Sri Lankan Prime Minister Ranil Wickremesinghe on Monday said the country's economy is in a precarious condition and the cash-strapped nation is out of petrol.  

"We have run out of petrol... At the moment, we only have petrol stocks for a single day," he said in a national address regarding the economic crisis. "At present, the Sri Lankan economy is extremely precarious."

Ranil Wickremesinghe who was appointed as the prime minister on Thursday, said the country urgently needed $75 million in foreign exchange to pay for essential imports.

Two shipments of petrol and two of diesel using an Indian credit line could provide relief in the next few days, he added, but the country is also facing a shortage of 14 essential medicines.

Sri Lanka is in the midst of an economic crisis stemming from a foreign currency crisis that has led to a shortage in essential supplies such as fuel, food and medicines.

(With input from agencies)