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

EUR -
AED 4.048391
AFN 71.653298
ALL 90.75031
AMD 397.442438
ANG 1.973657
AOA 1011.961176
ARS 1704.383624
AUD 1.623037
AWG 1.984237
AZN 1.856101
BAM 1.951037
BBD 2.220878
BDT 137.48047
BGN 1.954992
BHD 0.417001
BIF 3319.211342
BMD 1.102354
BND 1.423305
BOB 12.873396
BRL 6.246263
BSD 1.102608
BTN 104.113356
BWP 15.450053
BYN 3.311511
BYR 21606.133827
BZD 2.223108
CAD 1.571157
CDF 2551.948763
CHF 0.923203
CLF 0.028076
CLP 1104.973776
CNY 7.354629
CNH 7.355428
COP 3659.781435
CRC 495.301692
CUC 1.102354
CUP 26.528091
CVE 110.400862
CZK 24.405338
DJF 196.830673
DKK 7.476492
DOP 67.24023
DZD 151.259517
EGP 58.978202
ERN 16.535307
ETB 181.42142
FJD 2.507138
FKP 0.83436
GBP 0.833065
GEL 2.855395
GGP 0.83436
GHS 12.925107
GIP 0.83436
GMD 81.574323
GNF 9793.033462
GTQ 8.429306
GYD 230.683681
HKD 8.648739
HNL 29.723102
HRK 7.531242
HTG 144.950495
HUF 364.886804
IDR 20101.861877
ILS 3.545941
IMP 0.83436
INR 103.891879
IQD 1675.705726
IRR 2109615.737539
ISK 136.614616
JEP 0.83436
JMD 174.650597
JOD 0.781559
JPY 176.084434
KES 143.361332
KGS 96.384849
KHR 4497.603336
KMF 492.752448
KPW 992.118776
KRW 1472.176938
KWD 0.34335
KYD 0.921103
KZT 492.691684
LAK 24881.085017
LBP 98983.338221
LKR 367.641256
LRD 187.910642
LSL 18.686464
LTL 3.254964
LVL 0.666803
LYD 7.125024
MAD 10.953937
MDL 20.078069
MGA 5022.01716
MKD 61.54521
MMK 2315.245513
MNT 3974.716094
MOP 8.933131
MRU 44.703153
MUR 52.493964
MVR 16.998872
MWK 1916.706549
MXN 20.443137
MYR 4.504325
MZN 70.438049
NAD 18.686464
NGN 1481.089143
NIO 40.680139
NOK 11.20832
NPR 166.581569
NZD 1.994348
OMR 0.424511
PAB 1.102608
PEN 3.761013
PGK 5.044017
PHP 70.506587
PKR 305.654544
PLN 4.404526
PYG 6843.293114
QAR 4.017253
RON 5.348508
RSD 117.465767
RUB 91.306912
RWF 1635.305588
SAR 4.217285
SBD 8.926527
SCR 15.295052
SDG 663.067957
SEK 11.094899
SGD 1.419062
SHP 0.830054
SLE 25.408839
SLL 23115.81135
SOS 631.702158
SRD 41.327132
STD 22816.497327
STN 24.500084
SVC 9.672033
SYP 14332.804046
SZL 18.681064
THB 37.34223
TJS 10.196735
TMT 3.858238
TND 3.316427
TOP 2.654204
TRY 55.485652
TTD 7.503026
TWD 36.257957
TZS 2926.910001
UAH 50.255172
UGX 4553.882371
USD 1.102354
UYU 44.690894
UZS 13292.045418
VES 1006.31588
VND 28358.601825
VUV 132.635307
WST 3.09826
XAF 655.957
XAG 0.022553
XAU 0.000284217645
XCD 2.979166
XCG 1.992107
XDR 0.779421
XOF 655.957
XPF 119.331742
YER 260.761859
ZAR 18.51405
ZMK 9922.506973
ZMW 22.599077
ZWL 354.957463
SSP 6553.913348
MXV 2.295791
  • RYCEF

    0.1000

    19.81

    +0.5%

  • VOD

    -0.2500

    16.33

    -1.53%

  • CMSC

    -0.2800

    20.12

    -1.39%

  • RBGPF

    -2.0000

    65

    -3.08%

  • RIO

    -0.2500

    94.16

    -0.27%

  • BTI

    -1.2000

    54.85

    -2.19%

  • NGG

    -0.3000

    74.94

    -0.4%

  • GSK

    -0.3500

    49.35

    -0.71%

  • BCE

    -0.4200

    20.14

    -2.09%

  • CMSD

    -0.3400

    19.93

    -1.71%

  • BP

    -0.9100

    43.52

    -2.09%

  • RELX

    0.1700

    33.24

    +0.51%

  • BCC

    -0.6200

    75.97

    -0.82%

  • AZN

    -1.9400

    164.21

    -1.18%

  • JRI

    0.0000

    10.77

    0%

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: Ishara S. KODIKARA - 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.

S.Suzuki--JT