Sri Lanka's former president Gotabaya Rajapaksa who was ousted from power following months of protest has reportedly left for the United States with family, according to a report. This is Rajapaksa's first foreign trip since returning to Sri Lanka more than 3 months ago. Watch to know more.

Sri Lanka's ousted ex-president Rajapaksa, family leaves for U.S.: Reports

An amendment has been passed that aims to strengthen anti-corruption safeguards until help find the way out of Sri Lanka's financial crisis. The country has been reeling with political and economical turmoil. Sri Lankans accused the former President Rajapaksa for the crisis.

Sri Lanka parliament passes amendment; Opposition parties slam it

Sri Lanka's former Prime Minister Mahinda Rajapaksa addressed a public gathering first time since the month of May. While addressing the public meeting, he initially got confused to who is the President of the country? Watch the video to know, what happened after.

Sri Lanka's ex-PM Mahinda Rajapaksa addresses public gathering, confuses President's name

Referring to the threats made by the protesters, Sri Lankan President Ranil Wickremesinghe stated on Sunday that there is no point in demanding him to ‘go home.’ The leader said, "I am appealing to you not to do that as I have no home to go to." He further said that there was no use in demanding a man to go home if he had no place to live, adding that the protesters could demand him to return after his house had been repaired. Speaking in Kandy, Wickremesinghe claimed that some people had threatened to hold a protest calling for him to return, ANI reported.

According to the Colombo Gazette, the president demanded that the demonstrators either rebuild the nation or his home. As per,&nbsp;Ranil, the protests slowed down a potential agreement with the IMF that had been moving forward after he took office as Prime Minister.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/can-chinese-ship-snoop-on-india-from-sri-lanka-port-india-raises-concerns-502609">Can Chinese ship snoop on India from Sri Lanka port? India raises concerns</a>

Ranil urged all the political parties to join hands in order to find a long-term solution to the country’s economic crisis. He continued that it’s pointless to blame former president Gotabaya Rajapaksa for the economic problem.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/millions-found-inside-gotabaya-rajapaksas-house-produced-before-court-502283">Millions found inside Gotabaya Rajapaksa’s house produced before court</a>

Notably, on July 9, enraged by the extraordinary economic crisis in the country, protesters broke into the private mansion of the then-prime minister, Ranil Wickremesinghe, and set it on fire. They barged into the property just a few hours earlier, demanding the resignation of the then-president, Gotabaya Rajapaksa, and tore down police-erected security barriers, jumped into the pool, and ransacked his kitchen and house.

The country has been dealing with its worst economic crisis since its independence in 1948.

(With inputs from agencies)

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Referring to the threats made by the protesters, Sri Lankan President Ranil Wickremesinghe stated on Sunday that there is no point in demanding him to ‘go home.’ The leader said, "I am appealing to you not to do that as I have no home to go to.

Referring to the threats made by the protesters, Sri Lankan President Ranil Wickremesinghe stated on Sunday that there is no point in demanding him to ‘go home.’ The leader said, "I am appealing to you not to do that as I have no home to go to." He further said that there was no use in demanding a man to go home if he had no place to live, adding that the protesters could demand him to return after his house had been repaired. Speaking in Kandy, Wickremesinghe claimed that some people had threatened to hold a protest calling for him to return, ANI reported. According to the Colombo Gazette, the president demanded that the demonstrators either rebuild the nation or his home. As per, Ranil, the protests slowed down a potential agreement with the IMF that had been moving forward after he took office as Prime Minister. Also read | Can Chinese ship snoop on India from Sri Lanka port? India raises concerns Ranil urged all the political parties to join hands in order to find a long-term solution to the country’s economic crisis. He continued that it’s pointless to blame former president Gotabaya Rajapaksa for the economic problem. Also read | Millions found inside Gotabaya Rajapaksa’s house produced before court Notably, on July 9, enraged by the extraordinary economic crisis in the country, protesters broke into the private mansion of the then-prime minister, Ranil Wickremesinghe, and set it on fire. They barged into the property just a few hours earlier, demanding the resignation of the then-president, Gotabaya Rajapaksa, and tore down police-erected security barriers, jumped into the pool, and ransacked his kitchen and house. The country has been dealing with its worst economic crisis since its independence in 1948. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘No home to go’: Sri Lankan President Ranil Wickremesinghe responds to protesters' threat

Anti-government protesters have returned to the streets of Sri Lanka after parliament elected Ranil Wickremesinghe as the country’s new president in a secret ballot on Wednesday. The protesters are demanding the resignation of Wickremesinghe.

Sri Lankan protesters to continue demanding resignation of President Ranil Wickremesinghe

Ranil Wickremesinghe took oath as Sri Lanka President on Thursday after winning the presidential poll on Wednesday. He is the ninth President of the island nation.

Ranil Wickremesinghe takes oath as Sri Lanka's 9th President

The island nation has finally got a new President. Ranil Wickremesinghe has been elected as the 8th executive President of Sri Lanka with 134 votes. The newly elected President says that Sri Lanka is going through a tough situation and we have new challenges ahead.

'Big challenges ahead' says newly elected Sri Lankan Prez Ranil Wickremesinghe

Sri Lanka lawmakers elect six-time former Prime Minister Ranil Wickremesinghe as the new president, this decision is more likely to reignite protests in the island nation.

Sri Lanka: Ranil Wickremesinghe elected as 8th President with 134 votes

Ranil Wickremesinghe has been elected as Sri Lanka's new president. Molly Gambhir tells you what comes next as the seasoned Ranil Wickremesinghe inherits the complicated, corrupt and often violent political system.

WION Fineprint | Six-time PM Wickremesinghe wins Sri Lankan presidency

Acting President Ranil Wickremesinghe was on Wednesday elected as Sri Lanka’s new President by Parliament. The new President will have a mandate to serve out the rest of Rajapaksa’s term, which ends in November 2024.

Ranil Wickremesinghe elected as Sri Lanka's new President

Sri Lankan Prime Minister Ranil Wickremesinghe won the presidential elections conducted by the Parliament on Thursday after Gotabaya Rajapaksa fled abroad amidst intense agitation over the economic crisis.

He will serve the remaining tenure of Gotabaya Rajapaksa till November 2024.

Wickremesinghe received the highest 134 votes and was declared the 8th executive president of Sri Lanka. His rivals Dullas Alahaperuma and Anurakumara Dossanayake got 82 and 3 votes, respectively.

A total of 223 votes were registered in the parliament, two abstained, whereas four were declared invalid. The votes were held through a secret ballot.

&nbsp;"Our divisions are now over," the 73-year-old said in an acceptance speech to parliament after legislators elected him head of state.

He said he hoped to be sworn in later Wednesday at a simple ceremony within the tightly guarded parliament building.

At the start of the session, Secretary-General of Parliament Dhammika Dasanayake instructed lawmakers on the voting process and warned them that taking photos of their ballot or publicising their vote would be a breach of the constitution.

Meanwhile, protesters gathered outside the Presidential Secretariat after Ranil Wickremesinghe was elected as the Sri Lankan President.

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Protesters gather outside the Presidential Secretariat after Ranil Wickremesinghe was elected as <a href="https://twitter.com/hashtag/SriLanka?src=hash&amp;ref_src=twsrc%5Etfw">#SriLanka</a> President <a href="https://t.co/3vI5v8MA28">pic.twitter.com/3vI5v8MA28</a>
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Wickramasinghe, who is despised by the protesters, has vowed to crack down hard if protesters take to the streets.&nbsp;As the interim&nbsp;president, Wickremesinghe imposed a state of emergency giving police and security forces unbridled powers&nbsp;and ordered troops last week to evict protesters from state buildings they had occupied.

Ahead of the polls,&nbsp;Opposition MP Dharmalingam Sithadthan said that the Parliament legislators were impressed by Wickremesinghe's hardline stance against the agitators who had been attacking MPs. He described&nbsp;him as the "law-and-order candidate".

The presidential elections saw a three-way fight between acting President Ranil Wickremesinghe, former journalist Dallas Alahapperuma, and Anura Kumara Dissanayaka, from the leftist Janatha Vimukti Peramuna party.

This is for the first time that the parliament was holding elections for electing a new president.

Presidential elections in 1982, 1988, 1994, 1999, 2005, 2010, 2015 and 2019 were held by popular vote.

The only previous occasion when the presidency became vacant mid-term was in 1993 when president Ranasinghe Premadasa was assassinated. DB Wijetunga was unanimously endorsed by Parliament to run the balance of Premadasa's term.

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Sri Lankan Prime Minister Ranil Wickremesinghe won the presidential elections conducted by the Parliament on Thursday after Gotabaya Rajapaksa fled abroad amidst intense agitation over the economic crisis.

