Sri Lankan President to resign amid economic crisis
CGTN, 13 Jul 2022
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The Sri Lankan Prime Minister has admitted that the island nation's economy has collapsed. The debt-ridden nation has run out of money to pay for food and fuel. Meanwhile the price of essentials like wheat and cooking oil has tripled. Protesters stormed the President's house on Saturday and President Gotabaya Rajapaksa has agreed to resign on Wednesday, despite his administration being in the middle of negotiating a bailout from the IMF. Faced with political turmoil and record high inflation, what lies ahead for this island nation?
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https://www.cgtn.com/video
The Sri Lankan Prime Minister has admitted that the island nation's economy has collapsed. The debt-ridden nation has run out of money to pay for food and fuel. Meanwhile the price of essentials like wheat and cooking oil has tripled. Protesters stormed the President's house on Saturday and President Gotabaya Rajapaksa has agreed to resign on Wednesday, despite his administration being in the middle of negotiating a bailout from the IMF. Faced with political turmoil and record high inflation, what lies ahead for this island nation?
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