Sri Lanka in extreme financial crisis. The people of the country are protesting against the terrible financial crisis. All the 27 members of the cabinet except the prime minister have submitted their resignations. The governor of the central bank has also resigned. President Gotabaya Rajapaksa has called for the formation of an all-party government to deal with the crisis.
Debt-ridden Sri Lanka’s foreign exchange reserves are alarmingly low. For this, the country is not able to pay the import price of other products including fuel. People are without electricity for hours. Inflation has exceeded the level. There are no products on the market. So people ignored the curfew and took to the streets to protest.
The president’s office said in a statement: “At this national juncture, it is time for all citizens and future generations to work together. The President has invited all the political parties represented in the parliament to unite to take charge of the ministry in order to resolve this national crisis.
Sri Lanka’s central bank governor Ajith Nivarad on Monday announced his resignation amid a crisis in the economy. Submitting his resignation letter to the President, he tweeted, “I have submitted my resignation letter to President Gotabaya Rajapaksa as Governor today in the context of the resignation of everyone in the Cabinet.”
The people of the country are protesting against the terrible financial crisis
The people of the country are protesting against the terrible financial crisisPhoto: Reuters
President Gotabaya Rajapaksa’s elder brother Prime Minister Mahinda Rajapaksa and Finance Minister Basil Rajapaksa imposed a state of emergency and a curfew on Friday after the Sri Lankan people began protesting against the financial crisis. Meanwhile, President Gotabaya today called for the formation of an all-party government.
“If an interim government is formed and people have some confidence in the people in government, the situation will gradually improve,” Pikeiasothi Saravanamattu, executive director of the think tank Center for Policy Alternatives, told Reuters. But people are more dissatisfied with the president.
“People who are protesting in the streets are demanding that Gotabaya Rajapaksa resign,” he said. He is the target now.