Sri Lanka Economic Crisis Live Updates

Sri Lanka Economic Crisis Live Updates: Protesters call for the removal of President Gotabaya Rajapaksa; MK Stalin wants Prime Minister Modi’s approval to assist Sri Lankan Tamils. Live updates on the Sri Lankan economic crisis: The Indian government has handed Sri Lanka with a $2.4 billion package of financial aid in February and March, as the country struggles to pay for imports.

Live updates on the Sri Lankan economic crisis: Friday saw the lifting of the curfew that had been enforced in Colombo and its surrounding areas to keep protesters from demonstrating against Sri Lankan President, Gotabhaya Rajapaksa, and demanding his resignation under control.

According to the Associated Press, police used tear gas and water cannons to disperse the thousands of people who had gathered outside Rajapaksa’s villa in Mirihina to try to keep the demonstration under control. The demonstrators reportedly stoned two army vehicles that were blocking the entrance to the property while yelling, “Go home, gota go home,” according to reports.

They are also said to have set fire to a bus and refused to allow a fire vehicle to pass through their area. Senior Superintendent Nihal Thalduwa told Reuters on Friday that 54 individuals had been detained as a result of the violence in the area. While five police officers were hurt during the demonstration, the Associated Press reported that at least one protester was also injured.

While this is going on, Tamil Nadu Chief Minister MK Stalin has requested permission from Prime Minister Narendra Modi to enable his state’s administration to offer humanitarian assistance to Tamils in Sri Lanka. Several economic refugees have already arrived in the state as a result of rising unemployment and surging prices, which are driving more and more people to the brink of famine.

Sri Lanka is experiencing power outages that may last up to 13 hours each day due to a shortage of fuel supplies. The island government, which has massive debt commitments and little foreign reserves, is struggling to meet its import requirements.

During the months of February and March, India gave a $2.4 billion package of financial aid. The government is also recruiting professionals to aid in Sri Lanka’s economic recovery and to collaborate on a number of cooperative initiatives.

What transpired during Jaishankar’s recent visit to Sri Lanka is still a mystery.

Foreign Minister S Jaishankar met with Sri Lankan President Gotabaya Rajapakse, Prime Minister Mahinda Rajapakse, and Finance Minister Basil Rajapaksa during his official visit to the country.

On Monday in the Sri Lankan capital, he signed a Memorandum of Understanding for a Maritime Rescue Co-ordination Centre (MRCC) to be established by Bharat Electronics Ltd at the Sri Lankan Naval Headquarters in Colombo, one of a slew of agreements.

Another memorandum of understanding is for India to build a hybrid solar and wind farm on three islands off the coast of Jaffna, where Sri Lanka had abandoned a similar Chinese project after Delhi objected to it on the grounds of national security. The islands are located on the coast of Tamil Nadu, quite near to the city of Rameswaram.

In February and March, the government of Delhi gave a $2.4 billion package of financial aid. The government is also recruiting professionals to aid in Sri Lanka’s economic recovery and to collaborate on a number of cooperative initiatives.

According to information obtained by The Indian Express, Colombo has approached New Delhi for an extra $1 billion in aid, on top of the $1 billion line of credit announced on March 17 by the Indian government.

Jaishankar also paid a visit to the office of Indian information technology behemoth HCL Technologies, where he met with Sri Lanka’s Minister of Youth and Sports, Namal Rajapaksa, who is also the Prime Minister’s son. The Board of Investment (BOI) of Sri Lanka welcomed HCL Technologies to the country in 2020, and the company began operations there the following year.

Jaishankar and Peiris were also present during the signing of a Memorandum of Understanding (MoU) on the execution of the Sri Lanka Unique Digital Identity (SL-UDI) initiative with grant help from India. This will be modelled after the Aadhaar system in India. The signing of another Memorandum of Understanding (MoU) on Monday was for the building of computer laboratories in 200 schools in the Galle district.

Jaishankar also met with a delegation of Sri Lankan Tamil political leaders. President Rajapaksa met with Tamil MPs for the first time since the 2020 parliamentary elections on Friday, marking the first such meeting since the polls. In the two-hour meeting, there were no talks of the political topic of devolution to the North and East, which was scheduled.

During his speech, Rajapaksa announced a development fund for the Tamil majority region, and a statement from the President’s office stated that he had briefed MPs, all of whom were members of the Tamil National Alliance, on a number issues, including the release of suspects, the establishment of a “truth-finding mechanism,” and the “resolution of issues relating to missing persons.”

The conference had been set twice before in the previous two years, but was cancelled on both occasions. The Tamil National Alliance (TNA) recently wrote to Prime Minister Narendra Modi, urging India to press Rajapaksa to execute the 13th amendment, which provides for political devolution to the provinces and was included into the constitution on India’s request in 1987.

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