other-hand President has said that he has to stay on. So, it has become a deadlock,” he added.
“In the meantime, the economy is collapsing and there is no Government. In last 2 weeks, the Government decided to go to IMF but it's going to take a long time. Before that, we may run out of resources,” Wickremesinghe said.
“I don't think that Government has that much of resources left in the reserves and now they are borrowing money from leading export companies to pay the bill. India's credit line for fuel will run out latest by second week of May and then we are going to be in serious trouble,” he added.