Sajith Premadasa, leader of the Opposition alliance marches along with others towards Independence Square as they shout slogans against President Gotabaya Rajapaksa after the government imposed a curfew, in Colombo, Sri Lanka April 3, 2022. (Reuters)Sri Lanka Economic Crisis Live Updates: The central bank of Sri Lanka will hold its monetary board meeting on Monday after Governor Ajith Nivard Cabraal tendered his resignation. “The Monetary Board meeting will be held on Monday as previously scheduled. There is no change,” news agency Reuters quoted two sources close to the matter as saying.
President Gotabaya Rajapaksa Monday invited the Opposition to accept ministerial portfolios. A statement by his office informed that the President called on all parties to come together and help find a way out of the country’s worst economic crisis. He named four Ministers on Monday “to ensure Parliament and other tasks can be conducted in a lawful manner until a full Cabinet can be sworn in” after all 26 Cabinet Ministers resigned on Sunday night. Replacing his brother Basil Rajapaksa, the President named Ali Sabry, who was until Sunday night the Minister of Justice, as the new Finance Minister. Previous ministers of Foreign Affairs, Education and Highways kept their positions, Reuters reported.
A coalition partner, however, has slammed the appointments, with Udaya Gammanpila, the chief of one of the 11 political parties comprising the ruling coalition, calling the new cabinet “old wine in a new bottle”. Gammanpila called for Parliamentary elections, stating, “People should decide their next leaders, not anybody else.”
A Sri Lankan man shouts anti government slogans during a protest outside Sri Lankan president's private residence on the outskirts of Colombo, Sri Lanka, Thursday, March 31, 2022. (AP)
The central bank of Sri Lanka will hold its monetary board meeting on Monday after Governor Ajith Nivard Cabraal tendered his resignation. "The Monetary Board meeting will be held on Monday as previously scheduled. There is no change," news agency Reuters quoted two sources close to the matter as saying.
Sri Lankan President Gotabaya Rajapaksa on Monday fired his brother and Finance Minister Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the island nation's worst economic crisis. Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis. --PTI
In a protest on Sunday, Opposition leaders demanded the resignation of Sri Lankan President Rajapaksa. They also protested against the curfew, which was imposed by the government till Monday morning, calling it an infringement of rights.
"Four ministers were appointed to ensure Parliament and other tasks can be conducted in a lawful manner until a full Cabinet can be sworn in," Rajapaksa's media office said in a statement after cabinet ministers resigned in a bid to resolve the crisis. It said Justice Minister Ali Sabry would be the new finance minister, replacing Gotabaya's brother Basil Rajapaksa. Previous ministers of foreign affairs, education and highways will keep their positions.
Udaya Gammanpila, the chief of one of the 11 political parties comprising the ruling coalition, rejected Rajapaksa's move, calling the new cabinet "old wine in a new bottle". "Our demand is for an all-party interim government to restore essential services and to hold a parliamentary election," Gammanpila of the Pivithuru Hela Urumaya party wrote on Twitter. "People should decide their next leaders, not anybody else." (Reuters)
Following the mass resignation of Cabinet ministers Sunday night, President Rajapaksa on Monday announced at least four new Ministers, according to news agency PTI.
Replacing his brother Basil Rajapaksa, the President named Ali Sabry, who was until Sunday night the Minister of Justice, as the new Finance Minister. G L Peiris has been retained as the Foreign Minister, Dinesh Gunawardena as the Education Minister and Johnston Fernando as the Minister of Highways.
Sri Lankans on Monday continued to protest against President Rajapaksa, demanding his resignation. They carried cards with slogans like "Go Home Gota" and "Rajapaksa Resign" and asserted that they are not "extremists".
President Gotabaya Rajapaksa Monday named GL Peiris as the Foreign Minister.
This came after all 26 Ministers of Sri Lankan Cabinet resigned on Sunday evening.
Sri Lankan President Gotabaya Rajapaksa on Monday removed his brother and Finance Minister Basil Rajapaksa from his post amidst the worst economic crisis that has plagued the island nation.
Hee has been replaced by Ali Sabry, who was until Sunday night the Minister of Justice. (PTI)
In a message to Prime Minister Narendra Modi, Sajith Premadasa, the leader of the Opposition alliance in Sri Lanka said, "Please try and help Sri Lanka to the maximum possible extent. This is our motherland, we need to save our motherland."
President Gotabaya Rajapaksa Monday invited all political parties represented in parliament to accept ministerial portfolios to help find a way out of the country’s worst economic crisis in decades, Reuters reported.
A statement by his office read, “President Gotabaya Rajapaksa invited all political parties to come together to find solutions to the ongoing national crisis. Considering this a national need, the time has come to work together for the sake of all the citizens and future generations.”
Sri Lanka's Colombo Stock Exchange on Monday said it has halted trading of shares for 30 minutes due to a sharp fall in the benchmark share price index.
"Please note that the Market has been halted for 30 minutes due to the S&P SL20 index dropping over 5% from the previous close," the bourse said on its website. "The halt will be lifted at 11.02 A.M." (Reuters)
Sri Lankan central bank governor Ajith Nivard Cabraal said on Monday that he submitted his resignation in the context of all cabinet ministers resigning.
Youth and Sports Minister Namal Rajapaksa, nephew of Gotabaya and the son of Prime Minister Mahinda Rajapaksa, said on Twitter on Monday he had told the president's secretary about his resignation with immediate effect. He hoped it would help the president and prime minister's "decision to establish stability" for Sri Lankans and the government.
As political turmoil deepened in the crisis-hit country, the shortage of fuel continued to impact Sri Lankans on Monday. People waited in long queues at a fuel-filling station, which is being guarded by security personnel amid massive protests across the country.
The 36-hour curfew, which was imposed amid anti-government protests across the country over its worst economic crisis, was lifted on Monday morning.
However, the country is still under the effect of a state of emergency, which was declared after an angry mob surrounded the private residence of President Gotabaya Rajapaksa on March 31.
Sajith Premadasa, Leader of Opposition in Sri Lanka, stated the country is calling for a "wholesale change".
"What we ask for is a pathbreaking wholesale change that brings about relief to the country, not relief to politicians...not a game of musical chairs where politicians exchange their positions," he was quoted as saying.
With all 26 Ministers resigning from the Sri Lankan Cabinet on Sunday evening, Sajith Premadasa, Leader of Opposition in Sri Lanka called the move "melodrama".
"It's a melodrama that is being enacted to dupe the people of our country. It's not a genuine effort towards bringing some sort of relief to the people of our country. It's an exercise in fooling the people," Premadasa was quoted as saying by news agency ANI.
The government ramped up security in Colombo as scores of Sri Lankans and Opposition leaders defied curfew to protest the rising inflation and unemployment in the country.
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Government coalition parties are demanding that a caretaker Cabinet be appointed to pull the country out of the crisis. The resignation of the Cabinet appears to be an effort to pacify the people, who are protesting countrywide to hold the president and the entire Rajapaksa family responsible for the economic meltdown in Sri Lanka.
Sri Lanka's political power is concentrated in the Rajapaksa family. In addition to brothers being president and prime minister, two other brothers are ministers of finance and irrigation. Namal was also a Cabinet minister until he resigned.
A Sri Lankan couple with their infant joins an anti-government protest during a curfew in Colombo, Sri Lanka, Sunday, April 3, 2022. (AP)
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