Asian nation’s govt quits amid economic crisis — Analysis

Sri Lanka’s government has resigned following protests over the nation’s worst economic crisis in decades

Following the resignation of Sri Lanka’s Central Bank Governor on Monday, the president dropped his brother as finance minister in an attempt to reshape the country’s government, amid massive protests over a deteriorating economic crisis.

President Gotabaya Rajapaksa urged unity in government. “The president invites all political parties in parliament to accept cabinet posts and join the effort to seek solutions to the national crisis. Considering this a national need, the time has come to work together for the sake of all the citizens and future generations,” his office said in a statement.

Sri Lanka’s stock market closed nearly immediately after it opened on Monday, having fallen almost 6%

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Earlier, all previous 26 cabinet ministers, including the president’s own nephew, had resigned, forcing the Sri Lankan leader and his older brother Mahinda Rajapaksa, serving as the Prime Minister, to start forming a new government.

The cabinet’s resignation comes as anti-government protests are sweeping around the country.

On Friday, Rajapaksa’s government tried to curb demonstrations by introducing a state of emergency and imposing a full social-media blackout, banning Twitter, Facebook, WhatsApp, YouTube, and Instagram. A 36-hour curfew was then imposed, restricting the 22 million-strong island nation.

Sri Lankans are fuming over the worst shortages of essentials since the country’s independence from Great Britain in 1948. Many people have difficulty stocking up on fuel and food.

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