Sri Lanka

Thousands of people demonstrated in the capital against the island nation's worst economic crisis in recent memory and demanded President Gotabaya Rajapaksa ...

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Sri Lanka's president is set to resign after demonstrators stormed his home and office Saturday to protest the government's handling of a dire economic ...

President Gotabaya Rajapaksa did not start out in life as a politician, unlike his elder brother Mahinda.

Hit hard by the COVID-19 pandemic and populist tax cuts, Sri Lanka fell into its worst economic crisis since the end of colonial rule. Taking early retirement he emigrated to the United States, where he worked in information technology. Local armed groups allegedly affiliated with ISIL (ISIS) were blamed for the attacks. He reappointed Mahinda as prime minister and a slew of other relatives into ministerial roles, cementing the Rajapaksa family as one of the most dominant in Sri Lanka’s post-independence history. His campaign was little affected by two lawsuits in the United States that accused him of involvement in the abduction and murder of a journalist, as well as being complicit in the torture of a man belonging to the ethnic Tamil community. After the dramatic storming of the president’s official residence by thousands of protesters on Saturday, the speaker of parliament said in a video statement that Rajapaksa had informed him that he would step down on July 13.

The announcement came after thousands of protesters stormed President Gotabaya Rajapaksa's residence in Colombo, following months of protests over his ...

The speaker can appoint a new all-party government but whether they will be accepted by the protesters remains to be seen," said political analyst Kusal Perera. "The president and the prime minister must resign immediately. The fertiliser ban was reversed in November. "The decision to step down on 13 July was taken to ensure a peaceful handover of power," Abeywardena said. "Wickremesinghe has told the party leaders that he is willing to resign as Prime Minister and make way for an all-party government to take over," his office said in a statement. The parliamentary speaker, Abeywardena, said in a letter to Rajapaksa that several decisions had been made at the meeting of party leaders - including the president and the prime minister resigning as soon as possible and parliament being called within seven days to select an acting president.

A crowd of people inside the stately home of Sri Lanka's President. Protests against the Sri Lankan government's handling of the economic crisis have been going ...

- The prime minister says he will step down once a new government is in place - Ranil Wickremesinghe is sworn as the new prime minister— he's a political veteran who has been Sri Lanka's prime minister five times before - The former prime minister is moved to a naval basefor his safety

The speaker of Parliament says President Gotabaya Rajapaksa has agreed to resign, but the president has not been seen since protesters stormed the official ...

Mr. Wijewardena said that in the days to come, Sri Lankans would have to sacrifice modern comforts. The South Asian nation has run out of foreign currency to pay for fuel, bringing its economy grinding to a halt. The country is still in negotiations with the International Monetary Fund to restructure billions of dollars in foreign debt, on which it has defaulted. As the country’s economy appeared to be headed for a crash, he made his brother Basil Rajapaksa the minister of finance last July. The situation has grown so desperate that Sri Lanka has asked President Vladimir V. Putin of Russia for a credit line to buy fuel. Officials have said that many of its traditional fuel suppliers are reluctant to sell to the country, as the state oil company is mired in debt it is struggling to pay off. Mr. Abeywardena, in a televised statement, said the president had informed him he would resign on July 13, “to ensure a peaceful transition of power.” Officials at the Defense Ministry and in the army did not immediately respond to questions about Mr. Rajapaksa’s location. By the evening, Prime Minister Ranil Wickremesinghe, who took office only in May and was also facing demands to resign, said he would step down, saying he had “the safety of all citizens” in mind. Mahinda Yapa Abeywardena, the parliamentary speaker and an ally of the president, announced the development at the end of a chaotic day. In the official residence of President Gotabaya Rajapaksa, who had fled to an unknown location the day before, the protesters swam in the clear blue water of an outdoor pool, while others crowded around the edges. The president, he said, will resign on Wednesday “to ensure a peaceful transition of power.”

Calm returned to the streets of Sri Lanka's commercial capital Colombo on Sunday and protesters were jubilant as President Gotabaya Rajapaksa agreed to ...

The speaker had outlined proposals from a meeting of political parties on Saturday that would include parliament picking an acting president within a week. Some took selfies of the polished interiors, a striking contrast to the misery many have endured. The fertiliser ban was reversed in November. Others set fire to the private home of Prime Minister Ranil Wickremesinghe, who also agreed to resign to make way for an all-party government. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

Sri Lankan protests: 'A big turning point'. Members of the Sri Lankan community in New Zealand are pleased Sri Lanka's president is stepping down, ...

