Sri Lanka PM says country down to last day of petrol | DW News

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DW News published this video item, entitled “Sri Lanka PM says country down to last day of petrol | DW News” – below is their description.

Sri Lanka’s new Prime Minister Ranil Wickremesinghe says the country desperately needs 75 million dollars within the next few days to afford essential imports, including medicine and fuel. In a statement on Monday he warned Sri Lankans that inflation and supply shortages could get worse before they gets better. Meanwhile, many are already suffering from the country’s recent economic mismanagement.

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is an island country in South Asia, located in the Indian Ocean southwest of the Bay of Bengal and southeast of the Arabian Sea. Sri Lanka has been called “the pearl of the Indian ocean” because of its shape and location.

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