Sri Lankan Prime Minister Ranil Wickremesinghe won the presidential elections conducted by the Parliament on Thursday after Gotabaya Rajapaksa fled abroad amidst intense agitation over the economic crisis. He will serve the remaining tenure of Gotabaya Rajapaksa till November 2024. Wickremesinghe received the highest 134 votes and was declared the 8th executive president of Sri Lanka. His rivals Dullas Alahaperuma and Anurakumara Dossanayake got 82 and 3 votes, respectively. A total of 223 votes were registered in the parliament, two abstained, whereas four were declared invalid. The votes were held through a secret ballot. "Our divisions are now over," the 73-year-old said in an acceptance speech to parliament after legislators elected him head of state. He said he hoped to be sworn in later Wednesday at a simple ceremony within the tightly guarded parliament building. At the start of the session, Secretary-General of Parliament Dhammika Dasanayake instructed lawmakers on the voting process and warned them that taking photos of their ballot or publicising their vote would be a breach of the constitution. Meanwhile, protesters gathered outside the Presidential Secretariat after Ranil Wickremesinghe was elected as the Sri Lankan President. Protesters gather outside the Presidential Secretariat after Ranil Wickremesinghe was elected as #SriLanka President pic.twitter.com/3vI5v8MA28 — WION (@WIONews) July 20, 2022 × Wickramasinghe, who is despised by the protesters, has vowed to crack down hard if protesters take to the streets. As the interim president, Wickremesinghe imposed a state of emergency giving police and security forces unbridled powers and ordered troops last week to evict protesters from state buildings they had occupied. Ahead of the polls, Opposition MP Dharmalingam Sithadthan said that the Parliament legislators were impressed by Wickremesinghe's hardline stance against the agitators who had been attacking MPs. He described him as the "law-and-order candidate". The presidential elections saw a three-way fight between acting President Ranil Wickremesinghe, former journalist Dallas Alahapperuma, and Anura Kumara Dissanayaka, from the leftist Janatha Vimukti Peramuna party. This is for the first time that the parliament was holding elections for electing a new president. Presidential elections in 1982, 1988, 1994, 1999, 2005, 2010, 2015 and 2019 were held by popular vote. The only previous occasion when the presidency became vacant mid-term was in 1993 when president Ranasinghe Premadasa was assassinated. DB Wijetunga was unanimously endorsed by Parliament to run the balance of Premadasa's term. WATCH WION LIVE HERE

Ranil Wickremesinghe declared Sri Lanka’s new president  

Sri Lankan parliament was convened on Saturday where the resignation of former president Gotabaya Rajapaksa was read. In the letter, he defended himself and listed the reasons why the island country plunged into one of its worst economic crises.

&nbsp;“I served my motherland to the best of my ability, and I will continue to do so in the future,” he said in his letter, which was read aloud by Dhammika Dasanayake, Secretary-General of Parliament.

The 73-year-old Sri Lankan leader said that the COVID-19 pandemic and resultant lockdown choked Sri Lanka’s economy, according to PTI news agency.

He said that he tried to take the appropriate steps to salvage the country by forming an all-party government to counter the economic meltdown.

“I took action to protect people from the pandemic despite being constrained by the already poor economic environment that prevailed at the time,” he said.

“During 2020 and 2021 I was compelled to order lockdowns and the foreign exchange situation deteriorated. In my view, I took the best course of action by suggesting an all-party or a national government to tackle the situation,” Rajapaksa said.

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Secretary-General of Parliament reads the letter of resignation by <a href="https://twitter.com/GotabayaR?ref_src=twsrc%5Etfw">@GotabayaR</a> <a href="https://twitter.com/hashtag/SriLanka?src=hash&amp;ref_src=twsrc%5Etfw">#SriLanka</a> <a href="https://twitter.com/hashtag/lka?src=hash&amp;ref_src=twsrc%5Etfw">#lka</a> <a href="https://t.co/OIPJyqbEez">pic.twitter.com/OIPJyqbEez</a>
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“I decided to resign as you indicated to me on July 9 the wish of the party leaders,” he said in the letter.

“I resign with effect from July 14,” the letter read.

Meanwhile, former Sri Lankan prime minister Mahinda Rajapaksa and his brother former Finance Minister Basil Rajapaksa have been barred by the Supreme Court to leave the country without permission until July 28, anti-corruption group Transparency International Sri Lanka said.

The top court’s decision follows days after their brother and former president Gotabya Rajapaksa fled the country as the protests intensified seeking his resignation.

The anti-corruption group in a tweet further said that three other former officials, including two former central bank governors, also cannot travel outside the country without the court's permission till July 28, the group said in a tweet.

(With inputs from agencies)

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Sri Lankan parliament was convened on Saturday where the resignation of former president Gotabaya Rajapaksa was read. In the letter, he defended himself and listed the reasons why the island country plunged into one of its worst economic crises.

Sri Lankan parliament was convened on Saturday where the resignation of former president Gotabaya Rajapaksa was read. In the letter, he defended himself and listed the reasons why the island country plunged into one of its worst economic crises. “I served my motherland to the best of my ability, and I will continue to do so in the future,” he said in his letter, which was read aloud by Dhammika Dasanayake, Secretary-General of Parliament. The 73-year-old Sri Lankan leader said that the COVID-19 pandemic and resultant lockdown choked Sri Lanka’s economy, according to PTI news agency. He said that he tried to take the appropriate steps to salvage the country by forming an all-party government to counter the economic meltdown. “I took action to protect people from the pandemic despite being constrained by the already poor economic environment that prevailed at the time,” he said. “During 2020 and 2021 I was compelled to order lockdowns and the foreign exchange situation deteriorated. In my view, I took the best course of action by suggesting an all-party or a national government to tackle the situation,” Rajapaksa said. Secretary-General of Parliament reads the letter of resignation by @GotabayaR #SriLanka #lka pic.twitter.com/OIPJyqbEez — Kalani Kumarasinghe (@KalaniWrites) July 16, 2022 × “I decided to resign as you indicated to me on July 9 the wish of the party leaders,” he said in the letter. “I resign with effect from July 14,” the letter read. Meanwhile, former Sri Lankan prime minister Mahinda Rajapaksa and his brother former Finance Minister Basil Rajapaksa have been barred by the Supreme Court to leave the country without permission until July 28, anti-corruption group Transparency International Sri Lanka said. The top court’s decision follows days after their brother and former president Gotabya Rajapaksa fled the country as the protests intensified seeking his resignation. The anti-corruption group in a tweet further said that three other former officials, including two former central bank governors, also cannot travel outside the country without the court's permission till July 28, the group said in a tweet. (With inputs from agencies) WATCH WION LIVE HERE

Former Sri Lankan President Gotabaya Rajapaksa defends himself

After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13. In a statement sent to the media on Saturday, July 9, Abeywardena asked the public to be calm in a statement and gave state officials advice on how to ensure that daily life runs smoothly.

The Speaker said that he had notified Rajapaksa of the party leaders' earlier-in-the-evening resolve to remove the president and prime minister, Ranil Wickremesinghe, from office. In order to facilitate a smooth transition, the president indicated his agreement with the choice and announced he would step down on Wednesday.

Speaker Abeywardena urged restraint while pointing out that Prime Minister Wickremesinghe's private mansion in Colombo had been set on fire by a group of people.

Abeywardena pleaded with everyone to stop engaging in these behaviours and go back to their homes.

Watch | Public anger over economic crisis: Sri Lankan PM's private house set on fire

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<a href="https://www.wionews.com/south-asia/video-protesters-attack-sri-lanka-prime-ministers-house-set-it-on-fire-police-495947">Video: Protesters attack Sri Lanka prime minister's house, set it on fire — Police</a>

Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis. 
 
<a href="https://www.wionews.com/south-asia/sri-lanka-economic-crisis-pm-ranil-wickremesinghe-says-he-is-willing-to-resign-495892">Also read | Sri Lanka economic crisis: PM Ranil Wickremesinghe says he is willing to resign</a>

When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down.

<a href="https://www.wionews.com/south-asia/sri-lanka-president-gotabaya-rajapaksa-to-resign-on-july-13-speaker-495972">Also read | Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace</a>

“Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said.

His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis.

(With inputs from agencies)

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After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13.

