Sri Lanka spirals into crisis
May 12, 2022 - Sri Lanka’s main opposition party joined anti-government protesters in rejecting the appointment of a new prime minister and insisted the president resign to take responsibility for the country’s economic crisis, Reuters reports.
President Gotabaya Rajapaksa appointed veteran opposition lawmaker Ranil Wickremesinghe as prime minister in a bid to end the crisis, but opposition comments signalled it was not likely to resolve the political and economic crisis.
An economic crisis, caused by the COVID-19 pandemic and economic mismanagement, has drained the country of money to pay for fuel, medicine and other vital supplies, meaning lengthy blackouts and long queues for gasoline. Food prices are soaring.
The Sri Lankan rupee has fallen more than 37 per cent against the dollar this year and food prices in March leapt 30 per cent year on year.
The president’Ns elder brother, Mahinda Rajapaksa, quit as prime minister on Monday as violence spiralled and is in hiding in a military base.