Indus Valley Times

Sri Lanka , Aoril 2 : Sri Lanka’s President Gotabaya Rajapaksa declared a state of emergency in the island nation on Saturday, a day after angry protesters demonstrated near his home demanding his resignation over the current economic crisis in the country.

A nationwide protest has been called for tomorrow as the country finds itself unable to pay for imports, leading to shortages of various goods including fuel. Sri Lanka’s economic woes are blamed on successive governments not diversifying exports and relying on traditional cash sources like tea, garments and tourism, and on a culture of consuming imported goods.

Indian traders have started loading 40,000 tonnes of rice for prompt shipment to Sri Lanka in the first major food aid since Colombo secured a credit line from New Delhi, two officials told Reuters on Saturday.

The Indian Ocean island nation of 22 million people is struggling to pay for essential imports after a 70% drop in foreign exchange reserves in two years led to a currency devaluation and efforts to seek help from global lenders. The shipment of the staple comes before a key festival in Sri Lanka.

Fuel is in short supply, food prices are rocketing and protests have broken out as Sri Lanka’s government prepares for talks with the International Monetary Fund amid concerns over the country’s ability to pay back foreign debt.

India, the world’s biggest rice exporter, last month agreed to provide the $1 billion credit line to help ease crippling shortages of essential items, including fuel, food and medicine. The rice shipments could help Colombo bring down rice prices, which have doubled in a year, adding fuel to the unrest.

The Sri Lankan government has termed the violent demonstration near President Gotabaya Rajapaksa’s residence over the current economic crises as “an act of terrorism” and blamed “extremist elements” linked to opposition parties for the incident.

A violent protest erupted outside the residence of Rajapaksa on Thursday as hundreds of demonstrators gathered there and demanded his resignation for what they called his failure in addressing the worst economic crisis in the island nation.

Several people were injured and vehicles were set on fire as the agitation turned violent. Police fired tear gas and water cannons at the protesters after they pulled down a steel barricade placed near the president’s residence. Following the incident, several people were arrested and a curfew briefly imposed in most parts of Colombo city.

A foreign exchange crunch in Sri Lanka has led to a shortage of essential goods such as fuel. cooking gas, and power cuts that last up to 13 hours a day.

Tourism minister Prasanna Ranatunga blamed “extremist elements” linked to opposition parties Samagi Jana Balawegaya (SJB) and Janatha Vimukthi Peramuna (JVP) responsible for the violence. Health minister Keheliya Rambukwella said the president’s life was in danger as the demonstration had taken place due to intelligence failure.

-The India Today