After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13. In a statement sent to the media on Saturday, July 9, Abeywardena asked the public to be calm in a statement and gave state officials advice on how to ensure that daily life runs smoothly. The Speaker said that he had notified Rajapaksa of the party leaders' earlier-in-the-evening resolve to remove the president and prime minister, Ranil Wickremesinghe, from office. In order to facilitate a smooth transition, the president indicated his agreement with the choice and announced he would step down on Wednesday. Speaker Abeywardena urged restraint while pointing out that Prime Minister Wickremesinghe's private mansion in Colombo had been set on fire by a group of people. Abeywardena pleaded with everyone to stop engaging in these behaviours and go back to their homes. Watch | Public anger over economic crisis: Sri Lankan PM's private house set on fire Video: Protesters attack Sri Lanka prime minister's house, set it on fire — Police Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis. Also read | Sri Lanka economic crisis: PM Ranil Wickremesinghe says he is willing to resign When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down. Also read | Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace “Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said. His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lanka economic crisis: President Gotabaya Rajapaksa to resign on July 13 — Speaker

Sri Lanka President Gotabaya Rajapaksa has been exploring options of buying oil from Russia and he is already in conversation with his Russian counterpart Vladimir Putin, a minister said according to PTI. Sri Lanka is currently experiencing a massive fuel shortage and a deal with Russia will be a huge boost for the island nation which is facing its worst economic crisis since gaining independence in 1948. Rajapaksa will be travelling to United Arab Emirates in the near future in order to discuss fuel imports and a possible understanding with Russia can be good news amidst the ongoing crisis.

Also read |&nbsp;<a href="https://www.wionews.com/world/salah-abdeslam-sentenced-to-life-in-prison-without-parole-for-role-in-2015-paris-attacks-493107">Paris attacker Salah Abdeslam sentenced to life in prison without parole</a>

“President Gotabaya has called the Russian President to import fuel from Russia. He also plans to go on a tour to UAE to discuss with their leaders to import fuel,” Minister of state for power and energy Mahindananda Aluthgamage was quoted by the Sri Lankan news portal Economy Next.

Earlier in the week, Rajapaksa met Russian Ambassador to Sri Lanka Yuri Materiy to discuss the food and fuel shortage that has brought the country to a near standstill in the last few weeks.

Also read |&nbsp;<a href="https://www.wionews.com/world/syria-first-country-other-than-russia-to-recognise-ukraine-separatist-republics-of-donetsk-and-lugansk-493080">Syria recognises Ukraine separatist republics of Donetsk and Lugansk</a>

“Had a productive meeting with the Russian Ambassador Yuri Materiy yesterday. Maintaining robust bilateral relations between our two countries, whilst focusing on developing trading opportunities was discussed extensively at this meeting,” Rajapaksa tweeted on Tuesday.

The Sri Lankan government stopped all fuel sales in the country till July 10 and also extended the shutdown as the country fights their worst economic crisis. The schools are shut in the country while both public and private sector offices were instructed to operate with minimum staff.

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(With inputs from agencies)

Sri Lanka President Gotabaya Rajapaksa has been exploring options of buying oil from Russia and he is already in conversation with his Russian counterpart Vladimir Putin, a minister said according to PTI.

Sri Lanka President Gotabaya Rajapaksa has been exploring options of buying oil from Russia and he is already in conversation with his Russian counterpart Vladimir Putin, a minister said according to PTI. Sri Lanka is currently experiencing a massive fuel shortage and a deal with Russia will be a huge boost for the island nation which is facing its worst economic crisis since gaining independence in 1948. Rajapaksa will be travelling to United Arab Emirates in the near future in order to discuss fuel imports and a possible understanding with Russia can be good news amidst the ongoing crisis. Also read | Paris attacker Salah Abdeslam sentenced to life in prison without parole “President Gotabaya has called the Russian President to import fuel from Russia. He also plans to go on a tour to UAE to discuss with their leaders to import fuel,” Minister of state for power and energy Mahindananda Aluthgamage was quoted by the Sri Lankan news portal Economy Next. Earlier in the week, Rajapaksa met Russian Ambassador to Sri Lanka Yuri Materiy to discuss the food and fuel shortage that has brought the country to a near standstill in the last few weeks. Also read | Syria recognises Ukraine separatist republics of Donetsk and Lugansk “Had a productive meeting with the Russian Ambassador Yuri Materiy yesterday. Maintaining robust bilateral relations between our two countries, whilst focusing on developing trading opportunities was discussed extensively at this meeting,” Rajapaksa tweeted on Tuesday. The Sri Lankan government stopped all fuel sales in the country till July 10 and also extended the shutdown as the country fights their worst economic crisis. The schools are shut in the country while both public and private sector offices were instructed to operate with minimum staff. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. (With inputs from agencies)

Sri Lanka President Gotabaya Rajapaksa calls Vladimir Putin, to visit UAE to seek fuel imports

Sri Lankan President Gotabaya Rajapaksa will finish the remaining two years of his term despite months-long street protests calling for his ouster but won’t stand for re-election, he told Bloomberg.

Sri Lanka is suffering its worst economic crisis in decades.

<a href="https://www.wionews.com/world/sri-lanka-denies-detaining-russian-plane-after-moscow-lodges-diplomatic-protest-485097">Also Read |&nbsp;Sri&nbsp;Lanka&nbsp;PM proposes more cabinet accountability amid economic crisis</a>

"I have been given a mandate for five years. I will not contest again," Rajapaksa said on Monday in an interview at his official residence in Colombo.

Anti-government protestors blame Rajapaksa and his family for decisions that led to severe shortages of everything from fuel to medicine, stoking inflation of 40 per cent&nbsp;and forcing a historic debt default.

Watch |&nbsp;World At War: Will Gotabaya Rajapaksa resort to oppression to stay in power?

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Thousands of demonstrators have camped outside the president’s seaside office since mid-March, forcing him to retreat to his barricaded official residence about a Kilometre&nbsp;away.

The economic tailspin spiralled into political turmoil with the resignation of the president’s older brother -- Mahinda Rajapaksa -- as the nation’s prime minister after clashes between government supporters and the protesters turned bloody in May.

<a href="https://www.wionews.com/south-asia/sri-lanka-economic-crisis-mahinda-rajapaksas-residence-set-on-fire-nationwide-curfew-imposed-477738">Also Read |&nbsp;Sri Lanka economic crisis: Mahinda Rajapaksa's residence set on fire, nationwide curfew imposed</a>

Gotabaya Rajapaksa and his new Prime Minister Ranil Wickremesinghe are now seeking about four billion dollars in aid this year from the International Monetary Fund and countries including&nbsp;India&nbsp;and China.

Sri Lanka’s rupee has lost about 82&nbsp;per cent over the past year and the central bank on Monday flagged the possibility of a further correction. The nation’s debt is trading in the deeply-distressed territory.

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Sri Lankan President Gotabaya Rajapaksa will finish the remaining two years of his term despite months-long street protests calling for his ouster but won’t stand for re-election, he told Bloomberg.

Sri Lankan President Gotabaya Rajapaksa will finish the remaining two years of his term despite months-long street protests calling for his ouster but won’t stand for re-election, he told Bloomberg. Sri Lanka is suffering its worst economic crisis in decades. Also Read | Sri Lanka PM proposes more cabinet accountability amid economic crisis "I have been given a mandate for five years. I will not contest again," Rajapaksa said on Monday in an interview at his official residence in Colombo. Anti-government protestors blame Rajapaksa and his family for decisions that led to severe shortages of everything from fuel to medicine, stoking inflation of 40 per cent and forcing a historic debt default. Watch | World At War: Will Gotabaya Rajapaksa resort to oppression to stay in power? Thousands of demonstrators have camped outside the president’s seaside office since mid-March, forcing him to retreat to his barricaded official residence about a Kilometre away. The economic tailspin spiralled into political turmoil with the resignation of the president’s older brother -- Mahinda Rajapaksa -- as the nation’s prime minister after clashes between government supporters and the protesters turned bloody in May. Also Read | Sri Lanka economic crisis: Mahinda Rajapaksa's residence set on fire, nationwide curfew imposed Gotabaya Rajapaksa and his new Prime Minister Ranil Wickremesinghe are now seeking about four billion dollars in aid this year from the International Monetary Fund and countries including India and China. Sri Lanka’s rupee has lost about 82 per cent over the past year and the central bank on Monday flagged the possibility of a further correction. The nation’s debt is trading in the deeply-distressed territory. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lanka's president vows to finish term, but won't run for re-election

Sri Lanka's beleaguered President Gotabaya Rajapaksa on Sunday urged all political parties to set aside their differences and appealed to the protesting citizens to join hands to steer a "pro-people struggle", amidst growing demands for his government's immediate resignation over its failure to tackle the country's worst economic crisis.

