The China Mail - Crisis-hit Sri Lanka appoints new PM to replace president's brother

USD -
AED 3.672504
AFN 64.000368
ALL 81.109773
AMD 359.873322
ANG 1.789785
AOA 918.000367
ARS 1528.316696
AUD 1.422678
AWG 1.8025
AZN 1.70397
BAM 1.74477
BBD 2.011597
BDT 123.993042
BGN 1.747831
BHD 0.377091
BIF 2997.279094
BMD 1
BND 1.275971
BOB 12.110264
BRL 5.440104
BSD 0.998796
BTN 94.782997
BWP 13.79901
BYN 2.942058
BYR 19600
BZD 2.008653
CAD 1.39745
CDF 2315.000362
CHF 0.823841
CLF 0.025228
CLP 992.920396
CNY 6.661104
CNH 6.651304
COP 3164.280298
CRC 454.168339
CUC 1
CUP 23.969847
CVE 98.367456
CZK 21.81604
DJF 177.849146
DKK 6.697404
DOP 60.537937
DZD 135.196931
EGP 55.738436
ERN 15
ETB 161.241358
EUR 0.892404
FJD 2.243704
FKP 0.746726
GBP 0.746436
GEL 2.603861
GGP 0.746726
GHS 11.635666
GIP 0.746726
GMD 74.000355
GNF 8839.823364
GTQ 7.635488
GYD 209.349213
HKD 7.84585
HNL 26.845087
HRK 6.76901
HTG 130.853294
HUF 327.940388
IDR 18127.15
ILS 3.14456
IMP 0.746726
INR 94.912504
IQD 1514.072885
IRR 1868415.000352
ISK 121.830386
JEP 0.746726
JMD 158.713591
JOD 0.70904
JPY 157.562504
KES 129.791695
KGS 87.448704
KHR 4075.114858
KMF 441.00035
KPW 899.999961
KRW 1333.420383
KWD 0.31117
KYD 0.83233
KZT 452.856952
LAK 22487.176056
LBP 89438.155136
LKR 332.209287
LRD 169.784558
LSL 16.644543
LTL 2.95274
LVL 0.60489
LYD 6.420447
MAD 9.82042
MDL 17.877693
MGA 4517.596681
MKD 54.931085
MMK 2099.629361
MNT 3599.514763
MOP 8.070654
MRU 40.499576
MUR 47.280378
MVR 15.450378
MWK 1731.477764
MXN 18.78615
MYR 4.058204
MZN 63.910377
NAD 16.644543
NGN 1346.470377
NIO 36.754539
NOK 9.208504
NPR 151.652616
NZD 1.772422
OMR 0.382702
PAB 0.998885
PEN 3.456889
PGK 4.545252
PHP 63.764504
PKR 276.304474
PLN 3.94725
PYG 5851.286855
QAR 3.64084
RON 4.782204
RSD 104.839645
RUB 80.300995
RWF 1474.374415
SAR 3.7544
SBD 8.058206
SCR 14.652482
SDG 601.503676
SEK 9.826204
SGD 1.278804
SHP 0.748335
SLE 22.903667
SLL 20969.504398
SOS 570.765868
SRD 37.619504
STD 20697.981008
STN 21.856461
SVC 8.739016
SYP 13001.999685
SZL 16.639458
THB 33.723038
TJS 9.193541
TMT 3.5
TND 2.986752
TOP 2.40776
TRY 49.933804
TTD 6.771935
TWD 32.621404
TZS 2646.683617
UAH 45.299969
UGX 4244.613944
UYU 40.153441
UZS 11979.124849
VES 887.479804
VND 25803.5
VUV 118.626367
WST 2.776217
XAF 585.378718
XAG 0.020359
XAU 0.000258029557
XCD 2.70255
XCG 1.799991
XDR 0.707052
XOF 585.378718
XPF 106.3919
YER 236.203589
ZAR 16.719695
ZMK 9001.203584
ZMW 20.14006
ZWL 321.999592
SSP 5745.217636
MXV 2.117302
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Crisis-hit Sri Lanka appoints new PM to replace president's brother
Crisis-hit Sri Lanka appoints new PM to replace president's brother / Photo: © AFP/File

Crisis-hit Sri Lanka appoints new PM to replace president's brother

Sri Lanka's president swore in a new prime minister Thursday to replace his brother, who was banned from leaving the country after his supporters launched violent attacks on a protest against the nation's dire economic crisis.

