sri lanka crisis

22 Jul

Dinesh Gunawardena sworn in as Sri Lanka’s new Prime Minister

editorinternational, Politicalsri lanka crisis

Senior Sri Lankan lawmaker Dinesh Gunawardena was sworn in on Friday as the new PM, his office said, a day after the swearing-in of a new president as the Indian Ocean state grapples with its worst monetary disaster in decades. The action came simply hours after protection forces raided a protest camp on government grounds in the fundamental city of Colombo and cleared section of it, with at least nine arrests, as the new administration strikes to crack down on protesters. A former minister from the Podujana Peramuna party, Gunawardena took the oath of office in the presence of Wickremesinghe,…

18 Jul

India emerges as top lender to Sri Lanka in first 4 months of 2022

editorIndia, internationalsri lanka crisis

India emerged as the pinnacle lender to Sri Lanka during the first four months of this year, extending credit really worth $376.9 million, in contrast to $67.9 million from China, as the island country grapples with its worst financial crisis. A scarcity of foreign exchange has left Sri Lanka struggling to pay for imports of food, medication and energy for its populace of 22 million people. Last month, the usa defaulted on foreign debt and inflation has multiplied with the aid of about 50%. The scenario precipitated big protests that led to the resignation of President Gotabaya Rajapaksa. India topped…

15 Jul

Sri Lanka Crisis: President Gotabaya Rajapaksa’s resignation confirmed by Speaker

editorPoliticalsri lanka crisis

Sri Lanka’s President Gotabaya Rajapaksa has formally resigned, Speaker Mahinda Yapa Abeywardena introduced Friday morning, ending days of uncertainty considering the broadly despised chief fled the island, dislodged by means of monumental public protests over a grave financial crisis. Mr. Gotabaya, presently in Singapore, had sent his resignation letter with the aid of e mail on Thursday, however the Speaker’s office said its authenticity and legality had to be proven earlier than it should be accepted. Tens of hundreds of demonstrators stormed the President’s workplace and domestic last weekend, forcing the President to flee for his life, first to the…

14 Jul

Sri Lanka Crisis: Plane carrying President Gotabaya lands in Singapore

editorinternationalsri lanka crisis

The Sri Lankan financial disaster is escalating through the minute with President Gotabaya Rajapaksa refusing to step down. He appointed Prime Minister Ranil Wickremesinghe the appearing President after he fled to Male, Maldives, with his wife and two staffers on Wednesday, infuriating protesters further. Protesters have so a ways taken over the Presidential palace, PM’s office, PM’s house, and the nation broadcaster. Leader of the Opposition Sajith Premadasa known as the government’s actions hence a ways “total anarchy”. Singapore said on Thursday it had allowed Sri Lankan President Gotabaya Rajapaksa to enter the city-state on a "personal visit" and that…

11 Jul

Sri Lanka Crisis: Parliament to elect new President on July 20

editorinternational, Politicalsri lanka crisis

Sri Lanka Parliament Speaker in a statement on Monday said that the House will reconvene from July 15 while a new president for the crisis-hit country will be elected on July 20. Sri Lanka’s complete Cabinet of ministers on Monday agreed to resign once an settlement is reached on the formation of an all-party meantime government, Prime Minister Ranil Wickremesinghe’s workplace said after the president and premier presented to resign. Meanwhile, the Governor of the Central Bank of the us of a said that negotiations are on the India over a $1 billion swap. When requested if he would resign,…

10 Jul

Sri Lanka Economic crisis: As Gotabaya flees, protesters swim in Presidential pool, flex at his gym

editorEconomy, internationalsri lanka crisis

As the financial disaster in Sri Lanka escalates, hundreds of protestors on Saturday stormed the presidential palace in Colombo and made themselves home, enjoying the luxuries reserved for the President and his family. The protesters had been considered taking dips in the swimming pool, working out at the presidential gym, and gorging on the meals in the President’s kitchen. Sri Lankan President Gotabaya Rajapaksa, meanwhile, was once compelled to flee amid the escalating violence and demand for his resignation. It was once the country’s most chaotic day in months of political turmoil, Sri Lanka’s president and high minister agreed to…

31 May

Sri Lanka economic crisis: Kerala airport makes moolah as flights to Colombo make pit stop to refuel

editorBusiness, internationalsri lanka crisis

Sri Lanka's significant financial meltdown appears to be benefiting Kerala's Thiruvananthapuram Global Airport. As the financial crisis worsens, long-haul flights from Sri Lanka are being fueled at Thiruvananthapuram International Airport. Sri Lankan Airlines now prefers Thiruvananthapuram airport for fueling as it is the nearest international airport to Colombo. Thiruvananthapuram Airport, which is managed by Adani Airports, has a huge financial gain from the rates paid for parking and landing of aircraft. Also, gas tax will increase the revenue of central and state governments. But when flights run out of fuel, passengers are no longer allowed to board. But the airways…

09 Apr

Sri Lanka May Have No Diesel By April End Despite India’s Help

editorinternational, Politicalsri lanka crisis

Sri Lanka is predicted to exhaust $500 million in fuel resource furnished by means of India to mitigate the island nation’s power crisis with the shipping of 120,000 tons of diesel and 40,000 heaps of petrol over the subsequent two weeks. India is scheduled to ship three 40,000 ton-shipments of diesel on April 15, 18 and 23, with a petrol cargo of the equal volume to be despatched on April 22. India on Wednesday despatched two extra fuel consignments to Sri Lanka – 36,000 lots of petrol and 40,000 heaps of diesel. Amid fears Sri Lanka may run out of…

08 Apr

Sri Lanka constitutes expert panel, imposes tax on rich

editorinternational, Politicalsri lanka crisis

Sri Lankan President Gotabaya Rajapaksa has formed a professional panel to bail out his United States from an exceptional financial disaster characterized by shortages of essential goods and massive protests. A panel of eminent economists has been mandated to come up with a solution of $8. 6 billion dollars in debt and inflation, luring the IMF and various potential lenders. The President's Advisory Group on Multilateral Engagement and Debt Stability will include Indrajit Kumaraswamy, former Governor of the Central Bank of Sri Lanka and former Director of Financial Affairs at the Commonwealth Secretariat, an announcement issued from the Office of…

07 Apr

Sri Lankan President Revokes State Of Emergency; Protests Spread

editorinternational, Politicalsri lanka crisis

Sri Lankan President Gotabaya Rajapaksa revoked the emergency rule ordinance that had long past into effect on April 1 the day gone by as protests spread in the island united states amid the nation's worst economic disaster in decades. Earlier on Tuesday, Sri Lanka's President lost his parliamentary majority as former allies advised his resignation. Severe shortages of food, fuel and different necessities -- along with file inflation and crippling power cuts -- have inflicted large misery in the country's most painful downturn since 1948. Massive protests reflect public anger which is at a fever pitch in the united states…