• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, August 20, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Asia

Sri Lanka’s PM Resigns Amid Economic Crisis

Maynard Championby Maynard Champion
May 9, 2022
Reading Time: 3 mins read
Add as Preferred on Google
Sri Lanka's Prime Minister, Mahinda Rajapaksa

Sri Lanka's Prime Minister, Mahinda Rajapaksa

Sri Lanka’s Prime Minister, Rajapaksa has resigned from his position amid mass protests at the government’s handling of a deepening economic crisis.

Mr. Rajapaksa, 76, sent his resignation letter to his younger brother, President Gotabaya Rajapaksa, saying he hoped it would help resolve the crisis, but the move is highly unlikely to satisfy government opponents while the latter remains in power.

The move came as the island was placed under curfew over violent clashes between Rajapaksa supporters and anti-government protesters in Colombo (Sri Lanka’s capital). As a result, three people were killed, including a ruling party’s Member of Parliament, and more than 150 are injured in violence in the capital.

There have been protests over soaring prices and power cuts since last month (April 2022). The island nation is facing its worst economic crisis since gaining independence from Britain in 1948.

ADVERTISEMENT
Sri Lanka 1
A group of angry protesters attacking another man

Earlier in the day, the country’s Police were deployed following violence outside the President and Prime Minister’s offices in Colombo. As though that was not enough, the Police also fired tear gas and water cannon at hundreds of ruling party supporters after they breached the Police lines and attacked anti-government protesters using sticks and poles. After pulling down tents of protesters outside the PM’s Temple Trees residence, they then stormed the nearby “Gota go home” camp on the promenade. According to one witness’s account, “We were hit, the media were hit, women and children were hit”.

Protesters’ Retaliation over High Cost of Living

Just outside the capital, the Police said a Member of Parliament from the governing party was found dead after he opened fire on protesters blocking his car. Two others also died, officials disclosed. According to reports, later in the day, several properties of the ruling party MPs and local government officials were attacked, with some set on fire.

Protesters 1
A overview of some agitated protesters

Following the eruption of demonstrations in early April, protesters camped noisily but peacefully outside President Rajapaksa’s office at Galle Face Green, demanding that the President should quit his job. The reason fueling protesters’ call is blamed on the high cost of living which reports disclosed that it became unaffordable. Sri Lanka’s foreign currency reserves have virtually run dry, and it can no longer afford essential items including food, medicines and fuel.

A Blame on COVID-19

The government has requested emergency financial help. It blamed the country’s economic crisis on the Coronavirus pandemic, which to an extent, is reported to have killed off Sri Lanka’s tourist trade (one of the country’s biggest foreign currency earners). However, many experts intimated that the economic mismanagement is to be blamed.

The Prime Minister in his letter noted that his resignation is intended to clear the way for an “all-party government to guide the country out of the current economic crisis”. But opposition parties have kicked against the “all-party” decision, and also called on the President to quit.

ADVERTISEMENT

READ ALSO: Agriculture, a Beacon of Hope for Africa- Mckinsey

ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: Economic CrisisSri Lanka
Please login to join discussion
Previous Post

We’ll Not Continue To Be Immune To Terrorist Attacks- Security Analyst

Next Post

Free SHS Should Be Repositioned To Focus On Students From Public JHS- Eduwatch

Related Posts

download 2
Asia

USS George Washington Arrives In Middle East

August 20, 2026
c6bbb5f620d992e44e1b8d656a7f48ad
Asia

Bangladesh Holds First Contested Presidential Vote In 35 Years

August 20, 2026
Israeli Attacks on Iran persist For Third Day
Asia

Iran Dismisses Trump’s New Sanctions Threat

August 20, 2026
Kim Yo Jong, sister of North Korea's leader Kim Jong Un.
Asia

North Korea Dismisses US-South Korea Drill Cutbacks

August 19, 2026
ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

ADVERTISEMENT

Recent News

CMC Launches 24 Hour Framework e1787247881844

CMC’s New 24-Hour Framework Targets Faster Cocoa Export Turnaround

August 20, 2026
shutterstock 2486799965 scaled e1740370844946

US Approves Qatar Aircraft Sale

August 20, 2026
Registrar of the Medical and Dental Council, Ghana, Dr. Divine Banyubala

Mahama to Open AMCOA Conference as Africa Pursues Safer Healthcare

August 20, 2026
download 2

USS George Washington Arrives In Middle East

August 20, 2026
BoG Urges Banks to Turn Credit Into Growth

Banks Could Offer 10-Year Loans Through GSE Listings- BoG

August 20, 2026
ADVERTISEMENT
Next Post
Africa Education Watch (Eduwatch) has expressed its resolve to file complaint of financial loss at the Office of the Special Prosecutor.

Free SHS Should Be Repositioned To Focus On Students From Public JHS- Eduwatch

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.