Sri Lanka's speaker's office says under the acting president a new prime minister and an interim government can be appointed. In New Zealand, United Sri Lanka Association president Rangith Nanayakkara said the president should have gone a long time ago. Sri Lanka's prime minister Ranil Wickremesinghe will join President Gotabaya Rajapaksa in stepping down after protesters stormed their homes in a rage over the country's economic crisis.

On island's most chaotic day in months amid economic crisis, protesters storm president's residence and torch PM's home.

The protesters later broke into Prime Minister Ranil Wickremesinghe’s private residence and set it on fire. Outrage over Sri Lanka’s collapsing economy came to a boil on Saturday when tens of thousands of protesters stormed the colonial-era residence of President Gotabaya Rajapaksa and later set the prime minister’s house on fire. On the island’s most chaotic day in months, protesters storm president’s residence and set PM’s home on fire in rage over the economic crisis.

Sri Lanka woke on Sunday to an uncertain future, with both its President and Prime Minister set to step down after thousands of protesters stormed their ...

If both Wickremesinghe and Rajapaksa resign, under the Sri Lankan constitution, the speaker of parliament will serve as acting president for a maximum of 30 days. Fellow journalists who rushed to their aid were then also attacked, Newsfirst reported. Two of the journalists from the Sri Lankan TV channel Newsfirst had their cameras rolling at the time. Among those injured is a lawmaker from eastern Sri Lanka, she added. Protesters also targeted Prime Minister Ranil Wickremesinghe, setting on fire his private residence on Fifth Lane, an affluent neighborhood in the capital. Images show demonstrators inside the whitewashed colonial-era building and hanging banners from the balcony.

Firefighters try to douse a fire at the Sri Lankan prime minister Ranil Wickremesinghe's private residence · Demonstrators protest inside the President's House ...

IMF officials told reporters they were hoping for the situation in Sri Lanka to improve. The economic crisis in Sri Lanka began earlier this year after its government suspended repayment of foreign loans due to a foreign currency shortage. The slogan, “Gota Go Home” was a consistent call, referring to the beleaguered president. A woman who came with her two teenage daughters told Al Jazeera she wanted to see how the presidents lived. The leaders are responsible for what has happened to this country,” K Chandra, a demonstrator, told Al Jazeera. On Sunday morning, many protesters were still camping in the president’s official residence.

Opposition parties in Sri Lanka have begun consultations to form a new government, a day after protesters stormed the president and prime ministers' homes, ...

Protesters stormed the home of President Gotabaya Rajapaksa and set Prime Minister Ranil Wickremesinghe's home ablaze over the country's economic collapse.

“My demand is that we have honest and educated people appointed from the present parliament to take us out of this immediate mess.” Visuals from local media showed a stream of visitors walking through an imposing stairway at the president’s home. Announcements were made to not steal or harm the property. Aid groups say nearly a quarter of the country’s 22 million residents are in need of food assistance. The Senate Foreign Relations Committee, in a tweet, said President Rajapaksa had lost the confidence of the Sri Lankan people. “It was the might of the people on show,” he said. Namal Ratnayake, 40, was part of the protesting crowd that marched toward the president’s office. Ganeshan Wignaraja, an economist at ODI, a U.K.-based global affairs think tank who has been involved in the IMF discussions described the economic situation as “hugely challenging.” In May, similar large-scale protests led to the resignation of Rajapaksa’s older brother Mahinda as prime minister and other family members. The anger over continued economic distress spilled over again, this time in greater force. He had moved out of his home a day ahead of the protests, and his whereabouts remain unknown. On Saturday, angry crowds stormed the presidential residence and office, and celebrated their victory by diving into the swimming pool and lounging on his bed.

Public anger over the country's economic crisis has forced the president and prime minister to agree to resign · Demonstrators in Colombo. · Protesters swimming ...

You may cancel your subscription at anytime by calling Customer Service. Monthslong antigovernment demonstrations took a dramatic turn on July 9, when police were unable to hold back large crowds of protesters who stormed and occupied the official residences of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe. Protesters also set fire to Mr. Wickremesinghe’s private home. Sri Lanka’s sovereign-debt crisis has crippled its economy and sparked months of political turmoil and public unrest.

COLOMBO, July 10 (Reuters) - Sri Lanka's economic crisis looks to have finally toppled President Gotabaya Rajapaksa. Rajapaksa has not commented directly ...

