You are here: Home » International » News » Others
Business Standard

Sri Lankan PM Rajapaksa likely to resign as economic crisis worsens

The Sri Lankan Cabinet had been informed that owing to the failure of the Prime Minister to cope with the country's ongoing economic crisis, Mahinda Rajapaksa has sought to resign from his position

Topics
sri lanka | Economic Crisis

ANI 

Mahinda Rajapaksa. Photo: Bloomberg
Mahinda Rajapaksa. Photo: Bloomberg

Sri Lankan Prime Minister is learnt to have responded positively to President Gotabaya Rajapaksa's request to him to quit in the face of the deepening along with the imposition of the state of emergency in the island nation.

As per reports, at a special cabinet meeting at the Presiden's House, headed by Gotabaya Rajapaksa, agreed to resign from his post as Prime Minister of Sri Lanka, reported the Colombo Page.

The Sri Lankan Cabinet had been informed that owing to the failure of the Prime Minister to cope with the country's ongoing economic crisis, has sought to resign from his position. His resignation will also mark the dissolution of the Cabinet as well. Further, Mahinda Rajapaksa had stated that if the only solution to the persistent in is his resignation, he is willing to do so.

Meanwhile, Sri Lankan President Gotabaya Rajapaksa had accepted that amidst strong protests by the people it has become a serious problem to manage the economic and political crisis in the country, reported the Colombo Page. He added that the crisis had resulted in an absence of tourists in the country. Moreover, the closure of factories had also piled up the burden on the already prevalent economic woes.

Further, political sources reveal that Sri Lankan Cabinet ministers, Prasanna Ranatunga, Nalaka Godahewa, and Ramesh Pathirana, have all agreed to Mahinda Rajapaksa's decision of resigning as the Prime Minister of the country. However, in contradiction with the Cabinet ministers, Minister Wimalaweera Dissanayake had stated that Mahinda's resignation will prove futile in dealing with the country's crisis.

In addition, political sources also show that Prime Minister Mahinda Rajapaksa is due to announce his resignation from his post in a special statement on Monday, followed by a cabinet reshuffle in the next week, reported the Colombo Page.

Meanwhile, is struggling with acute food and electricity shortages, forcing the country to seek help from its neighbours. The recession is attributed to foreign exchange shortages caused by a clampdown on tourism during the COVID-19 pandemic. The country is unable to buy sufficient fuel and gas, while the people are being deprived of basic amenities as well.

The economic situation has led to huge protests with demands for the resignation of Prime Minister Mahinda Rajapaksa and President Gotabaya Rajapaksa.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


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. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

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. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, May 07 2022. 14:19 IST
RECOMMENDED FOR YOU
.