Facing public ire, Sri Lanka's President to 'review executive powers'

Expands Cabinet ahead of IMF talks; Mahinda stays on

After weeks of defiance Sri Lanka’s President Gotabaya Rajapaksa said he’s open to changes in the nation’s constitution to appease protesters calling for his ouster, likely setting the stage for curbing the executive’s sweeping powers as the nation’s deepening economic crisis has boiled over into political turmoil. 

“To take the economy on a right direction, to meet the expectations of the younger generation is the duty of the government,” the president said at a ceremony swearing in new cabinet members Monday, adding that while “respecting the supreme constitution” he was ready “if necessary to make changes in the future, and save the country from the economic crisis.”

The embattled president announced 17 new ministerial appointments on Monday, notably leaving out members of his own family, and expressed regret for his government's handling of a devastating economic crisis that has led to widespread protests.

President Gotabaya Rajapaksa and his elder brother, Prime Minister Mahinda Rajapaksa, will stay on despite demands from protesters and the opposition for them to quit. Rajapaksa has governed the South Asian island nation since 2019 with other family members in top government positions.

Only five members of the previous cabinet were sworn in again, while most other portfolios were allocated to members of the ruling Sri Lanka Podujana Peramuna party.

Among those not re-appointed from the previous cabinet were two more of the president's brothers, Basil and Chamal, and the prime minister’s son Namal.

The government is set to begin talks with the International Monetary Fund (IMF) for a loan programme, and analysts have flagged political instability as a risk to Sri Lanka finding a way out of its financial turmoil.

Credit rating agency Moody’s downgraded the country's debt rating on Monday, putting it even deeper in “junk” territory.

In a speech to his new cabinet, President Rajapaksa said the country should have sought help from the IMF sooner - as urged by opposition parties and experts. “I believe that we should have gone for a programme with the International Monetary Fund earlier,” he said, according to a statement issued by his office.

“Today, people are under an immense pressure due to this economic crisis. I deeply regret... this situation.,” the president said. “The pain, discomfort and anger displayed by the people for having to spend time in queues to get essential items at a high price...is justified.”

Thousands of Sri Lankans have been protesting outside the president’s office in Colombo for over a week, demanding that the Rajapaksas resign. 

Faced with growing popular unrest Rajapaksa dissolved his previous cabinet earlier this month and invited all parties in parliament to form a unity government, but opposition groups and members of the ruling alliance rejected the idea.