Sri Lanka's president is set to resign after demonstrators stormed his home and office Saturday to protest the government's handling of a dire economic ...
Sri Lankan President Gotabaya Rajapaksa will step down next week, after angry protesters swarmed his official residence and offices.
Unlike his elder brother Mahinda, who dominated Sri Lankan politics for nearly 20 years in stints as president and prime minister, Gotabaya did not set out for ...
Two defence ministry sources said Rajapaksa had left the official residence on Friday ahead of the planned weekend demonstration and Reuters could not immediately confirm his whereabouts. Hit hard by the pandemic and populist tax cuts, Sri Lanka fell into its worst economic crisis since the end of colonial rule. "They did not give priority to national security," he told Reuters a week after the bombings when announcing his presidential run. The government has countered that the rebels kept thousands of civilians as human shields, exacerbating the death toll. After the dramatic storming of the president's official residence by protesters on Saturday, the speaker of parliament said in a video statement Rajapaksa had informed him that he would step down on July 13. Taking early retirement he emigrated to the United States, where he worked in information technology.
Thousands of protesters demanding the resignation of Sri Lankan President Gotabaya Rajapaksa are set to converge on his official residence Saturday as the ...
Demonstrators break in shouting slogans against Gotabaya Rajapaksa, who has been moved for his safety.
However, despite mass protests and enduring public calls for the president to resign, he has so far refused. Images from the scene showed protesters flooding up the grand staircase of the colonial-era building chanting calls for the president to go. According to the defence ministry, Rajapaksa had been relocated from the house on Friday and taken into military protection over concerns that the planned protest would escalate.
Protesters broke into the Sri Lankan leader's official residence in Colombo on Saturday as more than 100000 amassed outside, according to police, ...
Schools have been suspended and fuel has been limited to essential services. A police curfew that was earlier imposed in several police divisions in the Western Province of Sri Lanka was lifted on Saturday. Several politicians and the Bar Association in Sri Lanka referred to the curfew as being "illegal," saying there had been no instances of violence to justify imposing the measure. At least 31 people, including two police officers, have been injured in the protests and are receiving treatment, according to the National Hospital of Sri Lanka (NHSL). Two of the injured are in critical condition, according to police.
Thousands of people demonstrated in the capital against the island nation's worst economic crisis in recent memory and demanded President Gotabaya Rajapaksa ...
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Gotabaya Rajapaksa flees as anger over shortages of fuel, food and medicine pitches into unrest.
COLOMBO: Sri Lanka Prime Minister Ranil Wickremesinghe is willing to resign to make way for a new unity government, his office said in a statement on ...
We will not stop until he listens to us," Perera said. The fertiliser ban was reversed in November. The Speaker can appoint a new all-party government but whether they will be accepted by the protesters remains to be seen," said political analyst Kusal Perera. If that does not happen political instability will worsen," said Sri Lanka Freedom Party leader and former president Maithripala Sirisena, speaking before Wickremesinghe had offered his resignation. Reuters could not immediately confirm the president's whereabouts. Advertisement
Sri Lankan President Gotabaya Rajapaksa, whose family many hold responsible for the worst economic crisis in decades, was moved to safety ahead of the ...
A new prime minister and cabinet were sworn in but as the economic situation worsens, anger is beginning to spill over again. Wickremesinghe told parliament recently the country was “bankrupt.” Asking the president to step down he said, “The siege is over. But the country was struggling in the negotiations. Earlier in the day, thousands of people carrying the yellow and red Sri Lankan flag marched toward the president’s home chanting “Gota, go home.” The police fired tear gas to deter the surging crowds. “We are desperate,” said Himantha Wickremerathne, a 34-year-old lawyer who joined the protests.
Sri Lanka Prime Minister Ranil Wickremesinghe will step down nearly two months after taking the position, making way for a new government after Saturday's ...
President Gotabaya Rajapaksa was not at his residency when the protesters broke in.
A member of the far-right Oath Keepers militia brought explosives to Washington, D.C. ahead of the Jan. 6 deadly insurrection, according to court documents from the Justice Department. The big picture: Retired Lt. Gen. Gary Volesky, the Army's former top spokesman, responded to a tweet from Biden that said the rights of women had been stolen in the Supreme Court's decision to overturn Roe v. Driving the news: Protesters had gathered outside of the restaurant and called Morton's manager to have the justice, who joined the Supreme Court's majority opinion overturning Roe v. - Thousands of people have traveled to the country's capital to join the protests, which have been ongoing for months. - The country is facing major food and medicine shortages, which doctors in the country said in May could lead to deaths,Al Jazeerareports. By the numbers: At least 31 people have been injured in the protests, per CNN, which cited the National Hospital of Sri Lanka.
COLOMBO: Sri Lanka is mired in a deep political and economic crisis and on Saturday (Jul 9) the country's president was forced to flee his residence not ...
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Sri Lanka's President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe will resign after angry protesters stormed their homes, giving into popular ...
“Wickremesinghe has told the party leaders that he is willing to resign as Prime Minister and make way for an all-party government to take over,” his office ...
Before breaking into the government buildings on Saturday, the protesters dismantled several police barricades in Colombo’s government district. We will not stop until he listens to us,” Mr Perera said. The Speaker can appoint a new all-party government, but whether they will be accepted by the protesters remains to be seen,” said political analyst Kusal Perera. The fertiliser ban was reversed in November. If that does not happen, political instability will worsen,” said Sri Lanka Freedom Party leader and former president Maithripala Sirisena, speaking before Mr Wickremesinghe had offered his resignation. Reuters could not immediately confirm the President’s whereabouts.
The events on Saturday were the culmination of months of anti-government protests fuelled by an unprecedented economic crisis that bankrupted the South Asian ...
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Calm returned to the streets of Sri Lanka's commercial capital Colombo on Sunday and protesters were jubilant as President Gotabaya Rajapaksa agreed to ...
The speaker had outlined proposals from a meeting of political parties on Saturday that would include parliament picking an acting president within a week. Some took selfies of the polished interiors, a striking contrast to the misery many have endured. The fertiliser ban was reversed in November. Others set fire to the private home of Prime Minister Ranil Wickremesinghe, who also agreed to resign to make way for an all-party government. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com
If both president and prime minister resign, Speaker Mahinda Yapa Abeywardena will take over as temporary president, according to the constitution.
Protesters later broke into the prime minister's private residence and set it on fire, Wickremesinghe's office said. Video and pictures showed jubilant crowds splashing in the garden pool, lying on beds and using their cellphone cameras to capture the moment. Thousands of protesters entered the capital Colombo on Saturday and swarmed into Rajapaksa's fortified residence.
Mr Gotabaya Rajapaksa had to be extracted from his residence by troops who fired into the air to keep the crowd outside at bay.
Cricket officials said there were no plans to change their schedules, adding that the sport was unaffected by the political turmoil. Nine people were killed and hundreds were wounded after the violence sparked reprisals against pro-government mobs and arson attacks on the homes of lawmakers. The unrest comes at the tail end of Australia's ongoing cricket tour of Sri Lanka, with Pakistan's squad also on the island for their upcoming series. Soon after the protesters stormed the presidential palace, Mr Rajapaksa's nearby seafront office also fell into the hands of protesters. After storming the gates of the presidential palace, a throng of protesters walked through its rooms, with some among the boisterous crowd jumping into the compound's pool. The events on Saturday were the culmination of months of anti-government protests fuelled by an unprecedented economic crisis that bankrupted the South Asian island nation, and fury over the ruling Rajapaksa clan's corruption.
Sri Lanka woke on Sunday to an uncertain future, with both its President and Prime Minister set to step down after thousands of protesters stormed their ...
If both Wickremesinghe and Rajapaksa resign, under the Sri Lankan constitution, the speaker of parliament will serve as acting president for a maximum of 30 days. Fellow journalists who rushed to their aid were then also attacked, Newsfirst reported. Two of the journalists from the Sri Lankan TV channel Newsfirst had their cameras rolling at the time. Among those injured is a lawmaker from eastern Sri Lanka, she added. Protesters also targeted Prime Minister Ranil Wickremesinghe, setting on fire his private residence on Fifth Lane, an affluent neighborhood in the capital. Images show demonstrators inside the whitewashed colonial-era building and hanging banners from the balcony.
Firefighters try to douse a fire at the Sri Lankan prime minister Ranil Wickremesinghe's private residence · Demonstrators protest inside the President's House ...
IMF officials told reporters they were hoping for the situation in Sri Lanka to improve. The economic crisis in Sri Lanka began earlier this year after its government suspended repayment of foreign loans due to a foreign currency shortage. The slogan, “Gota Go Home” was a consistent call, referring to the beleaguered president. A woman who came with her two teenage daughters told Al Jazeera she wanted to see how the presidents lived. The leaders are responsible for what has happened to this country,” K Chandra, a demonstrator, told Al Jazeera. On Sunday morning, many protesters were still camping in the president’s official residence.
