Sri Lanka: Thousands of protestors descended on Colombo, Sri Lanka, on Saturday demanding President Gotabaya Rajapaksa’s resignation after months of protests. The president has been blamed for the country’s economic mismanagement.
Prime Minister Ranil Wickremesinghe also said he would step down following Saturday’s protests, in which his private residence in an elite Colombo neighbourhood was set on fire. Speaker Mahinda Yapa Abeywardena said on Saturday that Rajapaksa’s decision to step down was taken “to ensure a peaceful handover of power”.
But protesters remain sceptical about the leaders’ intentions. He said he would step down to allow an all-party interim government to take over, with Rajapaksa scheduled to quit on July 13, according to the speaker of parliament.
This political instability further complicates efforts to better the economic crisis in Sri Lanka—the worst in seven decades—triggered by a severe shortage of foreign currency that has stalled the imports of essentials like fuel, food, and medicines.
The International Monetary Fund (IMF), which has been in talks with the Sri Lankan government for a possible $3 billion bailout, said on Sunday it was monitoring events closely.
“We hope for a resolution of the current situation that will allow for the resumption of our dialogue on an IMF-supported programme,” the global lender said in a statement.
Hopeless and frustrated by the economic crisis, a huge crowd surged into the presidential palace on Saturday, some taking the opportunity to frolic in its swimming pool. Around 45 people were taken to the hospital on Saturday, but there were no reported deaths.
The next day, common Sri Lankans walked around the colonial-era building, guarded by security with assault rifles, but they did nothing to stop the crowds from swarming in. Nearby, a handwritten poster read: “Watch as much as you want. Don’t destroy or loot.” A smashed vase lay next to it.
People were amazed at the level of luxury these leaders were living in, while the people they were supposed to protect were hit by the worst financial crisis in the country in over seventy years.
Among those wandering the palace was 61-year-old handkerchief seller B.M. Chandrawath.
“I’ve never seen a place like this in my life,” Chandrawathi said as she tried out a plush sofa.
“They enjoyed super luxury while we suffered,” she said. “We were hoodwinked. I wanted my kids and grandkids to see the luxurious lifestyles they were enjoying.”
The economic crisis snowballed after the COVID-19 pandemic hammered the tourism-reliant economy and slashed remittances from overseas workers, compounded by large and growing government debt, rising oil prices and a seven-month ban on importing chemical fertilisers last year that devastated agriculture.
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