STORY: Sri Lanka's economy has endured very difficult recent times.

Now a drought threatening the country's summer rice harvest could make things worse.

The island economy is trying to recover from its worst financial crisis in decades.

A $2.9 billion bailout from the International Monetary Fund has helped it slowly stabilize since March.

But before the country's agriculture sector could recover from sky-rocketing prices - the rains failed.

H.J.M Seneviratne is a 63 year-old farmer who works near the town of Anamaduwa.

The drought has destroyed 95% of his crops.

"Just when we needed it we ran out of water. Now making a living is a problem."

The southwest monsoon that farmers rely on for the summer harvest was weak this year due to the El Nino weather pattern.

Forecasters predict there will be no rains until October.

Usually Seneviratne's four acres yield up to 6 tons of rice for the summer harvest, but this time he predicts he will get up to about 330 pounds.

Almost every water tank in the area has dried out, destroying about 200 acres of paddy.

The tanks are crucial for collecting rainwater for irrigation.

"Up to yesterday we didn't even have water to even to drink. We are forced to buy water. A litre costs about three rupees. One canister lasts only three days. Only to drink. For everything else we have to find water from here and there."

Authorities estimate the paddy loss could be as much as 75,000 acres across Sri Lanka.

For now, rice prices have so far been mostly unchanged in retail stores.

But experts say they are worried if the country doesn't receive the rains it needs next March the country will be left with few reserve stocks.

And then it will have to resort to large-scale, expensive imports.

That would only add to the difficulties faced in a country of 22 million people where the economy is struggling, and rice is the staple food.