Sri Lanka must look to restructure a $1 billion international sovereign bond maturing in July, said Ali Sabry, who recently submitted his resignation as finance minister amid a massive economic crisis.

Sabry told parliament the country should seek a financial bailout, debt moratorium or some other means to address the crisis. It was not immediately clear if President Gotabaya Rajapaksa had accepted his resignation sent on Tuesday.

(Reporting by Uditha Jayasinghe; Editing by Raissa Kasolowsky)