Sri Lanka Economic Crisis: PM Wickremesinghe says country needs USD 75 million in next few days

Sri Lanka's new prime minister addressed the crisis-hit nation on Monday, saying that his aim is to serve the country, and not a person, family or group.

By Subhasish Dutta
Mon, 16 May 2022 07:22 PM IST
Minute Read
Sri Lanka Economic Crisis: PM Wickremesinghe says country needs USD 75 million in next few days
Reuters Image

Colombo | Jagran World Desk: Sri Lanka's new Prime Minister Ranil Wickremesinghe on Monday said that the crisis-hit country needs to secure USD 75 million in foreign exchange in the next few days to pay for essential imports, including fuel and medicine. "The next couple of months will be the most difficult ones of our lives. We must prepare ourselves to make some sacrifices and face the challenges of this period," Ranil Wickremesinghe said in an address to the nation.

Wickremesinghe added that the island nation's economy is in a dangerous situation and the country needs to make urgent payments for medicine. He said that there is a shortage of 14 essential drugs.

In his first televised address to the nation after becoming the prime minister last week, he said that his aim is to save the crisis-hit country, and not a person, family or group, in an apparent reference to the Rajapaksa family and its former strongman Mahinda Rajapaksa.

The 73-year-old United National Party (UNP) leader also said that US dollars will be sourced from open markets to pay for petrol, crude, furnace oil shipments currently in Sri Lankan waters.

Wickremesinghe was appointed as Sri Lanka's 26th prime minister on Thursday as the country was without a government since Monday when prime minister Mahinda Rajapaksa resigned after violence erupted following an attack on the anti-government protesters by his supporters.

"My aim is to save the country," Prime Minister Wickremesinghe said. "I am not here to save a person, family or group."

He said a relief budget will be introduced to replace the 2022 Development Budget.

Prime Minister Wickremesinghe said he would propose to privatise SriLankan Airlines, which is making massive losses at present.

SriLankan Airlines suffered a loss of Rs. 45 billion in 2021 alone. By March 31st, 2022, the total loss was Rs. 372 billion, local media reported.

"Even if we privatise SriLankan Airlines, we will have to incur the losses. These losses have to be borne also by the innocent people who have never stepped inside a plane," said the Prime Minister.

Sri Lanka is going through the worst economic crisis since independence in 1948. A crippling shortage of foreign reserves has led to long queues for fuel, cooking gas and other essentials while power cuts and soaring food prices heaped misery on the people.

The economic crisis also triggered a political crisis in Sri Lanka and a demand for the resignation of the powerful Rajapaksas.

President Gotabaya Rajapaksa, who has refused to quit, appointed a new Prime Minister and a young Cabinet last week which would introduce key constitutional reforms to curb his powers, amid protests over the nation's worst economic crisis that ousted his elder brother Mahinda Rajapaksa who is under protection at a naval base following violent attacks on his aides.

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy.