The resignations mark a major victory for the protesters, but the future of the country’s 22 million people is uncertain as they struggle to buy basic goods, fuel and medicine. Here is the latest. Over the weekend, tens of thousands of protesters gathered outside the President’s office and residence before breaking through security cordons. Dramatic images shared on social media show them singing protest songs and shouting slogans calling for Rajapaksa to step down. Other photos showed groups of protesters setting up barbecue pits to grill and cook food. But the most dramatic video showed protesters swimming in the President’s private pool. The Sri Lankan Armed Forces took Rajapaksa to a navy ship minutes before protesters stormed his residence, a senior military source told CNN on Sunday. The president came down from his bedroom on the top floor of the palace and exited the compound moments before the protesters broke the first barrier of the compound, the source added. The warship is currently at sea near Colombo in Sri Lankan territorial waters, they said. Later on Saturday, protesters targeted Wickremesinghe’s home, setting fire to his private residence in Fifth Lane, an affluent neighborhood of the capital. Live video seen by CNN showed the building engulfed in flames as crowds gathered at the scene and cheered. The leaders were not at their residences when the buildings were breached and were moved to safe locations before the attacks, according to security officials. At least 55 people were injured in the protests, according to local doctors on Saturday, who said the number included a lawmaker from eastern Sri Lanka and three people with gunshot wounds. Videos released on social media suggested soldiers fired on protesters outside the President’s residence, but the military denied opening fire. Protests have been escalating in Sri Lanka since March, when public anger erupted in the streets over rising food costs, fuel shortages and power cuts as the country struggled to repay debt.
What’s wrong with the government?
Rajapaksa will formally step down on July 13, officials said, following an emergency meeting called by Parliament Speaker Mahinda Yapa Ambewardena. Wickremesinghe tweeted that he was stepping down “to ensure the continuation of government, including the safety of all citizens”, but did not give a date. Four other ministers also resigned over the weekend — the latest in an exodus of senior officials. On 3 April, the entire cabinet of the Sri Lankan government was effectively dissolved due to mass resignations of top ministers. Some 26 ministers resigned that weekend, including the governor of the central bank as well as the president’s nephew, who criticized an apparent blackout on social media as something he would “never condone”. Analysts and observers now say parliament speaker Abeywardena will likely take over the country’s interim administration until the next president is elected by lawmakers to replace Rajapaksa and complete the rest of his term, which ends in 2024. The new president will be elected on July 20 after parliament resumes on July 16, Abeywardena said in a statement on Monday. Nominations for the top job will be presented to parliament from July 19, followed by a vote to elect a new president a day later, according to Abeywardena. The timetable was agreed during a meeting between Sri Lankan party leaders in Colombo on Monday to ensure a new all-party unity government is formed as soon as possible, according to the country’s constitution. Following the weekend protests, the IMF said it was closely monitoring developments in the country. “We hope to resolve the current situation that will allow for the resumption of our dialogue on an IMF-backed program, while we plan to continue technical discussions with our counterparts at the Ministry of Finance and the Central Bank of Sri Lanka,” the heads said of the IMF mission. Peter Breuer and Masahiro Nozaki in a joint statement on Sunday.
How is life now in Sri Lanka?
The country has suffered its worst economic crisis in seven decades after its foreign exchange reserves fell to record lows, with dollars running out to pay for essential imports including food, medicine and fuel. For Sri Lankans, the crisis has turned their daily lives into an endless cycle of waiting in queues for basic goods, many of which are rationed. Despite previous government efforts to ease the crisis, such as the introduction of a four-day work week, Wickremesinghe declared the country “bankrupt” last Tuesday. In several major cities, including the capital, Colombo, desperate residents continue to queue for food and medicine, with reports of civilians clashing with police and the military as they wait in line. In early July, Energy Minister Kanchana Wijesekera said the country had less than a day’s supply of fuel. Train frequency has been reduced, forcing commuters to squeeze into compartments and even sit precariously on them as they commute to work. Patients cannot travel to hospitals due to fuel shortages and food prices are skyrocketing. Rice, a staple in the South Asian country, has disappeared from the shelves of many shops and supermarkets. Public frustration and anger erupted on March 31, when protesters threw bricks and lit fires outside the President’s private residence. Police used tear gas and water cannons to break up the protests and then imposed a 36-hour curfew. President Rajapaksa declared a state of emergency across the country on April 1, giving authorities powers to detain people without a warrant and blocked social media platforms. However, protests continued the next day in defiance of the curfew, with police arresting hundreds of protesters. Now the protesters have forced both the President and Prime Minister of the country to resign.
What is the background of these protests?
The crisis has been years in the making, experts said, pointing to a series of government decisions compounding external shocks. Over the past decade, the Sri Lankan government has borrowed huge sums of money from foreign lenders to finance public services, said Murtaza Jafferjee, president of the Colombo-based think tank Advocata Institute. This borrowing spree has coincided with a series of hammer blows to Sri Lanka’s economy, from natural disasters — such as heavy monsoons — to man-made disasters, including a government ban on chemical fertilizers that decimated farmers’ crops. Facing a huge deficit, Rajapaksa cut taxes in a doomed attempt to stimulate the economy. But the move failed, instead hitting government revenue. This prompted rating agencies to downgrade Sri Lanka to near-default levels, meaning the country lost access to overseas markets. Sri Lanka then had to fall back on its foreign exchange reserves to repay the public debt, shrinking its reserves. This affected imports of fuel and other essential items, which sent prices skyrocketing. On top of all that, the government in March floated the Sri Lankan rupee — meaning its price was determined by the supply and demand of foreign exchange markets. However, the rupee’s fall against the US dollar has made things worse for ordinary Sri Lankans.