Sri Lankans roamed through a ransacked presidential palace on Sunday (Jul 10) as calm returned to the commercial capital, Colombo, a day after protesters ...
COLOMBO: Sri Lankans roamed through the ransacked presidential palace on Sunday (Jul 10) as calm returned to Colombo a day after protesters stormed the ...
Despite the chaos, the president's office was still working. The speaker had outlined proposals from a meeting of political parties on Saturday that would include parliament picking an acting president within a week. Wickremesinghe, seen by protesters as part of the ruling elite, also agreed to step down, his office said. Don't destroy or loot". A smashed vase lay next to it. Petrol has been severely rationed and long lines have formed in front of shops selling cooking gas. Members of the security forces, some with assault rifles, stood outside the compound but did not stop people from going in.
On island's most chaotic day in months amid economic crisis, protesters storm president's residence and torch PM's home.
The protesters later broke into Prime Minister Ranil Wickremesinghe’s private residence and set it on fire. Outrage over Sri Lanka’s collapsing economy came to a boil on Saturday when tens of thousands of protesters stormed the colonial-era residence of President Gotabaya Rajapaksa and later set the prime minister’s house on fire. On the island’s most chaotic day in months, protesters storm president’s residence and set PM’s home on fire in rage over the economic crisis.
Protesters stormed the home of President Gotabaya Rajapaksa and set Prime Minister Ranil Wickremesinghe's home ablaze over the country's economic collapse.
“My demand is that we have honest and educated people appointed from the present parliament to take us out of this immediate mess.” Visuals from local media showed a stream of visitors walking through an imposing stairway at the president’s home. Announcements were made to not steal or harm the property. Aid groups say nearly a quarter of the country’s 22 million residents are in need of food assistance. The Senate Foreign Relations Committee, in a tweet, said President Rajapaksa had lost the confidence of the Sri Lankan people. “It was the might of the people on show,” he said. Namal Ratnayake, 40, was part of the protesting crowd that marched toward the president’s office. Ganeshan Wignaraja, an economist at ODI, a U.K.-based global affairs think tank who has been involved in the IMF discussions described the economic situation as “hugely challenging.” In May, similar large-scale protests led to the resignation of Rajapaksa’s older brother Mahinda as prime minister and other family members. The anger over continued economic distress spilled over again, this time in greater force. He had moved out of his home a day ahead of the protests, and his whereabouts remain unknown. On Saturday, angry crowds stormed the presidential residence and office, and celebrated their victory by diving into the swimming pool and lounging on his bed.
Public anger over the country's economic crisis has forced the president and prime minister to agree to resign · Demonstrators in Colombo. · Protesters swimming ...
You may cancel your subscription at anytime by calling Customer Service. Monthslong antigovernment demonstrations took a dramatic turn on July 9, when police were unable to hold back large crowds of protesters who stormed and occupied the official residences of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe. Protesters also set fire to Mr. Wickremesinghe’s private home. Sri Lanka’s sovereign-debt crisis has crippled its economy and sparked months of political turmoil and public unrest.
COLOMBO, July 10 (Reuters) - Sri Lanka's economic crisis looks to have finally toppled President Gotabaya Rajapaksa. Rajapaksa has not commented directly ...
Register now for FREE unlimited access to Reuters.com The crisis has crippled Sri Lanka, once seen as a model for a developing economy. Months later, the COVID-19 pandemic struck. Fuel shortages have led to long queues at filling stations as well as frequent blackouts, and hospitals have run short of medicine. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com
On Saturday, both PM Wickremesinghe and President Gotabaya Rajapaksa agreed to resign amid mounting pressure from protesters who stormed both their ...
