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Sri Lankan President Gotabaya Rajapaksa resigned Thursday after feeling the country in the midst of the country’s economic crisis.
Sri Lankan Speaker Mahinda Yapa Abeyweardana announced on Friday. Parliament will be convened on Saturday to begin the process of electing a new president. The country hopes to have a new president within the next seven days.
Rajapaksa fled Sri Lanka on Wednesday after protesters flocked to his home and other government agencies. Protesters have accused Rajapaksa of stealing money from the government for years. They also accuse his administration of mismanagement of the economy and disrupting it. Rajapaksa admits that some of his policies contributed to the meltdown.
Months of protests peaked enthusiastically over the weekend when demonstrators attacked the president’s home and office, as well as Prime Minister Ranil Wickremesinghe’s official residence. On Wednesday, they confiscated Wickremesinghe’s office.
Sri Lanka’s fleeing country, protester Storm’s official residence as a state of emergency
Demonstrators initially vowed to retain these locations until the new government was inaugurated, but on Thursday the movement changed tactics after a clash outside parliament the night before leaving dozens of injured. There was a clear concern that escalation of violence could undermine their message.
Rajapaksa’s successor will serve as president for the rest of his term ending in 2024. New leaders may choose a new prime minister that Congress must approve.
Economic protests are raging around the world as a challenge from inflation, the Ukrainian war and the coronavirus infection
Approximately 22 million countries are in a difficult situation Forex shortage, Essential imports of fuels, food and medicine are limited. The shortage has driven the island into the worst financial situation in 70 years.
Sri Lanka has not received fuel shipments in recent weeks and has been forced to close schools, limiting gasoline and diesel for critical services. Residents are running out of food for hours in line due to lack of fuel.
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And the country’s inflation level is skyrocketing.Sri Lanka Inflation reached 54.6% in June.
The Associated Press contributed to this report.