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'We have run out of petrol' admits Sri Lankan Prime Minister

Former Sri Lankan Prime Minister files petition against Commission on  political victimisation | Tamil Guardian

In a televised address on Monday, newly appointed Prime Minister Ranil Wickremesinghe announced that Sri Lanka is down to its last day of petrol.

A combination of economic mismanagement, excessive military spending and exogenous shocks have left the island with fuel shortages for weeks. 

During his address Wickremesinghe stated that "We have run out of petrol … at the moment, we only have petrol stocks for a single day". The newly appointed Prime Minister also said that the country desperately needs to secure $75m in foreign exchange to fund essential imports.

According to Wickremesinghe the central bank will be printing out money in order to pay "state-sector employees and to pay for essential goods and services." In early April the Sri Lankan rupee became the worst-performing currency in the world. 

The fuel shortages have left civilians waiting in lengthy queues to secure petrol.

Speaking to Reuters, autorickshaw driver Mohammed Ali said "we spend almost six to seven hours in the line just to get petrol."

 Read more here and here.

Read the full text of his speech and more in our piece: 'I will risk my life if needed' claims Sri Lankan PM as he warns of challenges ahead

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