Colombo: Sri Lankan Prime Minister Mahinda Rajapaksa has resigned amid growing public discontent over the country’s unprecedented economic crisis. Prime Minister Mahinda Rajapaksa has tendered his resignation to Sri Lankan President Gotabaya Rajapaksa, saying he was ready to resign if his resignation was to resolve the financial crisis. Violence erupted in several cities, including the capital, Colombo, as he resigned. One member of parliament has been killed in an attack by angry protesters. Protesters set fire to the houses of ruling party MPs.
The economic crisis facing Sri Lanka is becoming even more serious in the wake of the Coronavirus pandemic and the Russia-Ukraine war. Sri Lanka’s foreign reserves have fallen below $1 billion and it is not enough to cover even a few days worth of imports. The country has a foreign debt burden of $20 billion. Therefore, the country is nearly bankrupt and the country has expressed its inability to repay the loans. Imports have stagnated due to a shortage of foreign exchange and prices of essential commodities, medicines and fuel have gone beyond the reach of the common man. Ordinary citizens have been forced to stand in queues for hours and there have been instances of scuffles for petty things.
The Sri Lankan people feel that the Rajapaksa family, which has dominated politics for the last two decades, is responsible for the situation in Sri Lanka. The discontent of the Sri Lankan people has erupted and intense protests are being held in the capital Colombo. Last week, Prime Minister Rajapaksa declared a state of emergency to stop the protests. But even after that, the outburst of the masses has not diminished and on the contrary, violent reactions have erupted.
Supporters of Prime Minister Rajapaksa held protests in the capital Colombo to stop him from resigning. At this time, attacks were launched against the anti-government protestors. This further inflamed the protesters, who stormed the homes of government ministers and members of the ruling party. In Colombo, a bus carrying supporters of the ruling party was attacked by a JCB vehicle. Ruling party MP Amarkirti Athukorala was reportedly killed in the violence.
The projects implemented by China under the Belt and Road Initiative and the expensive loans are considered significant factors for Sri Lanka’s economic woes. But China has denied the allegations.
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