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Sri Lanka in crisis lifts state of emergency

Faced with unprecedented economic and anti-government protests, the Sri Lankan government lifted the state of emergency on Saturday, almost two weeks after the state of emergency was imposed on the entire island nation.

Sri Lankan President Gotabaya Rajapaksa, who participated in the fighting, issued a state of emergency from midnight on May 6 in the midst of rising national anti-government protests against the economic crisis.

The presidential secretariat said the state of emergency was lifted from midnight on Friday, Hill News reported. This move was accompanied by an improvement in the state of law and order in the island nation. With the state of emergency, police and security forces arbitrarily arrested and wiped out detention.

The president’s state of emergency decision accused the powerful Rajapaksa clan of mistaking the economy of an already pandemic island nation, in the midst of weeks of protests demanding his resignation and government. there were. Nine people were killed and more than 200 were injured in a clash between protesters of government supporters and rebels.

Worst economic crisis

Sri Lanka has faced the worst economic crisis since its independence from the United Kingdom in 1948. Part of the cause of the crisis is a shortage of foreign currency, which means that the country cannot afford to import staple foods and fuels, leading to serious situations. Shortages and very high prices.

Inflation surged to 40%, shortages of food, fuel and medicines, and power outages in rolling power caused the government to run out of foreign exchange reserves to pay for imports, causing national protests and currency plunges. ..

New York-based rating agency Fitch downgraded debt-stricken Sri Lanka’s sovereign rating to “restricted defaults” after the country failed to pay international sovereign debt. On April 12, Fitch downgraded Sri Lanka to “C”.

Published to

May 21, 2022

Sri Lanka in crisis lifts state of emergency

https://www.thehindubusinessline.com/news/world/crisis-hit-sri-lanka-lifts-state-of-emergency/article65442244.ece Sri Lanka in crisis lifts state of emergency

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