September 24, 2022
sri lanka crisis

Sri Lanka’s president says a deal with the International Monetary Fund to help the bankrupt country out of its economic sri lanka crisis has been delayed until September because of unrest in recent weeks.

FILE- In Colombo, Sri Lanka, Thursday, May 26, 2022, women wait near an empty fuel station hoping to buy kerosene, Sri Lankan President Ranil Wickremesinghe said on Saturday, July 30, that the International Monetary Fund A deal with the fund to lift the bankrupt country out of its economic crisis has been delayed until September by unrest in recent weeks. (AP Photo/Aranga Jayawardana, File) The Associated Press

 

By Krishna Francis Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Saturday. That a deal with the International Monetary Fund to help the bankrupt country recover from its economic crisis has been delayed. Until September because of unrest in recent weeks. has gone

President Ranil Wickremesinghe, in his first speech after being elected to parliament on July 20. Said that although he had intended to reach an agreement as prime minister in early August. It had now been delayed by a month.

Wickramasinghe was elected to complete the five-year term of his predecessor. Gotabaya Rajapakse, who fled Singapore after protesters angry over economic hardship stormed. His official residence and occupied several key government buildings. were

Wickramsinghe said that since these events, talks with the IMF about the rescue package have not progressed.

Sri Lanka announced in April that it was suspending its foreign debt service due to a severe shortage of foreign exchange. The island nation has an external debt of $51 billion, of which $28 billion must be repaid by 2027.

The currency crisis led to shortages of many key imports such as fuel, medicine and cooking gas.

Wickremesinghe on Friday wrote to 225 lawmakers in Parliament asking them to join a multi-party government to tackle the crisis. He repeated the call on Saturday, saying that blaming former leaders will not solve the problem, but everyone must come together to prevent the country from falling further.

Wickremesinghe, a six-time prime minister and veteran politician. Is unpopular because he has the support of most lawmakers backed by the powerful Rajapaksa dynasty. Which has ruled Sri Lanka for more than two decades. Many accuse Wickremesinghe of protecting Rajapaksa, who is widely blamed for the corruption and mismanagement that led to the sri lanka crisis.

Wickremesinghe has authorized the army to dismantle the protest camps near the President’s office for more than 100 days. Several people including protest leaders have been arrested in the crackdown.

Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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