News Break
Sri Lanka’s president Gotabaya Rajapaksa has fled to Maldives days after angry protestors occupied his presidential Palace demanding his resignation over the country’s worsening economic crisis.
Gotabaya appointed his Prime Minister Ranil Wickremesinghe to act as acting President even though the protestors are demanding his resignation as well.
Sources have told Nyanza Daily that the Prime Mnister has declared a state of emergency and ordered the military to do whatever is necessary to restore order after protesters stormed his offices on Wednesday.
Sri Lanka is going through its worst economic crisis in decades after its debt-laden economy “collapsed” as the country runs out of money to pay for food, fuel and medicine.
Sri Lanka is relying on help from India, China and the International Monetary Fund (IMF) with the prime minister who took office in May saying the economy was heading for “rock bottom”.
Frustrated citizens have been skipping meals as they queue to buy scarce fuel and cooking gas with the government owing $51bn and unable to make interest payments on its loans.
The country’s tourism industry which contributes to its economic growth has been severely affected by the COVID-19 pandemic while its currency has collapsed by 80 percent, making imports expensive and worsening inflation.
