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Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. (Only the headline and picture of this report may have been reworked by the Business Standard staff the rest of the content is auto-generated from a syndicated feed.)īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The economic crisis has particularly impacted food security, agriculture, livelihoods, and access to health services. The oil supply shortage has forced schools and government offices to close until further notice. Sri Lanka is suffering its worst economic crisis since its independence in 1948, which comes on the heels of successive waves of COVID-19.
Over the last few weeks, there were reports of several confrontations between individuals and members of the police force and the armed forces at fuel stations where thousands of people queued for hours and sometimes days. The worsening economic situation in the country has led to increasing tensions. However, the protesters who have occupied the residences of the President and Prime Minister have cleared that they will continue to occupy their houses until they resign from their posts. Prime Minister Wickremesinghe also announced to step down from his post amid the ongoing protests. Several journalists were also attacked by the security forces after which more protestors gathered in the area. The protestors also took control of the President's house and turned it into a tourist hub.Įarlier, on Saturday, Speaker Mahinda Yapa Abeywardena announced in a press conference that President Rajapaksa will resign from his post on July 13. Sri Lankan protesters broke into Prime Minister Ranil Wickremesinghe's private residence on Saturday and set it on fire, angered by the unprecedented economic crisis. Rajapaksa who was aboard a tri-force naval vessel within the territorial waters of Sri Lanka following the July 9 protest, returned back to land on Monday and met the tri-force commanders and Chief of Defense staff in the morning, reported Daily Mirror.
Amid the political and economic unrest in Sri Lanka, President Gotabaya Rajapaksa met with the tri-force commanders and the Chief of Defence staff, local media reported.
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