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"Sri Lanka: The country of 22 million people is struggling with its worst economic crisis in seven decades."

Sri Lanka's Prime Minister Ranil Wickremesinghe has said the country's economy has "completely collapsed", leaving it unable to pay for essentials such as oil imports.

It follows months of shortages of food, fuel, and electricity, and the realisation that even the credit lines from neighbouring India that have sustained the country so far will not be enough.

Mr Wickremesinghe told Sri Lanka's parliament: "We are now facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food.

"Our economy has completely collapsed - that is the most serious issue before us today."

Mr Wickremesinghe said that the state-owned Ceylon Petroleum Corporation is $700m (£572m) in debt, adding: "As a result, no country or organisation in the world is willing to provide fuel to us.

"They are even reluctant to provide fuel for cash."

https://news.sky.com/story/amp/sri-lankas-pm-says-its-debt-laden-economy-has-collapsed-12638329


It is disheartening to read about the economic situation in Sri Lanka. The situation there has occurred in many other countries since the turn of this century. A number of countries have suffered from great depressions and economic downturn.

We at TLF have always advocated that financial empowerment is a great way to solve many problems including insecurity, overdependence, idleness and lack of social development. Although our aims are charity and social development in Nigeria, we long for a time when charitable needs would be drastically reduced because more people will be able to sustain themselves and even assist their kit and kin.

How many can we really help nowadays in TLF? Once upon a time, we organised end of year activities and gave monthly donations in line with our themes. However, in these challenging times and lack of donations coupled with insecurities, we have toned down on our charitable activities sadly. We only do little of what we project and budget to do monthly.

Our pray to God Almighty is that He helps the people of Sri Lanka to come out of this economic problem speedily. We also pray that such complete collapse of the economy does not happen in Nigeria, with the rising cost of power, diesel, fuel, domestic gas and staple consumables such as bread, garri, milk, fruits and even nuts, in Jesus name, amen.

All hands must be on deck to salvage Nigeria and keep this from happening.

#TogetherWeCan 

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