Sri Lanka could run out of reserves by the end of the month - Ranil

COLOMBO (News 1st); Former Sri Lankan Prime Minister Ranil Wickremesinghe had told CNBC International TV that Sri Lanka will run out of its reserves by end of April 2022.

"We got a credit line from India. The Credit Line for fuel will run out by the second week of May," he said adding that the Credit Line from India for other goods will run out by the end of May.

He warned that Sri Lanka's private sector will have zero foreign exchange to operate on by June 2022.

"The middle class is collapsing, the farmers cannot get fertilizer," he noted while stating that protests against the government are being led by the youth who are camping out next to the President's Office.