Sri Lankan crisis: Spiralling protests and astronomical price rise

Chennai: Sri Lanka has been warped in the economic crisis and the subsequent public outcry of the government. People have been occupying the streets across Sri Lanka carrying the country's national flag.

With the island nation reeling already under devalued currency and spendthrift import policies, people started to feel the pinch when they were unable to get their supplies, for its dearth or/and its skyrocketing cost. Popular Sri Lankan personalities, including former cricketers such as Mahela Jayawardene, Kumar Sangakkara and Roshan Mahanama condemned the government and supported their compatriots in this lean phase. Mahanama called Sri Lankan administrators "power hungry".

Despite India and China have been helping Sri Lanka to storm the crisis, the nation on India's southern tip is far from an optimistic turnaround. Things are bleak in the capital city Colombo as the prices of fruits & vegetables are rising in Sri Lanka amid economic & political crisis.

A fruit vendor, Farukh says, "3-4 months back apple was sold at Rs 500/kg, now it's Rs 1000/kg. Pear was sold at Rs 700/kg earlier, now it is sold at Rs 1500/kg. People don't have money".

The economic crisis became political discontent when the government run by the Rajapaksas reeked of mismanagement. Stuck to his seat, Gotabaya Rajapaksa tried firefighting calling for a "unity government" after Ministers decided to go independent, and the reappointing Minister for Finance; both the moves came a cropper.

Primary opposition party United People's Force leader Sajith Premadasa said the "interim government is nothing but internal politics". Tamil People's Alliance and Sri Lankan Muslim Congress too were on the same page with other opposition forces in its condemnation of the ruling Sri Lanka Podujana Perumuna (SLPP). Gotabaya tried to mollify the dissenting voices by replacing brother Basil Rajapaksa from Finance Ministry with Ali Sabry. The latter stepped down in just one day since his appointment.

Troubles multiplied for the SLPP as it lost majority on Tuesday in the parliament with 42 MPs choosing to sit independently. Among the 42 MPs, 14 are from Sri Lanka Freedom Party, 10 belong to constituent parties of the government, and 12 are SLPP MPs, among others.

Sri Lanka's economy crippled following the Covid19 pandemic leaving tourism, the island nation's cash cow, in disarray. Subsequently, Sri Lanka's foreign reserves depleted and the country had to leash its imports which in turn resulted in a supply-deficit leading to inflation, therby truncating its countrymen's purchasing power.

With the country's restiveness showing no signs of abatement, IMF alone could rescue Sri Lanka from its financial trap. The IMF's Sri Lanka mission chief Masahiro Nozaki told Reuters that the organisation is "closely watching" developments in the country. "IMF staff is looking forward to program discussions with the authorities, including during the visit of the newly appointed Finance Minister to Washington later this month," he added.

(Inputs from ANI, IANS and Reuters)