Meanwhile, the Sri Lankan rupee has weakened in value to about 360 to the US dollar. The prime minister appeared to be underscoring the challenges facing his government as it seeks help from the IMF and confronts criticism over the lack of improvement since he took office weeks earlier. Earlier in June, the United Nations launched a worldwide public appeal for assistance. The stark declaration in June by Wickremesinghe, who is in his sixth term as prime minister, threatened to undermine any confidence in the state of the economy and didn’t reflect any specific new development. The government needed to boost its revenues as foreign debt for big infrastructure projects soared, but instead Rajapaksa pushed through the largest tax cuts in Sri Lankan history. The tax cuts were recently were reversed, but only after creditors downgraded Sri Lanka’s ratings, blocking it from borrowing more money as its foreign reserves sank. Growing numbers of Sri Lankans are seeking passports to go overseas in search of work. The push for organic farming caught farmers by surprise and decimated staple rice crops, driving prices higher. And its currency has collapsed by 80 per cent, making imports more expensive and worsening inflation that is already out of control, with food costs rising 57 per cent, according to official data. Tourism, an important engine of economic growth, has sputtered because of the pandemic and concerns about safety after terror attacks in 2019. Sri Lankans are skipping meals as they endure shortages and lining up for hours to try to buy scarce fuel. Tropical Sri Lanka normally is not lacking for food, but people are going hungry.
Sri Lanka's prime minister said late last month that the island nation's debt-laden economy had “collapsed” as it ran out of money to pay for food and fuel.
Sri Lanka has suspended repayment of about $7 billion in foreign loans due this year out of USD 25 billion to be repaid by 2026. The prime minister appeared to be underscoring the challenges facing his government as it seeks help from the IMF and confronts criticism over the lack of improvement since he took office weeks earlier. Meanwhile, the Sri Lankan rupee has weakened to about 360 to the US dollar. The stark declaration in June by Wickremesinghe, who is in his sixth term as prime minister, threatened to undermine any confidence in the state of the economy and didn't reflect any specific new development. The government needed to boost its revenues as foreign debt for big infrastructure projects soared, but instead, Rajapaksa pushed through the largest tax cuts in Sri Lankan history. Sri Lanka's prime minister said late last month that the island nation's debt-laden economy had “collapsed” as it ran out of money to pay for food and fuel. The tax cuts were recently reversed, but only after creditors downgraded Sri Lanka's ratings, blocking it from borrowing more money as its foreign reserves sank. The government owes USD 51 billion and cannot make interest payments on its loans, let alone put a dent in the amount borrowed. The push for organic farming caught farmers by surprise and decimated staple rice crops, driving prices higher. Sri Lankans are skipping meals as they endure shortages and lining up for hours to try to buy scarce fuel. And its currency has collapsed by 80%, making imports more expensive and worsening inflation that is already out of control, with food costs rising 57%, according to official data. Tropical Sri Lanka normally is not lacking for food, but people are going hungry.
SINGAPORE: Singapore's Ministry of Foreign Affairs (MFA) on Sunday (Jul 10) advised Singaporeans to defer all non-essential travel to Sri Lanka, ...
Advertisement "They should avoid public places where there are protests and large gatherings of people. Advertisement
The uncertainty about who is leading Sri Lanka deepened on Sunday (Jul 10), as protesters occupied the halls of the presidential residence and office and ...
Protests in Sri Lanka, which forced out the president and prime minister, signal tough choices ahead for other countries with high debt and shortages of ...
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10 July 2022 ... In view of the latest developments in Sri Lanka, Singaporeans are advised to defer all non-essential travel to Sri Lanka. Singaporeans who are in ...
Singaporeans who are travelling to or in Sri Lanka are also strongly advised to purchase comprehensive travel insurance and be familiar with the terms and coverage. Singaporeans who are in Sri Lanka are strongly advised to exercise vigilance and take all necessary precautions for their personal safety. They are also strongly encouraged to e-register with MFA at https://eregister.mfa.gov.sg/ if they have not done so.
Prime minister as well as Rajapaksa will step down after months of protests culminated in attacks on their homes.
But it was not followed up by an official address or letter of resignation and on Sunday he still remained in hiding, reportedly under the protection of the military. President Rajapaksa had been facing months of sustained protests calling for him to step down from power but he had repeatedly refused. Wickremesinghe, whose private residence was set alight by protesters on Saturday, emphasised that the country was facing critical times and needed a stable government. Many of the protesters who have been demonstrating against President Rajapaksa are not supportive of many of the MPs, who they view as still part of the political establishment that caused Sri Lanka’s downfall. Soldiers were deployed around the city and the chief of defence staff, Shavendra Silva, called for public support to maintain law and order. The president’s whereabouts was unknown.
Protesters occupying government buildings say they will remain until the president and PM step down.