Register now for FREE unlimited access to Reuters.com The crisis has crippled Sri Lanka, once seen as a model for a developing economy. Months later, the COVID-19 pandemic struck. Fuel shortages have led to long queues at filling stations as well as frequent blackouts, and hospitals have run short of medicine. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

A few years ago Sri Lanka's economy was growing strongly enough to provide jobs and financial security for most. It's now in a state of collapse.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Although they live in a democracy, many Sri Lankans blame the politically dominant Rajapaksa family for the disaster. Desperation turned to rage and demonstrations against the government of Suharto, who had ruled Indonesia with an iron fist since 1968. As one of the Asian Tigers, it had worked its way off the aid list,'' said Jackie Pomeroy, an economist who worked on a USAID project in the Indonesian government before joining the World Bank in Jakarta. The Indonesian economy shrank more than 13% in 1998, a Depression-level performance. A few years ago Sri Lanka's economy was growing strongly enough to provide jobs and financial security for most. Indonesia, once touted as an Asian Tiger'' economy, endured Depression-level deprivation in the late 1990s that led to riots and political unrest and swept away a strongman who had held power for three decades. The police and military are separately investigating the incident. Food price inflation is running at 57%, according to government data, and 70% of Sri Lankan households surveyed by UNICEF last month reported cutting back on food consumption. Foreign exchange reserves plummeted, leaving Sri Lanka unable to pay for imports or defend its beleaguered currency, the rupee.

Sri Lankans are skipping meals as they endure shortages on food and fuel.

Meanwhile the Sri Lankan rupee has weakened in value to about 360 to the US dollar. The prime minister appeared to be underscoring the challenges facing his government as it seeks help from the IMF and confronts criticism over the lack of improvement since he took office weeks earlier. The stark declaration in June by Wickremesinghe, who is in his sixth term as prime minister, threatened to undermine any confidence in the state of the economy and didn't reflect any specific new development. Earlier in June, the United Nations launched a worldwide public appeal for assistance. The government needed to boost its revenues as foreign debt for big infrastructure projects soared, but instead Rajapaksa pushed through the largest tax cuts in Sri Lankan history. Sri Lanka's prime minister said late last month that the island nation's debt-laden economy had "collapsed" as it runs out of money to pay for food and fuel. Growing numbers of Sri Lankans are seeking passports to go overseas in search of work. The tax cuts were recently reversed, but only after creditors downgraded Sri Lanka's ratings, blocking it from borrowing more money as its foreign reserves sank. And its currency has collapsed by 80 per cent, making imports more expensive and worsening inflation that is already out of control, with food costs rising 57 per cent, according to official data. Tourism, an important engine of economic growth, has sputtered because of the pandemic and concerns about safety after terror attacks in 2019. Sri Lankans are skipping meals as they endure shortages and lining up for hours to try to buy scarce fuel. Tropical Sri Lanka normally is not lacking for food, but people are going hungry.

If both president and prime minister resign, Speaker Mahinda Yapa Abeywardena will take over as temporary president, according to the constitution.

Protesters later broke into the prime minister's private residence and set it on fire, Wickremesinghe's office said. Video and pictures showed jubilant crowds splashing in the garden pool, lying on beds and using their cellphone cameras to capture the moment. Thousands of protesters entered the capital Colombo on Saturday and swarmed into Rajapaksa's fortified residence.

Protests in Sri Lanka, which forced out the president and prime minister, signal tough choices ahead for other countries with high debt and shortages of ...

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Sri Lanka with an acute foreign currency crisis that resulted in foreign debt default, had announced in April that it is suspending nearly $7 billion ...

Meanwhile the Sri Lankan rupee has weakened in value to about 360 to the U.S. dollar. The prime minister appeared to be underscoring the challenges facing his government as it seeks help from the IMF and confronts criticism over the lack of improvement since he took office weeks earlier. Earlier in June, the United Nations launched a worldwide public appeal for assistance. The stark declaration in June by Wickremesinghe, who is in his sixth term as prime minister, threatened to undermine any confidence in the state of the economy and didn’t reflect any specific new development. Sri Lanka has suspended repayment of about $7 billion in foreign loans due this year out of $25 billion to be repaid by 2026. The government needed to boost its revenues as foreign debt for big infrastructure projects soared, but instead Rajapaksa pushed through the largest tax cuts in Sri Lankan history. Growing numbers of Sri Lankans are seeking passports to go overseas in search of work. The tax cuts were recently reversed, but only after creditors downgraded Sri Lanka’s ratings, blocking it from borrowing more money as its foreign reserves sank. And its currency has collapsed by 80%, making imports more expensive and worsening inflation that is already out of control, with food costs rising 57%, according to official data. The push for organic farming caught farmers by surprise and decimated staple rice crops, driving prices higher. Another group of protesters entered the private residence of Prime Minister Ranil Wickremesinghe and set it on fire. Tropical Sri Lanka normally is not lacking for food, but people are going hungry.

