Colombo, May 27 (Agency) Warning that Sri Lanka was on the brink of economic collapse, President Gotabaya Rajapaksa has called upon the international community to help his country over the worst financial meltdown in over seven decades. Addressing the 27th International conference on ‘Future of Asia’ virtually on Thursday, the beleaguered President said it was no secret that the last several months had been extremely difficult for Sri Lanka. “We are currently undergoing a severe economic crisis, which has profoundly impacted the lives of all Sri Lankans, resulting in social unrest,” he said. “The virtual shutting down of the tourism industry and the sharp decline in inward remittances from expatriate workers due to Covid-19 in the past two years and increasing inflation due to other events combined with Sri Lanka’s high outstanding debt obligations to cause a severe financial crisis,” he said.
He spoke about various efforts Sri Lanka has undertaken to bring the economic turmoil under control. “As we work through such solutions, however, we urgently require the assistance of our friends in the international community to ensure that our immediate needs in terms of the importation of essential medicines, food supplies, and fuel are met. “Sri Lanka is grateful for the support provided by India, our close friend and neighbour, which responded with generosity in our time of need. The support extended by our other neighbours and development partners, as well as regional and global institutions, is also deeply appreciated. “I appeal to the other friends of Sri Lanka present here to also explore the possibility of extending support and solidarity to my country at this very difficult time.” The economic meltdown in Sri Lanka has led to widespread shortages of even essential commodities including food, fuel and medicines.