Sri Lankan PM announces emergency meeting of party leaders due to protests

Sri Lankan Prime Minister Ranil Wickremesinghe has announced an emergency meeting of party leaders amid protests sparked as a result of the deteriorating economic situation in the country.

Protesters broke into the residence of Sri Lankan President Gotabaya Rajapaksa on July 9. The police dispersed the demonstrators by using tear gas. As a result, 33 people were hospitalized, according to Newsfirst.lk.

Thus, protests in Sri Lanka have been underway since April 2022. Local residents are dissatisfied with the deteriorating economic situation in the country, lack of fuel, food, essential goods, and living conditions.

The crisis is caused by a decrease in foreign tourism revenues due to the COVID-19 pandemic, which has led to a shortage of foreign exchange reserves. As a result, the authorities began to save resources and reduced imports.

Foreign borrowing and the fight against the economic crisis are hampered by the country's debt, which has reached $51 billion.