Sri Lanka-News as of 24th June 2022 – By Dr Harold Gunatillake Sri Lanka’s economy ‘has completely  collapsed’, says despairing PM Transcript: India stands ready to help Sri Lanka in quick economic recovery through promoting investments, connectivity and strengthening economic linkages,” Indian foreign ministry spokesman Arindam Bagchi posted on Twitter. Sri Lanka’s prime minister says its debt-laden economy has collapsed after months of food, fuel and electricity shortages, and the South Asian island nation cannot even purchase imported oil. “We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed. That is the most serious issue before us today,” Prime Minister Ranil Wickremesinghe told Parliament on Wednesday. “Currently, the Ceylon Petroleum Corporation is $700 million in debt,” he told MPs. “As a result, no country or organisation in the world is willing to provide fuel to us. ...

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Sri Lanka -current news – by Dr Harold Gunatillake Website:www.doctorharold.com New PM starts talks on Foreign Consortium for Financial Assistance • PM holds preliminary talks with foreign envoys representing India, Japan, United States of America and China • The Indian and Japanese envoys discussed the measures being taken to gather support from other foreign nations to help Sri Lanka’s economy Sri Lanka’s new Prime Minister, Ranil Wickremesinghe, has secured the support of key countries in the world such as India, the US, Japan and China. He is expected to get majority support in parliament also, though he is the lone representative of his party, the United National Party, in parliament. Wickremesinghe might not head a truly “national” government composed of all parties inparliament. But he might get the support of enough MPs to have a majority, that is, at least 113 in the House of 225. World’s Interest in Stability ...

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