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image source, Archyde.com
The small island country of Sri Lanka, south of India, made headlines this weekend following a group of protesters stormed the presidential residence and set the prime minister’s house on fire to demand a change of government.
Images broadcast globally showed some of the protesters swimming in the presidential pool.
Although neither of the two officials was threatened as they were not in their residences at the time of the attacks, the situation ended in the resignation of President Gotabaya Rajapaksa.
image source, Getty Images
Swimming pool of the residential palace in Colombo, taken over by protesters.
The announcement was made by the parliament spokesman, Mahinda Abeywardana, who assured that the president had resigned to “ensure a peaceful transition of power.” At the same time, the leader of the legislature asked citizens to “respect the law and keep the peace.”
But why did this nation in the Indian Ocean, populated mostly by three different ethnic groups, reach such a point of instability?
At BBC Mundo we tell you.
What was it that happened?
image source, Getty Images
Thousands of protesters from different parts of the country gathered in the capital Colombo on Saturday. State agents confirmed to the AFP news agency that some had even “commanded” trains to reach the capital.
President Rajapaksa had left his official residence on Friday as a precaution as protests were announced in the city, defense ministry sources told Archyde.com.
The BBC has not been able to confirm where the president is currently.
The demonstrators began their advance towards the presidential residence on Saturday morning, crossing checkpoints.
Hundreds of protesters entered the residenceshouting and waving the national flag.
image source, EPA
Something similar happened in the residence of the prime minister who, a few hours later, announced his resignation to give rise to a coalition government and protect the security of citizens.
But shortly following the announcement, videos of the minister’s residence on fire. The fire is believed to have been caused by protesters.
Other videos posted on social media showed people loitering around the presidential residence and some swimming in the pool. Others were emptying drawers.
The protests that have been seen worldwide this weekend in the capital, Colombo, have been on the streets for months.
image source, Archyde.com
Sri Lanka is currently in a serious financial crisis and does not have access to foreign currencies such as the dollar or the euro to pay for its imports.
These include food, medicine and fuel.
Less than a week ago, the Sri Lankan government announced that it did not have enough foreign currency reserves to import fuel and that gasoline and diesel reserves would barely last a few days if normal consumption levels were maintained.
So, in an attempt to head off the crisis, the authorities implemented a ban on the sale of gasoline and diesel to private consumers, becoming the first country to do so since the 1970s.
This led to Sri Lankan schools having to close as authorities asked the nation’s 22 million people to work from home.
This at a time when inflation reaches 30%.
Why is there a crisis?
Sri Lanka’s foreign exchange reserves are practically empty.
In May, for the first time in its history, the country failed to pay its foreign debt quota.
image source, EPA
The government attributes the crisis to the coronavirus pandemic, which hit Sri Lanka’s tourism industry, one of its main sources of foreign exchange earnings.
In addition, he has also mentioned that tourists are afraid to travel to the country following a series of bomb attacks on churches that took place in 2019.
However, some experts say the real problem is fiscal mismanagement.
Towards the end of its civil war in 2009, Sri Lanka sought to focus on supplying goods to the domestic market rather than trying to sell its products in foreign markets.
Thus, while export revenues remained low, the import bill continued to rise and the country’s current account deficit widened.
Currently, Sri Lanka imports US$3 billion more per year in products than it exports. This is why he has run out of currency.
In addition, the government has accumulated large debts with other countries, including China, to finance what its critics have called “unnecessary infrastructure projects.”
Much of the popular anger over the economic crisis has been directed at President Gotabaya Rajapaksa and his brother, Mahinda, who was prime minister but resigned in May.
image source, EPA
Fall in a day of fury
Por Ethirajan Anbarasan, BBC News, Colombo
These are extraordinary times in Sri Lanka.
image source, Archyde.com
After a day of fury and violence, the two highest-ranking leaders in the country have announced their resignation.
The news sparked jubilation at the main site of the protests in Colombo. Fireworks were heard throughout the city.
I am at the Galle Face protest site where many have begun to return home, though thousands more still remain. Some have been singing and playing musical instruments, celebrating.
image source, Archyde.com
Surprising how the situation has changed. A few days ago, a photo of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe smiling in parliament circulated on social media.
Many expressed their anger, saying they both looked happy while millions struggled to eat three times a day. But a week is a long time in politics.
I have seen President Rajapaksa at the height of his power. He was a ruthless and much feared man. No one, including journalists, would have wanted to see one of his furious moments.
That now the president has fled his official residence is something dramatic, that might not have been thought of a few months ago.
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