Mass protests prompt Sri Lankan cabinet to resign
Wednesday, April 6, 2022
Earlier, the President requested all political parties unite to form a national unity government. The proposal was rejected by two political parties,(SJB) and (JVP) who wanted the president to resign.
After the Cabinet resigned, the Governor of thealso announced his resignation.
The economic crisis drove the government to block imports in March 2020 in an attempt to preserve its USD2 billion in reserve as of February, down 70% in the last two years. Sri Lanka needed USD7 billion to finance its USD51 billion debt this year.. Sri Lanka had only about
In the last few weeks, the country has seen an acute shortage of fuel, particularly diesel, leading to protests and empty fuel stations.
In March, the Sri Lankan inflation rate reached 18.7% and food prices rose by 30.1%. Its currency, the, has lost 30% of its value against the US dollar since it was devalued last month ahead of talks with the International Monetary Fund for a bailout.
- Uditha Jayasinghe. "Sri Lanka suffers long power cuts as currency shortage makes fuel scarce" — , March 31, 2022
- "Sri Lanka declares state of emergency as protests spread" — , April 1, 2022
- "Sri Lanka: Reshuffle begins after cabinet quits over protests" — , April 5, 2022
- "Sri Lanka central bank governor submits resignation amid crisis" — , April 5, 2022