Prime minister as well as Rajapaksa will step down after months of protests culminated in attacks on their homes.

But it was not followed up by an official address or letter of resignation and on Sunday he still remained in hiding, reportedly under the protection of the military. President Rajapaksa had been facing months of sustained protests calling for him to step down from power but he had repeatedly refused. Wickremesinghe, whose private residence was set alight by protesters on Saturday, emphasised that the country was facing critical times and needed a stable government. Many of the protesters who have been demonstrating against President Rajapaksa are not supportive of many of the MPs, who they view as still part of the political establishment that caused Sri Lanka’s downfall. Soldiers were deployed around the city and the chief of defence staff, Shavendra Silva, called for public support to maintain law and order. The president’s whereabouts was unknown.

COLOMBO, Sri Lanka -- Sri Lanka's opposition political parties will meet Sunday to agree on a new government a day after the country's president and prime ...

Protesters later broke into the prime minister’s private residence and set it on fire, Wickremesinghe’s office said. The president’s older brother resigned as prime minister in May after violent protests saw him seek safety at a naval base. Video and pictures showed jubilant crowds splashing in the garden pool, lying on beds and using their cellphone cameras to capture the moment.

Thousands occupying the presidential palace are determined to stay until both the president and PM step down officially.

The economic crisis in Sri Lanka began earlier this year after the government suspended repayment of foreign loans due to a foreign currency shortage. Opposition parties were meeting in the capital on Sunday to agree on a new government. “Farmers are not being able to cultivate, fisherman have not been able to go to the sea … so support for regime change is island wide,” Kadirgamar said. Wickremesinghe had been part of crucial talks with the IMF for a bailout programme and with the World Food Programme to prepare for a predicted food crisis. Playwright Ruwanthie de Chickera told a news conference at the main protest site in Colombo: “The president has to resign, the prime minister has to resign and the government has to go”. Protesters in Sri Lanka’s capital Colombo continue to occupy the offices of the president and prime minister for a second consecutive day, vowing they will stay put until both officially have resigned.

Good morning. We're covering the resignation of Sri Lanka's president, election results in Japan and Russia's bombardment of Donetsk, Ukraine.

Now, at least one has returned to the city’s streets, thanks to two pilots who pooled their savings to buy and restore the relic. “All my memories came back,” said one woman who used to ride hot dog buses in high school and who brought her 4-year-old son for the experience. Last week, Russia established a civilian administration and unveiled a new flag in border areas under its control — a sign, analysts said, that Moscow plans to annex the territory. “Back then, there was freedom, money and a whole lot of warmth,” Tong, 35, said. Russia has aggressively moved to take the entire Donbas region of Ukraine after seizing the Luhansk province last week. With inflation pressures mounting, the yen weakening, the war in Ukraine heightening fears of energy shortages and coronavirus infections rising, it could be a harder sell than ever. Maria Ressa, the Nobel Prize laureate, lost her appeal against a cyberlibel conviction and could face a lengthy prison sentence,The Guardian reports. It’s unclear what the next government will look like and what it can do immediately to address shortages of food, medicine, fuel and other essentials. But without him, the will to push revisions through a difficult parliamentary process could wane. Rajapaksa himself has not yet addressed the reports that he plans to resign later this week, and it’s unclear who is in charge. - Updates: To receive the latest updates in your inbox,sign up here. South Korea is known for its blazing broadband and innovative devices.

Protesters have said they will continue to occupy the Sri Lankan presidential and prime ministerial residences until both leaders officially resign.

"When the whole country is under such strain people have come here to release that pressure. Dozens of people were injured in Saturday's protests. He had said on Saturday that he was willing to resign to ensure the safety of civilians and to make way for an all-party government, but soon after his announcement videos started circulating of his house up in flames. The prime minister lives with his family in the private home and uses his official residence for official business only. The contrast between the luxury of the palace and the months of hardship endured by the country's 22 million people was not lost on the protesters. The extraordinary events of Saturday appeared to be the culmination of months of mainly peaceful protests in Sri Lanka.

Leaders of Sri Lanka's protest movement say they will occupy the residences of the President and Prime Minister until the political leaders finally quit ...

