Sri Lanka’s socio-political situation as on 9th June 2022 – By Dr Harold Gunatillake

Sri Lanka’s socio-political situation as on 9th June 2022 – By Dr Harold Gunatillake

Dr Harold Gunatillake

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Ranil and Karu reach a consensus. Prime Minister Ranil Wickremesinghe and former Speaker Karu Jayasuriya have
agreed to work together on forming new Parliament committees.
Jayasuriya told Daily Mirror the Prime Minister discussed with him, and they agreed to work together on the Parliament committees.

There had been reports and speculation earlier that the former Speaker would be brought into Parliament through the National List to be appointed as Prime Minister, to replace Mahinda Rajapaksa.

However, that speculation was dismissed with the appointment of Ranil Wickremesinghe as Prime Minister.

Sri Lanka NeedsSri Lanka needs approximately USD 500 million every month to finance consumption requirements and appears unable to present a coherent plan to sustain previous debt.

Difficult times ahead “The next couple of months will be the most difficult ones of our lives,” Ranil Wickremasinghe told the nation fed up with long lines, skyrocketing inflation, and daily protests.“We must prepare ourselves to make some sacrifices and face the challenges of this period.”

Why haven’t the youth representatives or any other group suggested a name for the future prime minister and left Gothabaya to decide?

No suggestions have been made by any parties, youth demonstrators, or the intelligentsia regarding any nominees to the premiership position.
Sajith Premadasa refused unless certain conditions were fulfilled, and one was that Gothabaya must resign.

The President had no other choice than to hand over the position to Ranil Wickremasinghe, which he accepted with the hope of saving the country from this present crisis.

The public going through all the hardships without food, fuel, diesel, or gas still brings out the past failures of Ranil Wickremasinghe, even though there is no suitable candidate to take over the challenges and the responsibilities of the prime minister.

Inflation runs at 133% in March, six times more than the official rate by the government.

Airlines have been asked to stop refuelling to save fuel
“The next three weeks will be difficult” – Statement from Prime Minister
Prime Minister Ranil Wickremesinghe emphasises that the next three weeks will be a difficult time with fuel. Fuel and gas should be consumed as sparingly as possible in his speech in Parliament.

The Prime Minister is informing the public that travel should be limited as much as possible during this time. Therefore, the Prime Minister also urges the public to refrain from accumulating fuel and gas unnecessarily.

The prime minister said that efforts are being made to distribute fuel and food without any difficulties after three difficult weeks, and discussions are being held with various parties.

“We have to face these difficult three weeks with patience,” he said. The statement in Parliament is as follows as reported in the new wave. I hope you all understand the situation we and our country face. We need to find new
ways as an alternative to the traditional methods if we are to elevate the country from this position. We must set aside our conventional political ideologies for a short period and make a concerted effort to rebuild the country.

The people of the whole country should play a role in this effort. We all have a part to play for the country. Our primary focus here is on economic stability. But we cannot recover from this alone by creating financial stability. We need to revive the economy of our country.

This is not something that can be done in two or three days. This challenge cannot be done by miracles, not from slogans, not by magic, or by my emotions. Implementing intelligently thought-out projects requires hard work and dedication.

The country spends $500 million per month on fuel. It should be kept in mind that the current global crisis risks raising oil prices. Some estimate that global oil prices will rise by 40% by this year. In this context, introducing a coupon system for fuel cannot be ruled out. Somehow, we have to find $3,300 million worth of energy for the next six months.

It costs $40 million a month to import gas. We are currently using multilateral assistance, local currency and Indian loans to import gas. We will require $250 million over the next six months for gas.

Negotiations are underway with various parties to ensure this happens. After these difficult three weeks, we are trying to ensure the shortage of fuel and gas will have ended. Let’s face these difficult three weeks united and patiently. The Prime Minister made this statement while making a unique statement in Parliament today regarding the current situation in the country.

Sri Lanka PM urges ‘patience’ as UN set to make an appeal for funds The UN will make a worldwide public appeal for funds and has pledged $48m for food, agriculture and health, says Ranil Wickremesinghe.

Sri Lanka’s prime minister says the United Nations has arranged a worldwide public appeal to help the island nation’s food, agriculture and health sectors face serious shortages amid its worst economic crisis in recent memory.

In his speech to parliament on Tuesday, Prime Minister Ranil Wickremesinghe said the UN plans to provide $48m in assistance over a four-month period. But the projected funds barely scratch the surface of the $6bn the island nation needs to stay afloat over the next six months.

From DW German public broadcast service
“I can’t go as a failed president,” – Sri Lankan President Rajapaksa Vows to Finish Term,
Won’t Run for Re-Election.
This is a report produced by Bloomberg.
Sri Lankan President Gotabaya Rajapaksa vowed to finish the remaining two years of his term despite months-long street protests calling for his ouster but won’t stand for reelection as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis.

“I can’t go as a failed president,” Rajapaksa said Monday in a wide-ranging interview at his official residence in Colombo, his first with a foreign media organisation since the crisis unfolded. “I have been given a mandate for five years. I will not contest again.

The defiance comes in the face of slogans of “Gota Go Home,” with protesters blaming Rajapaksa and his family for decisions that led to severe shortages of everything from fuel to medicine, stoking inflation to 40% and forcing a historic debt default. Since mid-March, thousands of demonstrators have camped outside the president’s seaside office, forcing him to retreat to his barricaded official residence about a kilometre away. Aid from the IMF.

Gotabaya Rajapaksa and his new Prime Minister Ranil Wickremesinghe is now seeking about $4 billion in aid this year from the International Monetary Fund and countries including India and China. Sri Lanka’s rupee has lost about 82% over the past year, and the central bank on Monday flagged the possibility of a further correction. The nation’s debt is trading in the deep-distressed territory.

China wants to ease Sri Lanka’s debt crisis. Chinese Foreign Ministry spokesman Zhao Lijian has spoken to reporters about Sri Lanka’s debt crisis. This was stated at a media briefing held yesterday. Mr Zhio Lijian said that China understands the difficulties and challenges currently facing Sri Lanka and wants China to play a constructive role in Sri Lanka’s sustainable economic and social development. He also mentioned the loans given by France to Sri Lanka. He said that China would assist in resolving the issue in consultation with the relevant financial institutions and Sri Lanka.

China is also willing to work with relevant countries and international financial institutions to ease Sri Lanka’s debt burden. Mr Zhio Lijian said China hoped Sri Lanka would work to protect the legitimate rights and interests of foreign investment and financial partners and the stability and credibility of the country’s investment and economic environment, as reported in the news

Hope you liked the video presentation on the socio-political situation in Sri Lanka, today.

Stay safe and goodbye for now.


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