|
President Gotabaya Rajapaksa's government said it will begin
talks next month with the International Monetary Fund (IMF) for
assistance, while Finance Minister Basil Rajapaksa flew into New
Delhi to sign a $1-billion credit line to tackle the situation.
"Even after working about 14 to 16 hours a day, we still can't
make enough money to support our families," said rickshaw driver
Nissanka Gunewardena, one of those who marched on a tree-lined
boulevard in central Colombo.
"How can anyone live like this?" added Gunewardena, 34, who has
two young children and wore a black headband that read "Gota Go
Home", referring to the president.
Historically weak government finances, badly timed tax cuts and
the COVID-19 pandemic, which hit the lucrative tourism industry
and foreign remittances, have wreaked havoc on the economy,
leading to a currency devaluation last week.
Sri Lanka's foreign exchange reserves have fallen 70% in the
last two years to about $2.31 billion, leaving the Indian Ocean
island nation struggling to pay for essential imports, including
food and fuel.
Last week's devaluation stoked further inflation, inflicting
more distress on Sri Lankans battling rolling power cuts and
fuel shortages.
"We have told the government time and again to change their
policies," said Eran Wickramaratne, a leader of the opposition
alliance, Samagi Jana Balawegaya.
The government, led by the Rajapaksa brothers, another of whom
is Prime Minister Mahinda Rajapaksa, has pushed Sri Lanka's 22
million people deep into hardship, he added.
"This is the only country in the world where the president and
the finance minister have no idea about economic management."
IMF TALKS
After months of resistance to seeking IMF help, Rajapaksa's
government said on Tuesday it would begin talks with the
multilateral lender next month after cabinet authorised the
finance minister to draw up proposals.
Cabinet spokesman Ramesh Pathirana said the government would
firm up plans on IMF assistance in the next few weeks as the
finance minister prepares to visit Washington D.C. in mid-April
for the discussions.
In New Delhi this week, the finance minister will sign the
$1-billion credit line previously agreed with India to bring in
key imports of medicine, food and fuel. He will also meet
India's finance and energy ministers.
"Now we are all very disappointed," said Gunewardena, the
protester, adding that he had voted for Rajapaksa in the last
presidential election in 2019.
"We think this government should go. We want change."
(Reporting Uditha Jayasinghe, Writing by Devjyot Ghoshal;
Editing by Jacqueline Wong and Clarence Fernandez)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
