The President of Sri Lanka resigns after massive protests over the economic crisis.
On Wednesday, Sri Lankan President Gotabaya Rajapaksa is set to resign, marking the dramatic end of the influential clan’s two-decade grip on Sri Lankan politics. Prime Minister Ranil Wickremesinghe also resigned, paving the way for the formation of an all-party temporary administration. Politicians from the opposition claim they have the legislative majority to create an interim administration. At least fifty individuals, including police officers, were hurt during the protests. Demonstrators were angered over the nation’s most significant economic crisis in seventy years.
Images and videos of protesters swimming at the president’s mansion from the colonial period went popular on social media. Sri Lanka’s economic crisis started earlier this year when the country’s government delayed the repayment of international debts owing to a foreign currency shortage. The government is negotiating a bailout with the International Monetary Fund (IMF) and depending on assistance from India and other countries. Due to the political instability, many feel the much-anticipated IMF bailout might be postponed. Aruna Kulatunga, a political expert, asserts that reconstructing and stabilizing Sri Lanka is a “dangerous” endeavor.