Sri Lanka in crisis: Some relief for protesters after the resignation, now waiting for the new president

After months of seething resentment over the nation’s economic collapse and expulsion of Gotabaya Rajapaksa after thousands of protesters stormed Rajapaksa’s and other officials’ residences. Although, most of the protesters who had been celebrating the resignation have left the buildings. The police are currently monitoring the facilities that were ransacked. A week later, the constitutional procedure to choose new leaders is being taken care of by the former prime minister and current acting president Ranil Wickremesinghe. However, political observers claim that the removal of the Rajapaksas, who oversaw the finance ministry and is responsible for the nation’s financial and economic collapse, is far from appeasing the people, Reuters reported.

On Friday (July 15), Wickremesinghe who protesters wanted to be removed, was chosen as the ruling party’s presidential candidate. His selection led to further unrest on whether he should be elected or not. Another candidate for the presidency is Sajith Premadasa and Dullas Alahapperuma, a senior member of the ruling party.

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However, while the emerald island nation’s foreign exchange reserves have almost completely vanished and the inflation topped 54.6 per cent last month, days-long petrol lines. The South Asian Island first received its three fuel cargoes on July 16, and the next consignment of diesel was likewise anticipated on Saturday, and more gasoline was anticipated for July 19.

The country’s central bank governor in conversation with The Wall Street Journal that the president will take office in a crisis-ridden nation that is likely to experience an economic contradiction of more than 6 per cent this year as the unrest will affect the negotiations over the financial assistance with the IMF.

The country will have its presidential election on July 20.

(With inputs from agencies)