Sri Lanka runs out of petrol: How the island nation lost the political & economic battle

Sri Lanka's Prime Minister Ranil Wickremesinghe declared on Monday that the country had run out of petrol amid the economic crisis sweeping the island nation.

The country has been hit by fuel and food shortages including high inflation as it struggles with a political crisis.

Wickremesinghe warned "next couple of months will be the most difficult ones of our lives" with protesters calling for President Gotabaya Rajapaksa's resignation.

Sri Lanka's crisis

The nation has been struggling economically since the pandemic began two years ago as foreign remittances dried up and tourists stopped visiting the island due to worldwide lockdowns.

In the last one yearthe country has faced repeated power blackouts along with medicine shortages even as the government declared last month that it would be defaulting on its foreign debts.

Reports claim the government does not have dollars to finance oil imports even asthe country has run out of essential drugs.

Political division:

After Prime Minister Mahinda Rajapaksa's resignation amid large scale protests, Wickremesinghe has struggled to form a "unity government".

Watch:PM Ranil Wickremesinghe gives full picture of country's economic crisis

The country crucially does not have a finance minister even as four ministers were sworn in last week. The prime minister has called for an "economic war cabinet".

Wickremesinghe took over the reins for the sixth time as prime minister. However, there has been little sign of peace with troops patrolling the streets as people stand in queue to gather essential supplies.

(With inputs from Agencies)

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