Sri Lanka Economic Crisis: The Prime Minister of Sri Lanka Mahinda Rajapaksa resigned on May 9, 2022, from his position amid the ongoing economic crisis in the country.
Key Details:
- The resignation was accepted, according to a gazette notification, and consequently, the Cabinet stands dissolved as per the Sri Lankan Constitution.
- 76-year-old Rajapaksa sent his resignation to President Gotabaya Rajapaksa after violent scenes were witnessed in Colombo.
- Rajapaksa's resignation from the post has come days after President Gotbaya Rajapaksa in a special meeting requested the PM to step down as a solution to the ongoing political and economic crisis in Sri Lanka.
- With the resignation of the Sri Lankan PM, the Health Minister of Sri Lanka Prof Channa Jayasumana also handed over his letter of resignation to the President of the country.
- Now, the Sri Lankan President Gotbaya Rajapaksa is expected to invite all the political parties in the Parliament to form an all-party cabinet.
Sri Lanka Economic Crisis:
- Sri Lanka is currently experiencing unparalleled economic turbulence since gaining independence from the United Kingdom in 1948.
- Sri Lanka has been thrown into weeks of economic crisis as a result of a currency shortage, which has resulted in a dearth of vital goods such as food, fuel, and medications.
About Sri Lanka:
- Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia.
- It is located in the Indian Ocean to the southwest of the Bay of Bengal and to the southeast of the Arabian Sea.
- The capitals of Srilanka are Colombo and Sri Jayawardenepura Kotte.
- Sri Jayawardenepura Kotte is the legislative capital while Colombo is the largest city and center of commerce.
- The currency used here is Sri Lankan rupee.