Sri Lanka Faces The Worst Economic Crisis In History, Protestors Take Over President’s House

Island country Sri Lanka is currently facing the wrath of thousands of angry citizens that forced its President Gotabaya Rajapaksa to flee from his official residence in Colombo before they broke into his house, a report by The Times Of India suggested.

Not just him, Prime Minister Ranil Wickremesinghe was also moved to a safer abode before fierce protestors barged into their government residents claiming that the leaders weren’t able to handle the country’s deteriorating economic health which today might lead to a collapse.

Following the aggressive protest in the country, the President has announced that he will resign on July 13. Until then, the countrymen have taken over his property and will move out only after he has resigned from his post. PM Wickremesinghe also said that he will quit once a new government is formed.

Situations in the country went South when the Sri Lankan President declared an economic emergency in the country on September 1, 2021, under the Public Security Ordinance to contain the worst economic crisis in history it is faced with today, reported The Financial Express. It was also announced to prevent hoarding of food and other essentials.

The coronavirus-induced pandemic put a stop to tourism in Sri Lanka which compounded to 10% of its GDP and was a major source of its foreign exchange. The rapidly depleting forex reserves, depreciating currency, rising food prices in the country, and the political turmoil are also the reason why the country is in crisis today.

Moreover, the ban on the use of chemical fertilizers in farming has also reportedly led to a reduction in agricultural production. There is close to no fuel in the country forcing people to stay in the queue for 4-5 days to procure it.

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As the Sri Lankan protestors take over the President’s home, this is what they are up to:

As far as India is concerned,  it has denied all rumors that suggest we have sent additional troops to Sri Lanka. The Spokesperson of the Ministry of External Affairs of India also stated that India stands with the people of Sri Lanka.

According to DNA, MEA Spokesperson Arindam Bagchi said, “India is Sri Lanka’s closest neighbor and our two countries share deep civilizational bonds. We are aware of the many challenges that Sri Lanka and its people have been facing, and we have stood with the Sri Lankan people as they have tried to overcome this difficult period.”

As of now, the situation is tense in the island nation. We stand in solidarity with the country. This is surely a lesson for all governments.

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