- Sri Lanka is also in the middle of discussions with the IMF for an Extended Fund Facility (EFF) lending arrangement, and needs a functioning government to continue its negotiations. - If Gotabaya Rajapaksa resigns on Wednesday, he will be the first Sri Lankan president who was unable to complete his tenure. - President Rajapaksa’s party still holds a majority in parliament. - Due to the COVID-19 pandemic, earnings from foreign tourists and remittances plummeted. This was followed by a 2020 general election in which his party won an overwhelming majority in parliament. - Following the resignation of the president, a government headed by the speaker of parliament is expected to lead the political transition to a new administration.
Sri Lanka's opposition political parties were meeting Sunday to agree on a new government a day after the country's president and prime minister offered to ...
“If these kinds of incidents keep on going, we can wave bye-bye to the IMF and any international assistance that is going to come to the country. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. He later moved into a house in Colombo. Soldiers were deployed around the city and Chief of Defense Staff Shavendra Silva called for public support to maintain law and order. Protesters remained in President Gotabaya Rajapaksa’s home, his seaside office and the prime minister’s residence, saying they will stay until they officially resign.
COLOMBO: Leaders of Sri Lanka's protest movement said on Sunday (Jul 10) they would occupy the residences of the president and prime minister until they ...
They then moved on to the president's office and the prime minister's official residence. Frustration with the economic crisis boiled over on Saturday when a huge crowd of protesters surged passed armed guards into the colonial-era presidential palace and took it over. Wickremesinghe's office said he would also quit, although neither he nor Rajapaksa could be contacted. Petrol has been severely rationed and long lines have formed in front of shops selling cooking gas. We were hoodwinked. Members of the security forces, some with assault rifles, stood outside the compound but did not stop people from going in.
Thousands occupying the presidential palace are determined to stay until both the president and PM step down officially.
The economic crisis in Sri Lanka began earlier this year after the government suspended repayment of foreign loans due to a foreign currency shortage. Opposition parties were meeting in the capital on Sunday to agree on a new government. “Farmers are not being able to cultivate, fisherman have not been able to go to the sea … so support for regime change is island wide,” Kadirgamar said. Wickremesinghe had been part of crucial talks with the IMF for a bailout programme and with the World Food Programme to prepare for a predicted food crisis. Playwright Ruwanthie de Chickera told a news conference at the main protest site in Colombo: “The president has to resign, the prime minister has to resign and the government has to go”. Protesters in Sri Lanka’s capital Colombo continue to occupy the offices of the president and prime minister for a second consecutive day, vowing they will stay put until both officially have resigned.
Good morning. We're covering the resignation of Sri Lanka's president, election results in Japan and Russia's bombardment of Donetsk, Ukraine.
Now, at least one has returned to the city’s streets, thanks to two pilots who pooled their savings to buy and restore the relic. “All my memories came back,” said one woman who used to ride hot dog buses in high school and who brought her 4-year-old son for the experience. Last week, Russia established a civilian administration and unveiled a new flag in border areas under its control — a sign, analysts said, that Moscow plans to annex the territory. “Back then, there was freedom, money and a whole lot of warmth,” Tong, 35, said. Russia has aggressively moved to take the entire Donbas region of Ukraine after seizing the Luhansk province last week. With inflation pressures mounting, the yen weakening, the war in Ukraine heightening fears of energy shortages and coronavirus infections rising, it could be a harder sell than ever. Maria Ressa, the Nobel Prize laureate, lost her appeal against a cyberlibel conviction and could face a lengthy prison sentence,The Guardian reports. It’s unclear what the next government will look like and what it can do immediately to address shortages of food, medicine, fuel and other essentials. But without him, the will to push revisions through a difficult parliamentary process could wane. Rajapaksa himself has not yet addressed the reports that he plans to resign later this week, and it’s unclear who is in charge. - Updates: To receive the latest updates in your inbox,sign up here. South Korea is known for its blazing broadband and innovative devices.
LEADERS of Sri Lanka's protest movement said on Sunday (Jul 10) they would occupy the residences of the president and prime minister until they finally quit ...
Protest movements produce powerful symbols. Images of the citizens of Sri Lanka storming the presidential residence of the man who steered their country ...
When they started swimming in Gotabaya Rajapaksa’s pool, cooking in his kitchen and working out in the official gym, he had to know it was over for his family’s reign of economic destruction. For the first time since demonstrations began in March in the capital, Colombo, soldiers were seen joining the protests. Images of the citizens of Sri Lanka storming the presidential residence of the man who steered their country into financial ruin and then refused to step down sent a pointed message.
Protesters stormed the president and prime minister's homes over the country's economic crisis.
