Sri Lankan PM Mahinda Rajapaksa likely to resign amid ongoing economic crisis

In a massive development, amid the ongoing economic turmoil in the country, Sri Lankan Prime Minister Mahinda Rajapaksa is likely to step down. According to reports, the Prime Minister has responded positively to President Gotabaya Rajapaksa's request to resign from his position owing to the country's current situation. This comes a day after the President announced a state of emergency across the country. The Prime Minister agreed to step down at a special cabinet meeting convened by President Gotabaya Rajapaksa at the Presidential House on May 6, the Colombo Page reported. 

The Sri Lankan Cabinet has been notified that Prime Minister Mahinda Rajapaksa has asked to resign due to his failure to deal with the country's ongoing economic crisis. His departure will also result in the dissolution of the Cabinet. Furthermore, Mahinda Rajapaksa has declared that if the only way to resolve the country's ongoing economic crisis is for him to quit, he is willing to do so. 

In the face of significant public resistance and the country's economic and political crisis, President Gotabaya Rajapaksa has remarked that managing the country's economy has become a major concern. He argued that tourists have stopped visiting the country and factories are also getting shut down, resulting in a terrible economic disaster. Meanwhile, Minister Wimalaweera Dissanayake has claimed that the Prime Minister's resignation is not going to solve the purpose. As per the Colombo Page report, a cabinet reshuffle is also likely to take place in June.

Sri Lankan crisis

It is pertinent to mention here that the Sri Lankan government is currently struggling to meet basic requirements for its population of 22 million citizens amid an unprecedented economic crisis caused by mishandling of finances and ill-timed tax cuts. The island nation is also currently facing a foreign exchange deficit, which has resulted in food, fuel, power, and gas shortages, and has sought economic assistance from friendly countries. Meanwhile, people in the island nation have been protesting nearly for a month demanding for the government, led by the Rajapaksa family, resign. 

Image: ANI