Sri Lanka economic crisis: PM Mahinda Rajapaksa resigns as pressure mounts up
This comes amid countrywide protests and public calls for him and his brother, President Gotabaya Rajapaksa, to quit as the country's economic situation worsens
Sri Lankan Prime Minister Mahinda Rajapaksa on Monday (May 9th) announced that he'll be stepping down from his post.
This comes amid countrywide protests and public calls for him and his brother, President Gotabaya Rajapaksa, to quit as the country's economic situation worsens.
Watch | Sri Lanka Political Crisis: Final announcement on PM Mahinda Rajapaksa's resignation today
As per a Reuters report citing unnamed sources, "The prime minister has sent his letter of resignation to the president."
The 76-year-old delivered his letter of resignation to his younger brother, President Gotabaya Rajapaksa, paving the way for a "new unity government," according to spokesperson Rohan Weliwita.
Months of blackouts, as well as acute food, fuel, and medical shortages, have wreaked havoc on the South Asian island, which is going through its worst economic downturn since 1948.
The country has been facing this economic crisis since 2019, but the coronavirus pandemic exasperated the hardship manyfold. It is mainly attributed to economic mismanagement by its incumbent government.
In April, the country declared default on its $51 billion foreign debt.
Over the past week, there have been reports that owing to the widespread protests in the country, PM Mahinda has been asked to step down by his brother, President.
However, the Prime Minister continued to deny the reports, insisting that no such request had been made and refused to resign.
Now, according to reports, the Prime Minister has decided to resign from his position after multiple meetings among the ruling Sri Lanka Podujana Peramuna party (SLPP) and its member parties.
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(With inputs from agencies)