“I unite myself to the pain of the people of Sri Lanka, who continue to suffer the effects of the political and economic instability,’’ the pontiff said. “If these kinds of incidents keep on going, we can wave bye-bye to the IMF and any international assistance that is going to come to the country,” he said. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement. The chief of defense staff, Shavendra Silva, called for public support to maintain law and order. Protesters remained in President Gotabaya Rajapaksa’s residence, his seaside office and the prime minister’s home, saying they would stay until the resignations are official.
Sri Lanka's President Gotabaya Rajapaksa has informed Prime Minister Ranil Wickremesinghe that he will resign, the prime minister's office said on Monday, ...
The country barely has any dollars left to import fuel, which has been severely rationed, and long lines have formed in front of shops selling cooking gas. This government needs to go home and we need better leaders." Foreign exchange reserves were quickly depleted as oil prices rose. "I came alone all this way because I believe we need to see this through. Another protester, Dushantha Gunasinghe, said he had travelled to Colombo from a town 130 km (80 miles) away, walking part of the way because of the fuel crunch. "The people's struggle is for wider political reforms.
Opposition parties in Sri Lanka have begun consultations to form a new government, a day after protesters stormed the president and prime ministers' homes, ...
Protests in Sri Lanka, which forced out the president and prime minister, signal tough choices ahead for other countries with high debt and shortages of ...
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Sri Lanka's opposition parties are trying to cobble together an all-party government and pick candidates who can take over after President Gotabaya ...
Leaders of Sri Lanka's protest movement say they will occupy the residences of the President and Prime Minister until the political leaders finally quit ...
"So the path is very clear what needs to be done for the next six months, that would be priority number one. "I was meant to come into work and a big problem happened. "We are at a crossroads. N A Ajith is one of the security guards at the President's house. "There has to be experience-sharing of the type of reform Australia did to get the economy to where it is today." "The first thing is, Australia is a member of the Quad and the Quad has an explicit stance on trying to help Sri Lanka starting with India," Mr Jafferjee said. "If you are removing the entirety of the executive presidency, you need to go to the people at a referendum." "The next government, the first thing is to try to finalise an IMF program which will require a debt restructuring," Mr Jafferjee said. "So we need to have an election, I believe the minimum period is six weeks to put in place a new government with a new mandate that will have stability in Parliament, and most importantly, legitimacy." "If you want to really take out the executive presidency, you will need to have it not only pass through to those which are to Parliament, but also moved to the people at a referendum," Saliya Peiris, from Sri Lanka's Bar Association, said. "The most important thing is that you need the political legitimacy and I'm afraid that the government that we have at the moment does not have legitimacy," he said. "I'm a security guard at the President's residence and I hope my job will be secure because I'm the father of two children and struggling."
Sri Lanka's opposition parties met Sunday to agree on a new government a day after the president and prime minister offered to resign.
"Together with the bishops of the country, I renew my appeal for peace, and I implore those who have authority not to ignore the cry of the poor and the needs of the people.'' "If these kinds of incidents keep on going, we can wave bye-bye to the IMF and any international assistance that is going to come to the country," he said. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement. Protesters remained in President Gotabaya Rajapaksa's residence, his seaside office and the prime minister's home, saying they would stay until the resignations are official. The chief of defense staff, Shavendra Silva, called for public support to maintain law and order.
A changing of Sri Lanka's political guard may be a step towards shoring up its collapsed economy. President Gotabaya Rajapaksa agreed to resign after ...
Wickremesinghe’s private residence was set on fire in the protests. Sri Lanka is in talks for a possible $3 billion bailout. China, which held 10% of Sri Lanka’s external debt as of April 2021, promised a $1.5 billion currency swap but the tough terms make it unusable. Some of Sri Lanka’s trade as low as 29 cents. About 40 or so international sovereign bonds account for over one third of Sri Lanka’s $50 billion of foreign currency external debt. MUMBAI, July 11 (Reuters Breakingviews) - A changing of Sri Lanka’s political guard may be a step towards shoring up its collapsed economy.
Sri Lankan President Gotabaya Rajapaksa will resign on July 13 after tens of thousands of protesters stormed his official residence and that of the prime ...
The country barely has any dollars left to import fuel, which has been severely rationed, and long lines have formed in front of shops selling cooking gas. Another protester, Mr Dushantha Gunasinghe, said he had travelled to Colombo from a town 130km away, walking part of the way because of the fuel crunch. This is just the start."