Turmoil in Sri Lanka continues, as the deadline for President Gotabaya Rajapaksa to step down approaches, and protesters continue to occupy Sri Lanka’s presidential palace. They have threatened an island-wide strike by Thursday if both leaders have not resigned by that point. Sri Lanka‘s parliament announced it will hold a vote on July 20 to elect a new president.
This is the next chapter in Sri Lanka’s plunge towards political and economic chaos. Sri Lankans have blamed Rajapaksa for the collapse of the tourism-dependent economy which was decimated by COVID. Government finances have been crippled by mounting debt and lavish tax breaks given by the government. Foreign exchange reserves are depleted, leaving Sri Lanka unable to import fuel, forcing rations and long lines; inflation has hit more than 50 percent already.
No comments:
Post a Comment