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Sri Lanka crisis

Sri Lanka prime minister: economy 'has collapsed'

Island faces 'far more serious' problems than lack of food, fuel, toilet paper

New Prime Minister Ranil Wickremesinghe's comments to parliament on June 22 appear intended to emphasize to critics and opposition lawmakers that he has inherited a difficult task that cannot be fixed quickly.   © AP

COLOMBO (AP) -- Sri Lanka's debt-laden economy has "collapsed" after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country's dire situation as it seeks help from international lenders.

Ranil Wickremesinghe told Parliament the South Asian nation faces "a far more serious situation" than the shortages alone, and he warned of "a possible fall to rock bottom."

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