Colombo, First Published May 25, 2022, 2:25 PM IST
Prime Minister Ranil Wickremesinghe today formally assumed charge as the Minister of Finance of the Government of Sri Lanka, which is suffering from a severe financial crisis and economic crisis.
The Wickremesinghe-led team will look into all loans made to the International Monetary Fund on behalf of the Government of Sri Lanka and all financial assistance requested from the World Bank.
6th time
Ranil Wickremesinghe has been the Prime Minister of Sri Lanka 5 times before. Mikanda Rajapakse resigned as prime minister after failing to deal with the civil unrest in Sri Lanka, the state’s deteriorating economic situation, the bankruptcy situation, the people’s struggle and the severe economic crisis.
Following this, President Gotabhaya Rajapaksa appointed Ranil Wickremesinghe as the new Prime Minister of Sri Lanka. Although Wickremesinghe formed a new cabinet after taking office as Prime Minister, he did not find the right and strong person to hold the post of Finance Minister.
The Minister of Finance is responsible
In this context, Ranil Wickremesinghe has accepted the responsibility of the Minister of Finance himself to cope with the current financial crisis in Sri Lanka, the economic crisis, the people’s struggle, the shortage of foreign exchange reserves and to coordinate the request for financial assistance from abroad.
A statement from the Chancellor’s Office said, “Prime Minister Wickremesinghe was today sworn in as Sri Lanka’s Minister of Finance, Economic Sustainability and National Policy in the presence of President Gotabhaya Rajapaksa.”
In an interview to a channel, Prime Minister Ranil Wickremesinghe said, “The interim budget will be tabled in Sri Lanka in six weeks. Infrastructure projects will be abandoned and the proceeds will be used for the relief of the people for the next two years. ”
Sri Lanka is facing its worst economic crisis since 1948. As prices have skyrocketed, people have taken to the streets and are fighting against the government.
The Sri Lankan government has been unable to repay foreign loans due to declining foreign exchange reserves and is unable to import any goods from abroad.
The people have been fighting against the ruling President Gotabhaya Rajapaksa and Prime Minister Rajapaksa in Sri Lanka since last March. In this, Mahinda Rajapaksa has resigned from the post of Prime Minister without overcoming the crisis of the people’s struggle.
Last Updated May 25, 2022, 2:25 PM IST