The authorities on Monday stopped trading on the Sri Lanka stock exchange after the stock market fell 5.9 percent, according to a report by AFP. This happened even when President Sri Lanka Gotabaya Rajapaksa was ready to appoint a new cabinet Monday as a security force that supported the possibility of violence with more protests is expected to lack food, fuel, and drugs, said AFP report.
Sri Prime Minister Sri Lanka resigned from the cabinet on Monday and several other members had offered to do so, a minister said, only a few days after President Gotabaya Rajapaksa said an emergency after economic protests, according to Reuters’ report.
Countries that are litarally debt struggling to pay fuel imports and other essences due to severe shortage of foreign currency, which leads to power cuts for hours and expanding demonstrations that continue despite weekend hours Traffic returns to the streets of Colombo the main city in the country on Monday, but there are reports of sporadic and peace protests from all over the country.
Minister of Youth and Sports Namal Rajapaksa, Gotabaya’s nephew and Prime Minister Mahinda Rajapaksa, said on Twitter on Monday, he had told the president’s secretary about his resignation with the direct effect The island of 22 million, also wrestling with inflation which surged after the steep government devalued its currency last month ahead of talks with international monetary funds for the loan program.
State expenditure has exceeded its income under consecutive government while production of goods and services that can be traded inadequate. The twin deficit was exposed by Pandemic Covid-19 which paralyzed its economic flagship, the tourism industry.