His message to the people on International Workers' Day came a day after the powerful Buddhist clergy in the island nation warned that people would be influenced to reject all politicians if Prime Minister Mahinda Rajapaksa, Gotabaya's elder brother, did not resign to make way for an interim government to resolve the political and economic crisis in the country.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/exclusive-hardship-for-sri-lankan-citizens-is-going-to-increase-says-weerakoon-wijewardena-475287">Exclusive | Hardship for Sri Lankan citizens is going to increase, Weerakoon Wijewardena tells WION</a>

"On this #InternationalWorkersDay, I once again invite all political party leaders in #lka to come to a consensus on behalf of the people. It's my sincere wish to call on the people to join hands to steer a pro-people struggle setting aside political differences," Gotabaya tweeted.

Sri Lanka is currently in the throes of unprecedented economic turmoil since its independence from Britain in 1948. The crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices.

On Thursday, nearly 1,000 trade unions staged a one-day nationwide strike, demanding the immediate resignation of the government, including President Gotabaya and Prime Minister Mahinda.

The unions from a number of sectors, including the state service, health, ports, electricity, education and postal joined the strike under the theme 'Bow to the people - government go home', urging the President, the Prime Minister and the government to 'go home'.

In his May Day message, Gotabaya said instead of following up on who is responsible for the current problematic situation, what is needed is to focus on what action can be taken to provide immediate relief to the public, online portal newsfirst, Lk reported.

Watch |&nbsp;Sri Lanka economic crisis: W. A. Wijewardena, Ex-Dy Governor of Central Bank, in an exclusive interview with WION

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Pointing out that in the past three years, the group that faced the most serious challenges in the country are the working class, the president said they are also the ones who were resilient in the face of all these challenges and made great commitments to strengthen the national economy.

"As the day-to-day challenges they face are even more intense today, the government is taking various approaches to liberate the people from this situation and alleviate the oppressive nature of the situation," he said.

Thousands of demonstrators have hit the streets across Sri Lanka since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply.

Gotabaya emphasised that the loss of foreign exchange has created many issues, and managing all these factors is the way to solve the current problems.

"Bearing the responsibility of creating a better future for the people of this country, as the Head of State and on behalf of the people I invited the leaders of all political parties to work together," the Daily Mirror online newspaper quoted the president as saying.

Each second, our goal is to find solutions to existing crises by resorting to methods that can alleviate the suffering of the people, he said.

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&nbsp;

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"On this year's Workers' Day, I once again invite the leaders of all political parties to come to a consensus on behalf of the people to overcome the challenge we face. I respectfully call on the working people to put politics aside and join to steer the struggle in a positive direction with a pro-people revolutionary transformation on behalf of the working people.

"It is with these aspirations that I join with you in celebrating the International Workers' Day that embodies the Workers' Brotherhood, the global labour force," the report quoted the president as saying in his message.

A senior leader from Sri Lanka's Opposition party Samagi Jana Balawegaya (SJB), Lakshman Kiriella, on Saturday said his party will prove their majority in Parliament this week for the no-confidence motion against the government led by the Rajapaksa family.

President Gotabaya has asked the Opposition to show their majority by garnering the support of 113 lawmakers in the 225-member Parliament to form the interim government.

Everyone will be able to see that we command a majority next week and I will not reveal how we are going to do it as of now, the Daily Mirror newspaper had quoted SJB MP and Chief Opposition Whip Kiriella as saying.

Sri Lanka needs at least USD 4 billion to tide over its mounting economic woes, and talks with international institutions such as the World Bank as well as countries like China and Japan for financial assistance have been going on.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-hikes-medicine-prices-amid-financial-crisis-475166">Sri Lanka hikes medicine prices amid financial crisis</a>

Sri Lankan officials were in Washington last week to negotiate with the International Monetary Fund for a bailout.

India has agreed to extend an additional USD 500 million credit line to help Sri Lanka import fuel.

India has already agreed to defer USD 1.5 billion in import payments that Sri Lanka needs to make to the Asian Clearing Union.

Sri Lanka's beleaguered President Gotabaya Rajapaksa on Sunday urged all political parties to set aside their differences and appealed to the protesting citizens to join hands to steer a "pro-people struggle", amidst growing demands for his government's immediate resignation over its failure to tackle the country's worst economic crisis.

Sri Lanka's beleaguered President Gotabaya Rajapaksa on Sunday urged all political parties to set aside their differences and appealed to the protesting citizens to join hands to steer a "pro-people struggle", amidst growing demands for his government's immediate resignation over its failure to tackle the country's worst economic crisis. His message to the people on International Workers' Day came a day after the powerful Buddhist clergy in the island nation warned that people would be influenced to reject all politicians if Prime Minister Mahinda Rajapaksa, Gotabaya's elder brother, did not resign to make way for an interim government to resolve the political and economic crisis in the country. Also read | Exclusive | Hardship for Sri Lankan citizens is going to increase, Weerakoon Wijewardena tells WION "On this #InternationalWorkersDay, I once again invite all political party leaders in #lka to come to a consensus on behalf of the people. It's my sincere wish to call on the people to join hands to steer a pro-people struggle setting aside political differences," Gotabaya tweeted. Sri Lanka is currently in the throes of unprecedented economic turmoil since its independence from Britain in 1948. The crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices. On Thursday, nearly 1,000 trade unions staged a one-day nationwide strike, demanding the immediate resignation of the government, including President Gotabaya and Prime Minister Mahinda. The unions from a number of sectors, including the state service, health, ports, electricity, education and postal joined the strike under the theme 'Bow to the people - government go home', urging the President, the Prime Minister and the government to 'go home'. In his May Day message, Gotabaya said instead of following up on who is responsible for the current problematic situation, what is needed is to focus on what action can be taken to provide immediate relief to the public, online portal newsfirst, Lk reported. Watch | Sri Lanka economic crisis: W. A. Wijewardena, Ex-Dy Governor of Central Bank, in an exclusive interview with WION Pointing out that in the past three years, the group that faced the most serious challenges in the country are the working class, the president said they are also the ones who were resilient in the face of all these challenges and made great commitments to strengthen the national economy. "As the day-to-day challenges they face are even more intense today, the government is taking various approaches to liberate the people from this situation and alleviate the oppressive nature of the situation," he said. Thousands of demonstrators have hit the streets across Sri Lanka since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply. Gotabaya emphasised that the loss of foreign exchange has created many issues, and managing all these factors is the way to solve the current problems. "Bearing the responsibility of creating a better future for the people of this country, as the Head of State and on behalf of the people I invited the leaders of all political parties to work together," the Daily Mirror online newspaper quoted the president as saying. Each second, our goal is to find solutions to existing crises by resorting to methods that can alleviate the suffering of the people, he said. WATCH WION LIVE HERE "On this year's Workers' Day, I once again invite the leaders of all political parties to come to a consensus on behalf of the people to overcome the challenge we face. I respectfully call on the working people to put politics aside and join to steer the struggle in a positive direction with a pro-people revolutionary transformation on behalf of the working people. "It is with these aspirations that I join with you in celebrating the International Workers' Day that embodies the Workers' Brotherhood, the global labour force," the report quoted the president as saying in his message. A senior leader from Sri Lanka's Opposition party Samagi Jana Balawegaya (SJB), Lakshman Kiriella, on Saturday said his party will prove their majority in Parliament this week for the no-confidence motion against the government led by the Rajapaksa family. President Gotabaya has asked the Opposition to show their majority by garnering the support of 113 lawmakers in the 225-member Parliament to form the interim government. Everyone will be able to see that we command a majority next week and I will not reveal how we are going to do it as of now, the Daily Mirror newspaper had quoted SJB MP and Chief Opposition Whip Kiriella as saying. Sri Lanka needs at least USD 4 billion to tide over its mounting economic woes, and talks with international institutions such as the World Bank as well as countries like China and Japan for financial assistance have been going on. Also read | Sri Lanka hikes medicine prices amid financial crisis Sri Lankan officials were in Washington last week to negotiate with the International Monetary Fund for a bailout. India has agreed to extend an additional USD 500 million credit line to help Sri Lanka import fuel. India has already agreed to defer USD 1.5 billion in import payments that Sri Lanka needs to make to the Asian Clearing Union.

Sri Lankan president Rajapaksa urges political parties to set aside differences

In a bid to find a solution to the current economic, political and social crisis in the country, President Gotabaya Rajapaksa will be holding a crucial meeting with 41 MPs who recently quit the ruling dispensation. The meeting between the Sri Lanka Freedom Party (SLFP) and President Rajapaksa is scheduled to be held at 7.00 pm this evening, reported Daily Mirror.

