Sri Lanka’s prime minister says the island nation’s debt-lad | The Paradigm Shift Channel ⏳

Sri Lanka’s prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel. Sri Lankans are skipping meals as they endure shortages, lining up for hours to try to buy scarce fuel. The government owes $51 billion and is unable to make interest payments on its loans.

India's top diplomat held talks with Sri Lanka's president and prime minister as India signalled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already provided.

Prime Minister Wickremesinghe noted that the only safe option before the country now to get out of the dire situation it is facing, is to hold discussions with the IMF.