Used cars turn to gold as economy skids on the edge

Booming business: Customers look at cars displayed for sale at a car dealership in Malabe, Colombo. Sri Lanka’s economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house. — AFP

COLOMBO: Supermarket shelves are bare and restaurants can’t serve meals, but Sri Lanka’s economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house in a nice area.

The island nation of 22 million is on the brink of bankruptcy, inflation is red hot and the government has barred a range of “non-essential” imports to save dollars needed to buy food, medicine and fuel.