The information of the decisive and crucial meeting was given by the former President and SLFP leader Maithripala Siriserna. Addressing the media at the party office today morning, he said the main objective of the meeting was to coerce President Rajapaksa to form an interim administration under an all-party Cabinet sans Rajapaksas with the least number of portfolios, reported Daily Mirror.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/more-trouble-for-gotabaya-rajapaksa-as-opposition-mulls-no-confidence-motion-against-sl-president-469734">More trouble for Gotabaya Rajapaksa as opposition mulls no-confidence motion against SL president</a>

"Before the interim administration is set up, the 19th Amendment to the Constitution must be re-introduced with added powers to curtail the executive powers of the executive presidency," he added. The entire country is demanding the removal of the Rajapaksa clan and President Rajapaksa from power in Sri Lanka.

It seems that the protests and agitations against the President and the ruling Sri Lanka Podujana Peramuna (SLPP) government will not subside as long as President Gotabaya Rajapaksa remains in power, reported Daily Mirror."But it is a long process and takes time. The people need immediate solutions to their current grievances such as the power outage, the skyrocketing price of essential commodities, food shortage, the ever-escalating Cost of Living and many more. If we are to find immediate solutions to these pressing issues, first and foremost action must be taken to form a stable government," Sirisena said.

Watch |&nbsp;Gravitas: India won't deploy army to Sri Lanka

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The SLFP is of the view that an all-party interim government with no involvement of the Rajapaksa clan will win public confidence as there will be no unnecessary directives or orders from the executive with the re-introduction of the Constitutional provisions of the 19th Amendment."To do this, the SLFP expects the support and blessings of all political parties represented in Parliament," Sirisena stressed.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-seeking-3-billion-in-months-to-stave-off-crisis-finance-minister-469713">Sri Lanka seeking $3 billion in months to stave off crisis: Finance minister</a>

Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the COVID-19 pandemic. Sri Lanka is also facing a foreign exchange shortage, which has, incidentally, affected its capacity to import food and fuel, leading to the power cuts in the country. The shortage of essential goods forced Sri Lanka to seek assistance from friendly countries.&nbsp;

In a bid to find a solution to the current economic, political and social crisis in the country, President Gotabaya Rajapaksa will be holding a crucial meeting with 41 MPs who recently quit the ruling dispensation.

In a bid to find a solution to the current economic, political and social crisis in the country, President Gotabaya Rajapaksa will be holding a crucial meeting with 41 MPs who recently quit the ruling dispensation. The meeting between the Sri Lanka Freedom Party (SLFP) and President Rajapaksa is scheduled to be held at 7.00 pm this evening, reported Daily Mirror. The information of the decisive and crucial meeting was given by the former President and SLFP leader Maithripala Siriserna. Addressing the media at the party office today morning, he said the main objective of the meeting was to coerce President Rajapaksa to form an interim administration under an all-party Cabinet sans Rajapaksas with the least number of portfolios, reported Daily Mirror. Also read | More trouble for Gotabaya Rajapaksa as opposition mulls no-confidence motion against SL president "Before the interim administration is set up, the 19th Amendment to the Constitution must be re-introduced with added powers to curtail the executive powers of the executive presidency," he added. The entire country is demanding the removal of the Rajapaksa clan and President Rajapaksa from power in Sri Lanka. It seems that the protests and agitations against the President and the ruling Sri Lanka Podujana Peramuna (SLPP) government will not subside as long as President Gotabaya Rajapaksa remains in power, reported Daily Mirror."But it is a long process and takes time. The people need immediate solutions to their current grievances such as the power outage, the skyrocketing price of essential commodities, food shortage, the ever-escalating Cost of Living and many more. If we are to find immediate solutions to these pressing issues, first and foremost action must be taken to form a stable government," Sirisena said. Watch | Gravitas: India won't deploy army to Sri Lanka The SLFP is of the view that an all-party interim government with no involvement of the Rajapaksa clan will win public confidence as there will be no unnecessary directives or orders from the executive with the re-introduction of the Constitutional provisions of the 19th Amendment."To do this, the SLFP expects the support and blessings of all political parties represented in Parliament," Sirisena stressed. Also read | Sri Lanka seeking $3 billion in months to stave off crisis: Finance minister Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the COVID-19 pandemic. Sri Lanka is also facing a foreign exchange shortage, which has, incidentally, affected its capacity to import food and fuel, leading to the power cuts in the country. The shortage of essential goods forced Sri Lanka to seek assistance from friendly countries.

Sri Lanka's President Gotabaya Rajapaksa to hold crucial meeting with 41MPs

Sri&nbsp;Lanka&nbsp;will need about $3&nbsp;billion&nbsp;in external assistance within the next six&nbsp;months&nbsp;to help restore supplies of essential items, including fuel and medicines, to manage a severe economic&nbsp;crisis, its&nbsp;finance&nbsp;minister&nbsp;told&nbsp;Reuters&nbsp;on Saturday.

The island nation of 22 million people has been hit by prolonged power cuts, with drugs, fuel and other items running short, bringing angry protesters out on the streets and putting President Gotabaya Rajapaksa under mounting pressure.

"It's a Herculean task,"&nbsp;Finance&nbsp;Minister&nbsp;Ali Sabry said in his first interview since taking&nbsp;office this week, referring to finding $3&nbsp;billion&nbsp;in bridge financing as the country readied for negotiations with the International Monetary Fund (IMF) this month.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-doubles-interest-rates-to-tame-inflation-stabilise-economy-469544">Sri Lanka doubles interest rates to tame inflation; stabilise economy</a>

The South Asian island nation will look to restructure international sovereign bonds and seek a moratorium on payments, and is confident of negotiating with bondholders for an upcoming $1&nbsp;billion&nbsp;payment in July.

"The entire effort is not to go for a hard default," Sabry said. "We understand the consequences of a hard default."

J.P. Morgan analysts estimated this week that&nbsp;Sri&nbsp;Lanka's gross debt servicing would amount to $7&nbsp;billion&nbsp;this year, with the current account deficit coming in around $3&nbsp;billion.

The country has $12.55&nbsp;billion&nbsp;in outstanding international sovereign bonds, according to central bank data, and foreign reserves of $1.93&nbsp;billion&nbsp;at the end of March.

"The first priority is to see that we get back to the normal supply channel in terms of fuel, gas, drugs... and thereby electricity so that the people's uprising can be addressed," Sabry said.

Sense of confidence

Anti-government protests have raged across the island for days, with at least one turning violent in the country's commercial capital of Colombo, which have hurt the lucrative tourism industry that was ravaged by the COVID-19 pandemic.

Watch |&nbsp;Gravitas: India won't deploy army to Sri Lanka

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"We respect your right to protest, but no violence, because it is counterproductive," Sabry said.

"Our tourism, which was beautifully coming back in February with 140,000 tourists coming in, has been severely affected ever since the demonstrations."

Sabry said he will lead a delegation of&nbsp;Sri&nbsp;Lankan&nbsp;officials to Washington to start talks with the IMF on April 18 and that financial and legal advisers would be selected within 21 days to help the government restructure its international debt.

"Once we go to them, first thing is there is a sense of confidence in the entire international monetary community that we are serious," he said. "We are transparent, we are willing to engage."

On Friday, a new central bank governor raised interest rates by an unprecedented 700 basis points in a bid to tame rocketing inflation and stabilise the economy.

Sri&nbsp;Lankan authorities will also reach out to rating agencies, Sabry said, as the country looks to regain access to international financial markets after being locked out due to multiple ratings downgrades since 2020.

Sabry said the government will hike taxes and fuel prices within six&nbsp;months&nbsp;and seek to reform loss-making state-owned enterprises, in an effort to fix public&nbsp;finances.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/crisis-hit-sri-lanka-hikes-rates-by-record-as-protests-spiral-469411">Crisis-hit: Sri Lanka hikes rates by record as protests spiral</a>

These measures were among key recommendations in an IMF review of&nbsp;Sri&nbsp;Lanka's economy released in early March.

"These are very unpopular measures, but these are things we need to do for the country to come out of this," Sabry said. "But the choice is do you do that or do you go down the drain permanently?"

Friend of all

Sri&nbsp;Lanka&nbsp;will seek another $500 million credit line from India for fuel, which would suffice for about five weeks of requirements, Sabry said.

The government would also look for support from the Asian Development Bank, the World Bank and bilateral partners including China, the United States, Britain and countries in the Middle East.

"We know where we are, and the only thing is to fight back," Sabry said, looking relaxed in a blue T-shirt and jeans. "We have no choice."

Discussions are ongoing with China on a $1.5&nbsp;billion&nbsp;credit line, a syndicated loan of up to $1&nbsp;billion&nbsp;dollars and a request from&nbsp;Sri&nbsp;Lanka's president in January to restructure some debt.

