Sri Lanka is recovering from a record shortfall of dollars in 2022, supported by a $2.9 billion loan programme from the International Monetary Fund. The country faced a massive fuel shortage in the past, leading to massive protests and the eventual ousting of former President Gotabaya Rajapaksa in 2022. Fuel shortages have led to panic buying at fuel stations across the island amid fears of another shortage. The state-run Ceylon Petroleum Corporation has increased its distribution of fuel and has warned of legal action against hoarders.