Text size:

The new premier, Ranil Wickremesinghe, has already served in the office five times -- but it remains unclear if he will be able to get any legislation through parliament.

The 73-year-old will be tasked with navigating Sri Lanka through its worst downturn in its history as an independent nation, with months of shortages and blackouts inflaming public anger.

"A cabinet is likely to be appointed tomorrow," Sudewa Hettiarachchi, a spokesman for President Gotabaya Rajapaksa, told AFP.

In a televised address to the nation on Wednesday night, Rajapaksa stopped short of yielding to weeks of countrywide protests calling for him to resign.

But in a bid to win over opposition lawmakers demanding he quit, Rajapaksa, 72, pledged to give up most of his executive powers and set up a new cabinet this week.

"I will name a prime minister who will command a majority in parliament and the confidence of the people," he said.

Mahinda Rajapaksa, the president's brother, resigned as prime minister on Monday after his supporters attacked anti-government demonstrators who had been protesting peacefully for weeks.

This marked a turning point and unleashed several days of chaos and violence in which at least nine people were killed and over 200 injured, with dozens of Rajapaksa loyalist homes set on fire.

Mahinda has since fled the capital Colombo and taken refuge at the Trincomalee naval base on the country's east coast.

On Thursday, a court banned him, his politician son Namal, and more than a dozen allies from leaving the country after ordering an investigation into the violence.

Security forces patrolling in armoured personnel carriers with orders to shoot looters on sight have largely restored order.

A curfew was lifted Thursday morning -- only to be reimposed after a six-hour break allowing Sri Lanka's 22 million people to stock up on essentials.

- 'Collapse beyond redemption' -

Sri Lankans have suffered months of severe shortages of food, fuel and medicines -- as well as long power cuts -- after the country burnt through foreign currency reserves needed to pay for vital imports.

The central bank chief warned Wednesday that the economy would "collapse beyond redemption" unless a new government was urgently appointed.

Wickremesinghe, 73, is seen as a pro-West free-market reformist, potentially making bailout negotiations with the International Monetary Fund and others smoother.

With many from Rajapaksa's party having defected in recent months, no group in the 225-member assembly has an absolute majority, making parliamentary approval of the unity government's legislation potentially tricky.

It also remains to be seen whether a new cabinet will be enough to calm public anger if Rajapaksa continues to resist calls for his resignation.

"What he has done is despicable, he has brought all of us to this state of hunger and poverty," Abu Nawaz, a small business owner in Colombo, told AFP.

"What is the point of keeping him as the president?" he added. "Will this end our miseries?"

Wickremesinghe had already been working closely with Rajapaksa before his appointment, to shake up the finance ministry and the central bank with sweeping policy changes, an official close to their discussions told AFP.

- 'We can't wait any longer' -

The central bank almost doubled key interest rates and announced a default on Sri Lanka's $51-billion external debt as part of the policy shift, officials said.

The main opposition SJB party was initially invited to lead a new government, but its leader Sajith Premadasa insisted the president first step down.

In recent days the party has split, with a dozen SJB lawmakers pledging support to Wickremesinghe.

"We can't be imposing conditions that cannot be fully met. First, we must address the economic crisis," said the party's Harin Fernando.

"We need at least $85 million a week to finance essential imports. We must collectively find a way to raise this money urgently," he added.

Fernando said he expected a new ministry to be formed by Friday. "We can't wait any longer," he added.

W.Tam--ThChM