Sri Lanka cabinet clears proposal to clip President Rajapaksa's power

Decision follows announcement from main opposition party that it has garnered enough support for a no-trust vote against the government.

Sri Lanka’s cabinet approved a plan to abolish constitutional amendments that gave President Gotabaya Rajapaksa wide-ranging executive powers, acceding to one of the key demands from citizens protesting his economic policies as the ruling family tries to stay in office.

A proposal by Prime Minister Mahinda Rajapaksa--the president’s brother--to return to the 19th amendment of the constitution “with necessary changes” has been approved, government spokesman Rohan Welivita said in a statement Monday. He didn’t specify the changes. 

The decision follows an announcement from officials of the main opposition party earlier Monday that they have garnered enough support for a no-confidence vote against the government. Demonstrators angry about Asia’s fastest inflation and shortages of food and fuel have been demanding the administration repeal the so-called 20th amendment that amassed extraordinary powers for the president, while also calling for the Rajapaksas to step down.

The political developments come as Sri Lanka races to secure funding from creditors including India, China and the International Monetary Fund. On Monday, Sri Lanka’s blue-chip index sank 12.6%, exceeding the 10% drop that resulted in an all-day suspension as investors fretted over the economic crisis.