BREAKING: Sri Lanka runs out of petrol. Read what happens next

  • What: In an address to the nation, the country's new Prime Minister Ranil Wickremesinghe said that Sri Lanka had run out off petrol and it could not find dollars to finance essential imports.

  • Why: The PM stated that the government was also unable to raise dollars to pay for three shipments of oil, with the ships awaiting outside the Colombo harbour for payments before discharging their cargoes.

  • Statement: "The next couple of months will be the most difficult ones of our lives," PM Wickremesinghe said. "I have no desire to hide the truth and to lie to the public."

  • Another update: The country's government had also run out of cash to pay the 1.4 million civil servants their salaries in May, and he will turn to money printing as a last resort.

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