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HomeTop HeadlinesUnprecedented economic and political crisis mark 2022 in Sri Lanka; India's assistance...

Unprecedented economic and political crisis mark 2022 in Sri Lanka; India’s assistance provides breather

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Colombo, Dec 30 (PTI) Sri Lanka was hit by an unprecedented financial crisis in 2022 that also sparked political turmoil in the island nation that led to the ouster of the all-powerful Rajapaksa family for now.

The resignations by President Gotabaya Rajapaksa in July and his elder brother Prime Minister Mahinda Rajapaksa in May amidst massive anti-government protests subsided with the formation of a government led by their ally Ranil Wickremesinghe, who is now tasked with stabilising the economy and restoring the financial health of the economy, already hit badly by the pandemic.

From April to July, chaos reigned on the island nation with miles-long queues forming at fuel stations and irate residents coming out in thousands blocking roads with empty cooking gas cylinders. Over 20 people died in the serpentine fuel queues due to exhaustion in long lines and in certain cases the waiting period extending over 72 hours.

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