Due to lack of fuel, Sri Lanka stalled

For months, the island’s 22 million inhabitants lived on a daily rhythm of blackouts, fuel and food rationing, with, in addition, high inflation (+54% in June). Lukiyanova Natalia/frenta – stock.adobe.com

All government agenciesnot important“, and schools will remain closed until July 10 to reduce travel and conserve energy.

Sri Lanka’s gasoline reserves hit 4,000 tonnes on Sunday. This is a lower level than the island’s usual consumption in a single day, Kanchana Wijesekera, the Energy Minister warned.

Public transportation has also stopped. As for private buses, which represent two-thirds of the fleet, only 1,000 vehicles out of 20,000 can travel on Sundays. The situation should not improve so quickly. “The next gasoline delivery is expected between July 22 and July 23said Kanchana Wijesekera. All government agenciesnot important“, and schools will remain closed until July 10 to reduce travel and conserve energy.

For months, the island’s 22 million inhabitants lived on a daily rhythm of blackouts, fuel and food rationing, with, in addition, high inflation (+54% in June).

Lack of foreign currency

The island, which lies south of India, is gone, with the 2019 pandemic and attacks, most of its revenue tied to tourism and remittances from the diaspora. A severe shortage of foreign currency no longer allowed him to import enough food, fuel and other basic necessities.

Unable to repay its $51 billion foreign debt, the government declared a default in April and is negotiating a possible bailout with the International Monetary Fund. But the IMF believes that more action needs to be taken, especially in terms of corruption, to correct accounts before entering into financing agreements.

The United Nations has warned that the economic crisis could turn into a serious humanitarian crisis, with millions of people already in need of assistance.

Serena Hoyles

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