Sri Lanka Economic Crisis: Military warns of tough action against protesters

Earlier in the morning, President Gotabaya Rajapaksa said that he will not resign but is ready to hand over the government to whichever party holds 113 seats in Parliament. At least 41 lawmakers walked out of the ruling coalition, leaving the government of Rajapaksa in a minority in parliament. Meanwhile, protests across the country have intensified. Stay tuned for more updates.

Sri Lanka military warns of tough action against violent protesters

Amid mounting protests and vandalisation of properties of politicians,SriLanka's military on Tuesday warned the protesters of severe action if they resort to violence.

SriLanka's Defence Secretary, General (Retd) Kamal Gunaratne, who said the military is strictly monitoring the protests, urged the public to refrain from violence.

Police stand guard as demonstrators protest against the surge in prices and shortage of fuel and other essential commodities near the parliament building in Colombo

Credit: AFP Photo

Sri Lanka to close embassies in Norway, Iraq, Australia: Report

Sri Lanka's Ministry of Foreign Affairs announced that it was closing embassies in Norway, Iraq and Australia, NDTV reported.

Sri Lanka Parliament adjourned till tomorrow 10 am

"Even if President Gotabaya leaves there is no solution to the problem," saidFormer Minister Namal Rajapaksa in the Parliament

Treasury Secretary S R Atygalle has sent in his resignation letter to President Gotabaya Rajapaksa, Daily Mirror reported.

Protests intensify across Sri Lanka over worsening economic crisis

Police prepare to patrol the streets to contain protests over a worsening economic crisis in Colombo, Sri Lanka.Defence Secretary Kamal Gunaratna on Tuesday said that the security forces will act to maintain peace and also will not hesitate to enforce the law against those involved in violence.

(AFP Photos)

As protests across country intensify, Defence Secy says 'will enforce law against those involved in violence'

As protests across Sri Lanka have intensified, Defence Secretary Kamal Gunaratna on Tuesday said that the security forces will act to maintain peace and also will not hesitate to enforce the law against those involved in violence.

Gunaratna said peaceful protests taking place democratically may be accepted and addedthat they will act to ensure that no acts of violence take place.

At least 41 lawmakers quit ruling coalition as Sri Lanka crisis deepens

At least 41 Sri Lankan lawmakers walked out of the ruling coalition on Tuesday, leaving the government of President Gotabaya Rajapaksa in a minority in parliament as it struggles with the country's worst economic crisis in decades.

Rajapaksa dissolved his cabinet on Monday and sought to form a unity government as public unrest surged over the ruling family's handling of the debt-heavy economy that has led to shortages of food, fuel and prolonged power cuts.

Sending the administration into deeper trouble, Finance Minister Ali Sabry resigned a day after his appointment and ahead of crucial talks scheduled with the International Monetary Fund for a loan programme. (Reuters)

Catholic priests and sisters hold placards during a demonstration against the economic crisis in Colombo. (AFP Photo)

Parliament Deputy Speaker Ranjith Siyambalapitiya steps down, according to media reports.

Sri Lanka's ruling coalition loses parliamentary majority amid growing protests

Sri Lankan President Gotabaya Rajapaksa's ruling coalition lost its majority in parliament on Tuesday after at least 41 lawmakers walked out of the alliance amid growing unrest over an economic crisis, according to parliamentary proceedings.

"Our party is on the side of the people," said Maithripala Sirisena, leader of the Sri Lanka Freedom Party which withdrew its support for Rajapaksa's coalition.

The shift left Rajapaksa with a minority government, which could make decision making more challenging, although independent lawmakers can still continue to support government proposals. (Reuters)

Newly appointed FM Ali Sabry resigns

Medical authorities declare health emergency in Sri Lanka

Medical authorities in Sri Lanka have declared a health emergency in the country as per media reports.

The IMF report on Sri Lanka tabled in Parliament by Finance Minister Ali Sabri (Daily Mirror)

CWC withdraws support to Govt; several MPs 'formally' inform Parliament to go independent

Ceylon Workers' Congress (CWC) has withdrawnsupport for the government, while several other MPs have 'formally' informed Parliament to go independent, Daily Mirror reported.

Sri Lankan President says won't resign, ready to hand over government to whoever proves 113 seat majority

Amid the ongoing political upheaval in Sri Lanka triggered by the massive economic crisis, President Gotabaya Rajapaksa has said that he will not resign but is ready to hand over the government to whichever party holds 113 seats in Parliament.

On Monday, Rajapaksa held back-to-back political meetings amidst public protests throughout the nation, calling on the President and government to resign, reports the Daily Mirror newspaper.

Voting will take place when Parliament convenes on Tuesday to see which party holds 113 seats or above.

The President's Sri Lanka Podujana Peramuna (SLPP) SLPP is now trying to hold on to its 113 seats so that it can continue in the government even with a simple majority, while Mahinda Rajapaksa remains the Prime Minister. (IANS)

Sri Lanka parliament reconvenes after state of emergency

Sri Lanka's parliament will convene Tuesday in its first session since a state of emergency was imposed as the country grapples with protests and mounting demands for the president's resignation over a worsening economic crisis.

Severe shortages of food, fuel and other essentials -- along with record inflation and crippling power cuts -- have inflicted widespread misery across the island nation, which is enduring its most painful downturn since independence from Britain in 1948. (AFP)

IMF says monitoring political and economic developments in Sri Lanka 'very closely'

The International Monetary Fund (IMF) said on Tuesday that it is monitoring political and economic developments in Sri Lanka "very closely" as public unrest in the island nation grows amid its worst economic crisis in decades.

President Gotabaya Rajapaksa on Monday dissolved the cabinet and appointed a new finance minister, while also seeking a new central bank governor.

"IMF staff is looking forward to program discussions with the authorities, including during the visit of the newly appointed Finance Minister to Washington later this month," IMF Sri Lanka mission chief Masahiro Nozaki told Reuters in an emailed statement. (Reuters)

Parliament sittings will commence today (April 5) at 10:00 am

Fall of the Rajapaksas: From war heroes to villains of Lanka's economy

The Rajapaksas have lost the trust of the people in less than three years after Sri Lankans handed over an overwhelming victory to Gotabaya

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Sri Lanka opposition rejects unity govt offer, demands president's resignation

President Gotabaya Rajapaksa's overture came as armed troops looked to quell more demonstrations over what the government acknowledges is the country's most severe economic crisis since independence from Britain in 1948.

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Sangakkara, Mahela raise their voice against regime

They sweated it out together in Sri Lankan colours on the 22 yards and the iconic duo of Mahela Jayawardene and Kumar Sangakkara again joined forces to launch a scathing attack on the country's political establishment as it battles one of its worst financial crisis.

Sri Lanka is currently in the midst of a deep financial and political crisis with people getting on the streets to protest against skyrocketing prices of essentials like food, fuel and medicine, even as the country's current foreign reserve plummeted to $2.1 billion.