"Hopefully we will be able to get some relief and which would help to keep the&nbsp;Sri&nbsp;Lanka&nbsp;community and the country afloat until larger infusions come in," Sabry said.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/exclusive-former-minister-calls-sri-lankas-current-situation-chaos-says-govt-trying-to-hold-on-to-power-469337">Exclusive | Sri Lanka crisis: Govt trying to hold on to power, cricket icon Arjuna Ranatunga tells WION</a>

Beijing and New Delhi have long jostled for influence over the strategically located island&nbsp;off&nbsp;India's southern tip, with the country pulling closer to China under the powerful Rajapaksa family.

But in recent weeks, as the economic&nbsp;crisis&nbsp;deepened,&nbsp;Sri&nbsp;Lanka&nbsp;has leaned heavily on assistance from India.

"We are a neutral country. We are friend of all," said Sabry, a lawyer who previously served as&nbsp;Sri&nbsp;Lanka's justice&nbsp;minister. "So we think that goodwill will come in handy at this point in time."

Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on Saturday.

Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on Saturday. The island nation of 22 million people has been hit by prolonged power cuts, with drugs, fuel and other items running short, bringing angry protesters out on the streets and putting President Gotabaya Rajapaksa under mounting pressure. "It's a Herculean task," Finance Minister Ali Sabry said in his first interview since taking office this week, referring to finding $3 billion in bridge financing as the country readied for negotiations with the International Monetary Fund (IMF) this month. Also read | Sri Lanka doubles interest rates to tame inflation; stabilise economy The South Asian island nation will look to restructure international sovereign bonds and seek a moratorium on payments, and is confident of negotiating with bondholders for an upcoming $1 billion payment in July. "The entire effort is not to go for a hard default," Sabry said. "We understand the consequences of a hard default." J.P. Morgan analysts estimated this week that Sri Lanka's gross debt servicing would amount to $7 billion this year, with the current account deficit coming in around $3 billion. The country has $12.55 billion in outstanding international sovereign bonds, according to central bank data, and foreign reserves of $1.93 billion at the end of March. "The first priority is to see that we get back to the normal supply channel in terms of fuel, gas, drugs... and thereby electricity so that the people's uprising can be addressed," Sabry said. Sense of confidence Anti-government protests have raged across the island for days, with at least one turning violent in the country's commercial capital of Colombo, which have hurt the lucrative tourism industry that was ravaged by the COVID-19 pandemic. Watch | Gravitas: India won't deploy army to Sri Lanka "We respect your right to protest, but no violence, because it is counterproductive," Sabry said. "Our tourism, which was beautifully coming back in February with 140,000 tourists coming in, has been severely affected ever since the demonstrations." Sabry said he will lead a delegation of Sri Lankan officials to Washington to start talks with the IMF on April 18 and that financial and legal advisers would be selected within 21 days to help the government restructure its international debt. "Once we go to them, first thing is there is a sense of confidence in the entire international monetary community that we are serious," he said. "We are transparent, we are willing to engage." On Friday, a new central bank governor raised interest rates by an unprecedented 700 basis points in a bid to tame rocketing inflation and stabilise the economy. Sri Lankan authorities will also reach out to rating agencies, Sabry said, as the country looks to regain access to international financial markets after being locked out due to multiple ratings downgrades since 2020. Sabry said the government will hike taxes and fuel prices within six months and seek to reform loss-making state-owned enterprises, in an effort to fix public finances. Also read | Crisis-hit: Sri Lanka hikes rates by record as protests spiral These measures were among key recommendations in an IMF review of Sri Lanka's economy released in early March. "These are very unpopular measures, but these are things we need to do for the country to come out of this," Sabry said. "But the choice is do you do that or do you go down the drain permanently?" Friend of all Sri Lanka will seek another $500 million credit line from India for fuel, which would suffice for about five weeks of requirements, Sabry said. The government would also look for support from the Asian Development Bank, the World Bank and bilateral partners including China, the United States, Britain and countries in the Middle East. "We know where we are, and the only thing is to fight back," Sabry said, looking relaxed in a blue T-shirt and jeans. "We have no choice." Discussions are ongoing with China on a $1.5 billion credit line, a syndicated loan of up to $1 billion dollars and a request from Sri Lanka's president in January to restructure some debt. "Hopefully we will be able to get some relief and which would help to keep the Sri Lanka community and the country afloat until larger infusions come in," Sabry said. Also read | Exclusive | Sri Lanka crisis: Govt trying to hold on to power, cricket icon Arjuna Ranatunga tells WION Beijing and New Delhi have long jostled for influence over the strategically located island off India's southern tip, with the country pulling closer to China under the powerful Rajapaksa family. But in recent weeks, as the economic crisis deepened, Sri Lanka has leaned heavily on assistance from India. "We are a neutral country. We are friend of all," said Sabry, a lawyer who previously served as Sri Lanka's justice minister. "So we think that goodwill will come in handy at this point in time."

Sri Lanka seeking $3 billion in months to stave off crisis: Finance minister

Sri Lankan President Gotabaya Rajapaksa admitted his government is "not delivering" as shortages persist of food, medicines and other essential items because of a dire foreign exchange squeeze.

"The people may have a sense of displeasure towards me and the government for not delivering as they expected," Rajapaksa's office quoted him as saying on Sunday.&nbsp;

"I accept that. Not only me, but all ministers and Members of Parliament should accept it," he told troops in a speech marking the 72nd anniversary of the military's founding.

A shortage of foreign currency has hindered the ability of the island nation of 21 million people to import goods, prompting the government to declare a state of emergency and impose rationing.

On Friday, the government removed price restrictions on essential foods in a desperate bid to end hoarding of staples such as rice, sugar, lentils and milk powder.

Within hours of Rajapaksa's remarks on Sunday, the government also announced an 85 per cent hike in the price of liquified petroleum gas used in cooking stoves, starting Monday.

The prices of wheat flour and cement were also increased by nearly 10 per cent.

The state-run Petroleum Corporation said it was asking the government to substantially increase retail prices for all fuels to offset losses of $350 million in the first eight months of this year.

Private economists and international rating agencies say Sri Lanka's economic woes predate the pandemic.

Foreign reserves were $7.5 billion when Rajapaksa took office in November 2019 but had fallen to $2.5 billion by the end of September, raising concerns about Colombo's ability to service its huge foreign debt.

Soon after coming to power, Rajapaksa slashed sales taxes by half and drastically reduced taxes on corporate profits and personal income, hoping it would boost investments and strengthen the economy.

But instead Sri Lanka recorded its worst economic performance last year with a 3.6 percent contraction in output fuelled largely by the fallout from the pandemic on tourism.

The government banned imports of non-essential goods, including vehicles, in March 2020 because of the currency shortages.

Sri Lankan President Gotabaya Rajapaksa admitted his government is "not delivering" as shortages persist of food, medicines and other essential items because of a dire foreign exchange squeeze.

Sri Lankan President Gotabaya Rajapaksa admitted his government is "not delivering" as shortages persist of food, medicines and other essential items because of a dire foreign exchange squeeze. "The people may have a sense of displeasure towards me and the government for not delivering as they expected," Rajapaksa's office quoted him as saying on Sunday. "I accept that. Not only me, but all ministers and Members of Parliament should accept it," he told troops in a speech marking the 72nd anniversary of the military's founding. A shortage of foreign currency has hindered the ability of the island nation of 21 million people to import goods, prompting the government to declare a state of emergency and impose rationing. On Friday, the government removed price restrictions on essential foods in a desperate bid to end hoarding of staples such as rice, sugar, lentils and milk powder. Within hours of Rajapaksa's remarks on Sunday, the government also announced an 85 per cent hike in the price of liquified petroleum gas used in cooking stoves, starting Monday. The prices of wheat flour and cement were also increased by nearly 10 per cent. The state-run Petroleum Corporation said it was asking the government to substantially increase retail prices for all fuels to offset losses of $350 million in the first eight months of this year. Private economists and international rating agencies say Sri Lanka's economic woes predate the pandemic. Foreign reserves were $7.5 billion when Rajapaksa took office in November 2019 but had fallen to $2.5 billion by the end of September, raising concerns about Colombo's ability to service its huge foreign debt. Soon after coming to power, Rajapaksa slashed sales taxes by half and drastically reduced taxes on corporate profits and personal income, hoping it would boost investments and strengthen the economy. But instead Sri Lanka recorded its worst economic performance last year with a 3.6 percent contraction in output fuelled largely by the fallout from the pandemic on tourism. The government banned imports of non-essential goods, including vehicles, in March 2020 because of the currency shortages.

Sri Lanka President Gotabaya Rajapaksa admits to 'not delivering' amid economic struggle

Sri Lanka President Gotabaya Rajapaksa announced on Monday that he would seek a second term, said media reports. This is a reversal of a promise to only stay for five years.

The nationalist leader told top media executives that he needed more time to fix Sri Lanka's worsening economic crisis, said the media reports.

