- In Sri Lanka, the country’s political parties want to find a way out of the crisis.
- They want to work out a succession plan for President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe.
- Hundreds of thousands demonstrated against the government in the capital Colombo on Saturday.
- The road out of the economic crisis is likely to be a long and rocky one for the country.
One day after the serious riots in Sri Lanka, discussions about the country’s political future continue. The leading political parties have announced talks for Sunday evening (local time) to discuss a possible succession arrangement for the ruling duo of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe. Both had offered their resignation through various channels on Saturday.
Prime Minister says Sri Lanka is ‘bankrupt’
Thousands of demonstrators are still holding out in the capital Colombo and in front of the President’s residence. On Saturday there were spectacular scenes when hundreds of demonstrators stormed the palace and got inside the presidential palace. Video footage of demonstrators inside the opulent residence then circulated on social media. A day later, it is still not clear whether President Rajapaksa was there himself and where he is now.
Late on Saturday evening (local time), a parliamentary speaker announced that Rajapaksa had announced his resignation for next Wednesday (July 13). So far, however, the statement has not been further commented on by the President. According to his own statements, Prime Minister Wickremesinghe is also ready to resign – but it is also unclear when this will happen.
Representatives of the protesters announced on Sunday that they would stay put until Rajapaksa resigned.
Legend:
President Gotabaya Rajapaksa
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A possible new government would face a major challenge. Economists do not assume that a quick solution to the economic crisis is possible. The country’s donors, such as the International Monetary Fund, could also be critical of a change of government, as Prime Minister Wickremesinghe recently initiated important support measures for the national economy.
Sri Lanka owes a total of over US$50 billion to foreign creditors. In April, Prime Minister Wickremesinghe’s government suspended payments without further ado because foreign currency was no longer available. The country was “bankrupt”, he said.