Image source: Overseas Network quoted Sri Lankan media "adaderana"
Overnight change. Sri Lankan media reported on the evening of July 9 that President Rajapaksa has informed Speaker Abbevardna that he will resign as president on July 13.
Sri Lanka's Prime Minister's Office issued a statement earlier in the day saying that Sri Lankan Prime Minister Vikramasingha was willing to resign in order to facilitate the formation of a new government with the participation of all parties. Vikramasingha said on social media on the same day that he would resign, "In order to ensure the continued existence of the government, including the safety of all citizens, I accept the best advice from the leaders of all parties today to make way for the formation of a full-party government." To this end, I will resign as Prime Minister".
Sri Lankan Prime Minister Vikramasingha Image source: Overseas Network quoted Sri Lankan media "adaderana"
On the 9th, three days after Vikramasingha declared the "bankruptcy of the country", thousands of protesters in Sri Lanka rushed into the presidential residence and the presidential office area to demand that the president step down. According to local media reports, more than 30 people were injured during the protests.
According to the overseas network quoted by Sri Lanka's "Daily Mirror" report, on the 9th local time, a large number of protesters in Colombo, the capital of Sri Lanka, broke into the presidential palace. There is a swimming pool inside the mansion, and some protesters have entered the pool to swim. Some protesters also entered the kitchen inside the mansion. Sri Lankan President Gotabaya Rajapaksa is believed to have been moved to a safe location.
It is reported that thousands of protesters gathered outside the Sri Lankan presidential palace, and the protesters clashed with the Sri Lankan police outside the mansion, 2 people were shot and injured, the police fired warning shots into the air, and sprayed tear gas on the crowd.
According to the Overseas Network quoted by the Russian Satellite News Agency, the Sri Lankan Prime Minister's Office issued a statement on the 9th that protesters broke into Prime Minister Viklamasingha's mansion and set fire to the house. The statement did not state the prime minister himself. Police said the arson had not yet caused casualties and that the prime minister himself and his family were not at home at the time of the incident.
Image source: Overseas Network quoted a screenshot of the Russian Satellite News Agency video
Leaders of Sri Lanka's political parties met that afternoon to demand the resignation of President Rajapaksa and Prime Minister Vikramasingha and the acting of the President in accordance with the Constitution for no more than 30 days.
According to CCTV News, on the evening of July 9, local time, Sri Lankan Prime Minister Ranil Vikramasinghe issued a special statement, saying that the country cannot continue without a government, and that a new government needs to be formed before the current government steps down.
Reminder from the Chinese Embassy in Sri Lanka
Chinese citizens in Sri Lanka strengthen security precautions
On July 9, the Chinese Embassy in Sri Lanka issued a reminder that a mass protest march in Sri Lanka had taken place and protesters had entered the Sri Lankan presidential palace, and that many people had been injured.
The Chinese Embassy in Sri Lanka reminds Chinese citizens in Sri Lanka to pay close attention to the local security situation, not to participate in or watch any protests, abide by local laws and regulations, increase vigilance, pay attention to safety, strengthen precautions, reduce going out, maintain smooth communications, and pay attention to the embassy's notice and reminder in a timely manner. In case of emergency, please call the police and contact the Chinese Embassy in Sri Lanka for assistance.
The country is bankrupt
Gasoline margin is less than a day's requirement
According to public information from the Ministry of Foreign Affairs, the Democratic Socialist Republic of Sri Lanka is an island country in the Indian Ocean south of the South Asian subcontinent, across the Palk Strait to the northwest, and India, with a total population of 21.67 million (2018).
This week, Sri Lanka's prime minister has acknowledged "national bankruptcy." According to the reference news quoted on the website of Singapore's Lianhe Zaobao on July 6, Sri Lankan Prime Minister Vikramasingha said that Sri Lanka has gone bankrupt and this unprecedented economic crisis will last at least until the end of 2023.
Vikramasingha told Congress on July 5 that the country would fall into a deep recession this year and that severe shortages of food, fuel and medicine would continue. "We will face many difficulties in 2023. This is the reality we face. ”
He said Sri Lanka's ongoing bailout talks with the International Monetary Fund depended on a debt restructuring plan with creditors by August. "Since the country is in bankruptcy, we have to submit another sustainable debt servicing plan to them. Only when (IMF) is satisfied with the plan can we reach an agreement. ”
Inflation is expected to rise to 60 per cent, he said, and the government aims to curb inflation by stopping the printing of rupees.
Sri Lanka is reported to have almost no gasoline at the moment. CCTV News reported that Sri Lanka's Minister of Electricity and Energy, Kanciana Vijsekra, said on July 3 that Sri Lanka has more than 12,000 tons of diesel and 4,061 tons of gasoline stocks, and the gasoline surplus is not even enough to support the usual daily demand. A new batch of diesel is expected to arrive in the near future, and gasoline is expected to arrive later this month.
In response to the fuel shortage, Sri Lanka temporarily banned non-essential vehicle refueling last week, closed schools and required people to work from home. Fuel shortages coincide with a deteriorating fiscal position for the Sri Lankan government, which is now saddled with heavy debt and faces a shortage of foreign exchange.
Vijay Sekla said on the 3rd that the Central Bank of Sri Lanka may only be able to pay $125 million for imported energy, far below the $587 million needed for planned imports. Sri Lanka is working to raise funds to pay for the next few instalments of energy imports, he said.
According to the BBC, UNICEF notes that Sri Lanka is on the brink of a humanitarian crisis. Since the beginning of this year, 70% of local households have lost their meals, and stocks of fuel and basic medical supplies have been rapidly depleted. In June alone, food prices in Sri Lanka soared by 80 per cent.
How did Sri Lanka come to this?
China News Network previously pointed out that the reason why Sri Lanka has fallen into an economic crisis is related to various factors at home and abroad.
From an internal perspective, after Gotabaya Rajapaksa became president in 2019, he began to implement tax cuts, resulting in a reduction in government revenue and weakening the ability to respond to the crisis. The Sri Lankan government's printing of additional banknotes to repay domestic loans and foreign bonds has accelerated inflation.
Some experts believe that Sri Lanka's problems can be attributed to the fact that its foreign exchange reserves have actually dried up. Poor economic management is the main reason.
Since the end of Sri Lanka's civil war in 2009, the country has chosen to focus more on the domestic market than on selling to foreign markets. Thus, while export earnings remain low, import spending is growing.
In early 2021, when Sri Lanka's currency shortage became a serious problem, the government tried to stem the outflow of foreign exchange, banning all imports of fertilizer and allowing farmers to use organic fertilizers, which led to widespread crop failures. Sri Lanka had to replenish its food reserves from abroad, exacerbating its foreign exchange shortages.
On the other hand, the COVID-19 pandemic has hit Sri Lanka's economy hard, significantly reducing tourism revenues, one of the country's largest sources of foreign exchange earnings.
In addition, since the outbreak of the Russian-Ukrainian conflict, Western countries have continued to impose sanctions on Russia, resulting in high energy and food prices, which has further affected Sri Lanka.
Editor丨Zhang Yajing Comprehensive CCTV News, Beijing Business Daily (reporter Tao Feng, Zhao Tianshu), Overseas Network, Global Times, Beijing Daily, China News Network, etc
Photo 丨Visual China, Overseas Network, Global Times, CCTV News Video Screenshot, Chinese Embassy in Sri Lanka Website Screenshot, Haike News Video Screenshot, etc