Rajapaksa had said during his triumphant 2019 election campaign that he would be a one-term president.

He reaffirmed last year that a single term would be sufficient to implement his ambitious plans. This triggered a succession struggle within the powerful Rajapaksa family.&nbsp;

Elections are not due until 2024, but Rajapaksa now says he needs five more years to implement his "Vistas of Prosperity and Splendour" manifesto after the economy contracted by a record 3.6 percent in his first year. The government has banned many imports because of a foreign currency crunch.

Rajapaksa "today declared that he would contest for a second term", the pro-government The Morning website quoted him as telling media owners.

Rajapaksa's statements have set off speculations about Rajapaksa family's plan to remain a dominant political force.

The elevation of the president's youngest brother Basil, 70, as finance minister earlier this month was widely seen as a move to groom him for the presidency.

Basil was thought to have edged out his nephew, Namal, the minister of sports and eldest son of Prime Minister Mahinda Rajapaksa, to be the next family leader.&nbsp;

"Another U-turn and maybe this squashes Basil's chances for the next presidency," said Jamila Husain, a deputy editor of the Daily Mirror newspaper, on Twitter.

Since his election, Gotabaya Rajapaksa has tightened the family grip on power.

(With inputs from agencies)

Sri Lanka President Gotabaya Rajapaksa announced on Monday that he would seek a second term, said media reports. This is a reversal of a promise to only stay for five years.

Sri Lanka President Gotabaya Rajapaksa announced on Monday that he would seek a second term, said media reports. This is a reversal of a promise to only stay for five years. The nationalist leader told top media executives that he needed more time to fix Sri Lanka's worsening economic crisis, said the media reports. Rajapaksa had said during his triumphant 2019 election campaign that he would be a one-term president. He reaffirmed last year that a single term would be sufficient to implement his ambitious plans. This triggered a succession struggle within the powerful Rajapaksa family. Elections are not due until 2024, but Rajapaksa now says he needs five more years to implement his "Vistas of Prosperity and Splendour" manifesto after the economy contracted by a record 3.6 percent in his first year. The government has banned many imports because of a foreign currency crunch. Rajapaksa "today declared that he would contest for a second term", the pro-government The Morning website quoted him as telling media owners. Rajapaksa's statements have set off speculations about Rajapaksa family's plan to remain a dominant political force. The elevation of the president's youngest brother Basil, 70, as finance minister earlier this month was widely seen as a move to groom him for the presidency. Basil was thought to have edged out his nephew, Namal, the minister of sports and eldest son of Prime Minister Mahinda Rajapaksa, to be the next family leader. "Another U-turn and maybe this squashes Basil's chances for the next presidency," said Jamila Husain, a deputy editor of the Daily Mirror newspaper, on Twitter. Since his election, Gotabaya Rajapaksa has tightened the family grip on power. (With inputs from agencies)

Sri Lanka President Gotabaya Rajapaksa to seek second term

External Affairs Minister S Jaishankar arrived here on Tuesday on a three-day visit to Sri Lanka during which he will hold talks with the country's top leadership and discuss issues of mutual and bilateral interests,

External Affairs Minister S Jaishankar reaches Sri Lanka to meet President & PM

The controversial 20th Amendment aimed at enhancing the Sri Lankan President’s powers cleared its first hurdle when the country’s Supreme Court cleared it for passage. Watch report.

20th amendment gives more power to Lankan President

Sri Lanka's President Gotabaya Rajapaksa named two more relatives to a new government unveiled Wednesday, further consolidating his family's grip on power.

His brother Mahinda will lead the government, formed after their nationalist party's landslide win in a parliamentary election last week.

Gotabaya and Mahinda will control the key defence and finance portfolios, respectively, in the new 26-member cabinet.

Also see:&nbsp;<a href="https://www.wionews.com/photos/meet-the-rajapaksa-dynasty-patriarch-terminator-mr-ten-percent-bodyguard-and-scion-318857">Meet the Rajapaksa dynasty: Patriarch, 'Terminator', 'Mr Ten Percent', 'bodyguard' and scion</a>

Their elder brother Chamal kept his place in the cabinet and was joined by Mahinda's eldest son, Namal, who was named sports minister.

The growing dynastic imprint was strengthened by one of their nephews, Shasheendra Rajapaksa, who joined the government as a state agriculture minister though he will not be in the cabinet.

Gotabaya Rajapaksa, 71, became president in November last year and named Mahinda, a 74-year-old former president, as prime minister.

Pursuing a nationalist agenda, their party has won a two-thirds majority in parliament, which allows them to change the constitution and tighten their hold on power.

The brothers want to scrap a 2015 constitutional amendment which transferred some executive powers from the president to the prime minister, along with independent institutions to run public services and the judiciary.

In the new cabinet, Mahinda was given three portfolios -- finance, culture and housing -- while their eldest brother Chamal, 77, was given irrigation, a powerful position in largely rural Sri Lanka.

Chamal was also made the state minister for defence, a non-cabinet position responsible for internal security and disaster management.

The swearing-in of ministers was carried out at the Temple of the Tooth, the holiest Buddhist shrine, in the presence of saffron-robed monks and other guests in Kandy, 115 kilometres (71 miles) east of Colombo.

The venue was carefully chosen to reinforce the Rajapaksa family's appeal to their majority Sinhala-Buddhist constituency.

The president took his oath after his November landslide in front of a pagoda built by a legendary Sinhala king known to have vanquished a rival from the minority Tamil community.

Mahinda was sworn in as Prime Minister on Sunday at the Kelaniya temple which Buddhists in Sri Lanka believe to have been visited by the Buddha himself.

Sri Lanka's President Gotabaya Rajapaksa named two more relatives to a new government unveiled Wednesday, further consolidating his family's grip on power. His brother Mahinda will lead the government, formed after their nationalist party's landslide win in a parliamentary election last week.

Sri Lanka's President Gotabaya Rajapaksa named two more relatives to a new government unveiled Wednesday, further consolidating his family's grip on power. His brother Mahinda will lead the government, formed after their nationalist party's landslide win in a parliamentary election last week. Gotabaya and Mahinda will control the key defence and finance portfolios, respectively, in the new 26-member cabinet. Also see: Meet the Rajapaksa dynasty: Patriarch, 'Terminator', 'Mr Ten Percent', 'bodyguard' and scion Their elder brother Chamal kept his place in the cabinet and was joined by Mahinda's eldest son, Namal, who was named sports minister. The growing dynastic imprint was strengthened by one of their nephews, Shasheendra Rajapaksa, who joined the government as a state agriculture minister though he will not be in the cabinet. Gotabaya Rajapaksa, 71, became president in November last year and named Mahinda, a 74-year-old former president, as prime minister. Pursuing a nationalist agenda, their party has won a two-thirds majority in parliament, which allows them to change the constitution and tighten their hold on power. The brothers want to scrap a 2015 constitutional amendment which transferred some executive powers from the president to the prime minister, along with independent institutions to run public services and the judiciary. In the new cabinet, Mahinda was given three portfolios -- finance, culture and housing -- while their eldest brother Chamal, 77, was given irrigation, a powerful position in largely rural Sri Lanka. Chamal was also made the state minister for defence, a non-cabinet position responsible for internal security and disaster management. The swearing-in of ministers was carried out at the Temple of the Tooth, the holiest Buddhist shrine, in the presence of saffron-robed monks and other guests in Kandy, 115 kilometres (71 miles) east of Colombo. The venue was carefully chosen to reinforce the Rajapaksa family's appeal to their majority Sinhala-Buddhist constituency. The president took his oath after his November landslide in front of a pagoda built by a legendary Sinhala king known to have vanquished a rival from the minority Tamil community. Mahinda was sworn in as Prime Minister on Sunday at the Kelaniya temple which Buddhists in Sri Lanka believe to have been visited by the Buddha himself.

Sri Lanka president strengthens Rajapaksa dynasty in new government

With 619 total positive coronavirus cases and 7 deaths, Sri Lanka has been subject to economic and health problems since it began the nationwide lockdown. As the country is trying to fight the war against the virus, the island is also facing political disturbances.

The number of positive cases increased tremendously after 30 new positive cases were&nbsp;reported in a Sri Lankan Navy facility few days ago. Colombo is one the worst-hit cities in the country with more than 150 cases.&nbsp;Health officials have said that&nbsp;they have increased the PCR (Polymerase Chain Reaction) tests and&nbsp;aim to conduct around 100 PCR tests in a day.