"So the path is very clear what needs to be done for the next six months, that would be priority number one. "I was meant to come into work and a big problem happened. "We are at a crossroads. N A Ajith is one of the security guards at the President's house. "There has to be experience-sharing of the type of reform Australia did to get the economy to where it is today." "The first thing is, Australia is a member of the Quad and the Quad has an explicit stance on trying to help Sri Lanka starting with India," Mr Jafferjee said. "If you are removing the entirety of the executive presidency, you need to go to the people at a referendum." "The next government, the first thing is to try to finalise an IMF program which will require a debt restructuring," Mr Jafferjee said. "So we need to have an election, I believe the minimum period is six weeks to put in place a new government with a new mandate that will have stability in Parliament, and most importantly, legitimacy." "If you want to really take out the executive presidency, you will need to have it not only pass through to those which are to Parliament, but also moved to the people at a referendum," Saliya Peiris, from Sri Lanka's Bar Association, said. "The most important thing is that you need the political legitimacy and I'm afraid that the government that we have at the moment does not have legitimacy," he said. "I'm a security guard at the President's residence and I hope my job will be secure because I'm the father of two children and struggling."

Sri Lanka's opposition parties met on Sunday to agree on a new government a day after the president and prime minister offered to resign following the most ...

"Together with the bishops of the country, I renew my appeal for peace, and I implore those who have authority not to ignore the cry of the poor and the needs of the people.'' "If these kinds of incidents keep on going, we can wave bye-bye to the IMF and any international assistance that is going to come to the country," he said. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. He later moved into a house in Colombo. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement. The chief of defence staff, Shavendra Silva, called for public support to maintain law and order. Protesters remained in President Gotabaya Rajapaksa's residence, his seaside office and the prime minister's home, saying they would stay until the resignations are official. The president's older brother resigned as prime minister in May after violent protests saw him seek safety at a naval base. "Therefore, if this government leaves there should be another government." "I unite myself to the pain of the people of Sri Lanka, who continue to suffer the effects of the political and economic instability," the pontiff said. "Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF," he said. Wickremesinghe had been part of crucial talks with the International Monetary Fund for a bailout program and with the World Food Program to prepare for a predicted food crisis.

Sri Lanka's opposition parties are trying to cobble together an all-party government and pick candidates who can take over after President Gotabaya ...

Sri Lanka's President Gotabaya Rajapaksa has informed Prime Minister Ranil Wickremesinghe that he will resign, the prime minister's office said on Monday, ...

The country barely has any dollars left to import fuel, which has been severely rationed, and long lines have formed in front of shops selling cooking gas. This government needs to go home and we need better leaders." Foreign exchange reserves were quickly depleted as oil prices rose. "I came alone all this way because I believe we need to see this through. Another protester, Dushantha Gunasinghe, said he had travelled to Colombo from a town 130 km (80 miles) away, walking part of the way because of the fuel crunch. "The people's struggle is for wider political reforms.

Local reports say President Gotabaya Rajapaksa officially informed Prime Minister Ranil Wickremesinghe that he will be resigning on Wednesday. He has been in ...

However, there was no official word their whereabouts. A defence source said Rajapaksa, along with one of his brothers — Basil — was heading to a naval base in the northeast of the island. On Sunday the presidential palace was a free-for-all, with children and parents plonking on a grand piano, admiring the expensive artwork, picnicking and taking it in turns to sit in the president's chair. From the naval ship, 73-year-old Rajapaksa — who had clung to power even after deadly nationwide violence in May forced his brother Mahinda Rajapaksa to quit as prime minister — told the speaker of Parliament he would step down on Wednesday. Troops had fired in the air to help Rajapaksa escape on Saturday. The president then boarded a naval craft which steamed to the safety of the island's southern waters. He has been in hiding after fleeing the country on a Navy vessel when crowds in their hundreds of thousands descended on his home in Colombo.

Sri Lanka's opposition parties met Sunday to agree on a new government a day after the president and prime minister offered to resign.

"Together with the bishops of the country, I renew my appeal for peace, and I implore those who have authority not to ignore the cry of the poor and the needs of the people.'' "If these kinds of incidents keep on going, we can wave bye-bye to the IMF and any international assistance that is going to come to the country," he said. Its total foreign debt amounts to $51 billion, of which it must repay $28 billion by the end of 2027. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement. Protesters remained in President Gotabaya Rajapaksa's residence, his seaside office and the prime minister's home, saying they would stay until the resignations are official. The chief of defense staff, Shavendra Silva, called for public support to maintain law and order.

Protest movements produce powerful symbols. Images of the citizens of Sri Lanka storming the presidential residence of the man who steered their country ...

When they started swimming in Gotabaya Rajapaksa’s pool, cooking in his kitchen and working out in the official gym, he had to know it was over for his family’s reign of economic destruction. For the first time since demonstrations began in March in the capital, Colombo, soldiers were seen joining the protests. Images of the citizens of Sri Lanka storming the presidential residence of the man who steered their country into financial ruin and then refused to step down sent a pointed message.