Wed | May 18, 2022
Sri Lanka

Prime minister resigns after weeks of protests

Published:Tuesday | May 10, 2022 | 12:11 AM

COLOMBO (AP):

Sri Lanka’s prime minister resigned on Monday following weeks of protests demanding that he and his brother, the country’s president, step down for dragging the nation into its worst economic crisis in decades.

Prime Minister Mahinda Rajapaksa said on Twitter that he submitted his resignation to President Gotabaya Rajapaksa, a move that followed a violent attack by government supporters on the protesters, prompting authorities to deploy armed troops in the capital, Colombo.

Four people, including a ruling party lawmaker, died in Monday’s violence, police spokesman Nihal Thalduwa told the Associated Press. President Rajapaksa imposed a countrywide curfew Monday evening lasting until Wednesday morning.

For more than a month, protests have spread across the country, drawing people across ethnicities, religions and class. For the first time middle-class Sri Lankans also took to the streets in large numbers, marking a dramatic revolt by many former Rajapaksa supporters, some of whom have spent weeks protesting outside the president’s office.

The protests underscored a dramatic fall from favour of the Rajapaksas, Sri Lanka’s most powerful political dynasty for decades. The brothers were once hailed as heroes by many of the island’s Buddhist-Sinhalese majority for ending the country’s 30-year civil war, and despite accusations of war atrocities, were firmly entrenched at the top of Sri Lankan politics until now.

The prime minister’s resignation comes as the country’s economy has swiftly unravelled in recent weeks. Imports of everything from milk to fuel have plunged, spawning dire food shortages and rolling power cuts. People have been forced to stand in lines for hours to buy essentials. Doctors have warned of crippling shortages of life-saving drugs in hospitals, and the government has suspended payments on $7 billion in foreign debt due this year alone.

President Rajapaksa initially blamed Sri Lanka’s economic woes on global factors like the pandemic battering its tourism industry and the Russia-Ukraine conflict pushing up global oil prices. But both he and his brother have since admitted to mistakes that exacerbated the crisis, including conceding they should have sought an International Monetary Fund (IMF) bailout sooner.

Sri Lanka has been holding talks with the IMF to set up a rescue plan but its progress depends on negotiations on debt restructuring with creditors. Any long-term plan would take at least six months to get under way.

Sri Lanka was in financial trouble even before the Ukraine war drove up food and oil prices and made things worse.