<a href="https://www.wionews.com/world/sewage-new-way-to-deduct-prevalence-of-covid-19-by-scientists-295127">Sewage: New way to deduct prevalence of Covid-19 by scientists</a>

Now, the country is also facing a huge cash crunch as the Parliament has been shut for the past few weeks with respect to the lockdown.&nbsp;Opposition MP and former finance minister Mangala Samaraweera demanded an&nbsp;immediate return of the 225-member assembly to avoid a financial crisis.

"Failure to do so, especially at a time of a pandemic is bound to have serious repercussions... in light of international obligations," Samaraweera said in a letter to the President.

Also read:&nbsp;<a href="https://www.wionews.com/world/curb-coronavirus-root-cause-or-bear-worse-pandemics-say-worlds-leading-scientists-295122" hreflang="en">Curb coronavirus' root cause or bear worse pandemics, say top scientists</a>

The opposition is accusing the President Gotabaya Rajapaksa of using this&nbsp;lockdown to sidestep constitutional requirements, and have called on urgently&nbsp;recalling parliament, which was dissolved ahead of elections.

"The question is whether they want a parliament at all. To me it looks like they want to continue without a parliament," former legislator Harsha de Silva told a media organization.

The President has dismissed all accusations assuring that he means well for his citizens.

With 619 total positive coronavirus cases and 7 deaths, Sri Lanka has been subject to economic and health problems since it began the nationwide lockdown. As the country is trying to fight the war against the virus, the island is also facing political disturbances.

With 619 total positive coronavirus cases and 7 deaths, Sri Lanka has been subject to economic and health problems since it began the nationwide lockdown. As the country is trying to fight the war against the virus, the island is also facing political disturbances. The number of positive cases increased tremendously after 30 new positive cases were reported in a Sri Lankan Navy facility few days ago. Colombo is one the worst-hit cities in the country with more than 150 cases. Health officials have said that they have increased the PCR (Polymerase Chain Reaction) tests and aim to conduct around 100 PCR tests in a day. Sewage: New way to deduct prevalence of Covid-19 by scientists Now, the country is also facing a huge cash crunch as the Parliament has been shut for the past few weeks with respect to the lockdown. Opposition MP and former finance minister Mangala Samaraweera demanded an immediate return of the 225-member assembly to avoid a financial crisis. "Failure to do so, especially at a time of a pandemic is bound to have serious repercussions... in light of international obligations," Samaraweera said in a letter to the President. Also read: Curb coronavirus' root cause or bear worse pandemics, say top scientists The opposition is accusing the President Gotabaya Rajapaksa of using this lockdown to sidestep constitutional requirements, and have called on urgently recalling parliament, which was dissolved ahead of elections. "The question is whether they want a parliament at all. To me it looks like they want to continue without a parliament," former legislator Harsha de Silva told a media organization. The President has dismissed all accusations assuring that he means well for his citizens.

Sri Lanka in financial crisis as Parliament shuts due to coronavirus

While taking oath, Gotabaya Rajapaksa promised to be an 'Everybody's President'. But recent events in Sri Lanka send a different kind of message.

WION Edit: Can the Rajapaksas unite Sri Lanka?

Are the Rajapaksas cracking down on critics? A Top Cop leading investigations against Sri Lanka's most powerful family has left the country. An official of the Swiss embassy was detained and harassed in Colombo.

Gravitas: Fears of an Impending crackdown in Sri Lanka

Sri Lankan President Gotabaya Rajapaksa on Monday said that he looks forward to "maintaining warm and mutually beneficial bilateral relations" with India in all aspects.

The newly elected president, who just concluded a "successful" <a href="https://www.wionews.com/south-asia/china-will-take-belt-and-road-initiative-all-over-unless-other-countries-provide-alternative-warns-sri-lankas-gotabaya-rajapaksa-265560">visit to India</a>, said that the "respect" accorded by Prime Minister Narendra Modi-led government during his trip has helped in revitalizing the historical bond between Colombo and New Delhi." At the conclusion of a very successful visit to #India, the remarkable welcome, hospitality &amp; respect accorded by PM Narendra Modi &amp; govt has revitalized the historical bond btw #India &amp; #LKA. I look fwd to maintaining a warm &amp; mutually beneficial bilateral relations in all aspects," Rajapaksa tweeted, along with a two-minute video comprising highlights of his trip.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
At the conclusion of a very successful visit to <a href="https://twitter.com/hashtag/India?src=hash&amp;ref_src=twsrc%5Etfw">#India</a>, the remarkable welcome, hospitality &amp; respect accorded by <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> &amp; Govt has revitalized the historical bond btw <a href="https://twitter.com/hashtag/India?src=hash&amp;ref_src=twsrc%5Etfw">#India</a> &amp; <a href="https://twitter.com/hashtag/LKA?src=hash&amp;ref_src=twsrc%5Etfw">#LKA</a>. I look fwd to maintaining a warm &amp; mutually beneficial bilateral relations in all aspects <a href="https://t.co/Ell8An0uTu">pic.twitter.com/Ell8An0uTu</a>
— Gotabaya Rajapaksa (@GotabayaR) <a href="https://twitter.com/GotabayaR/status/1201344703112761344?ref_src=twsrc%5Etfw">December 2, 2019</a></blockquote>
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During his three day visit November 28-30, Rajapaksa held talks with <a href="https://www.wionews.com/india-news/will-work-together-with-india-says-sri-lanka-president-gotabaya-in-joint-statement-with-pm-modi-265215">Prime Minister Narendra Modi</a>, External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval on a wide range of issues including security and development.

Rajapaksa was received by President Ram Nath Kovind and Prime Minister Modi and was accorded a ceremonial welcome upon his arrival at the Rashtrapati Bhavan.

India announced financial assistance of USD 400 million and USD 50 million to Sri Lanka for counter-terrorism.

Rajapaksa said that his country will work closely with India to ensure that the Indian Ocean "remains a zone of peace", and assured that he will take steps to release the Indian fishermen's boats which are in Sri Lanka's custody.

He also extended an invitation to Modi to visit the island nation at a mutually convenient time. India also took up the matter of Sri Lankan minority Tamil community with Rajapaksa.

Prime Minister Modi, during the joint statement, said, that he is confident the Sri Lankan government will pursue the process of reconciliation to meet the aspirations of equality, justice, peace and respect of Tamils.&nbsp; 
&nbsp;

Sri Lankan President Gotabaya Rajapaksa on Monday said that he looks forward to "maintaining warm and mutually beneficial bilateral relations" with India in all aspects.

Sri Lankan President Gotabaya Rajapaksa on Monday said that he looks forward to "maintaining warm and mutually beneficial bilateral relations" with India in all aspects. The newly elected president, who just concluded a "successful" visit to India, said that the "respect" accorded by Prime Minister Narendra Modi-led government during his trip has helped in revitalizing the historical bond between Colombo and New Delhi." At the conclusion of a very successful visit to #India, the remarkable welcome, hospitality & respect accorded by PM Narendra Modi & govt has revitalized the historical bond btw #India & #LKA. I look fwd to maintaining a warm & mutually beneficial bilateral relations in all aspects," Rajapaksa tweeted, along with a two-minute video comprising highlights of his trip. At the conclusion of a very successful visit to #India, the remarkable welcome, hospitality & respect accorded by @narendramodi & Govt has revitalized the historical bond btw #India & #LKA. I look fwd to maintaining a warm & mutually beneficial bilateral relations in all aspects pic.twitter.com/Ell8An0uTu — Gotabaya Rajapaksa (@GotabayaR) December 2, 2019 × During his three day visit November 28-30, Rajapaksa held talks with Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval on a wide range of issues including security and development. Rajapaksa was received by President Ram Nath Kovind and Prime Minister Modi and was accorded a ceremonial welcome upon his arrival at the Rashtrapati Bhavan. India announced financial assistance of USD 400 million and USD 50 million to Sri Lanka for counter-terrorism. Rajapaksa said that his country will work closely with India to ensure that the Indian Ocean "remains a zone of peace", and assured that he will take steps to release the Indian fishermen's boats which are in Sri Lanka's custody. He also extended an invitation to Modi to visit the island nation at a mutually convenient time. India also took up the matter of Sri Lankan minority Tamil community with Rajapaksa. Prime Minister Modi, during the joint statement, said, that he is confident the Sri Lankan government will pursue the process of reconciliation to meet the aspirations of equality, justice, peace and respect of Tamils.

Respect accorded by Modi government revitalised bond between India and Sri Lanka: Gotabaya Rajapaksa

Gotabaya's India visit: Fresh start between India and Sri Lanka? Watch video to know more.

Gotabaya's India visit: Fresh start between India and Sri Lanka?

Sri Lanka: Former President Mahinda Rajapaksa is new Prime Minister. Watch video to know more.

Sri Lanka: Former President Mahinda Rajapaksa is new Prime Minister

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