Posted on 11 July 2022
A few years ago, Sri Lanka’s economy was growing strongly enough to provide jobs and financial security for most. It’s humanitarian crisis has worsened over the last week, with increased dependence on aid from India and other countries, as its leaders desperately try to negotiate a bailout with the International Monetary Fund.
The collapse has led to political turmoil and protests, and on Saturday demonstrators stormed the residences of both President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe. The speaker of Parliament later said Rajapaksa had agreed to resign Wednesday, and Wickremesinghe said he too would step down once a new government is formed.
A timeline of Sri Lanka’s deepening political and economic crisis, leading up to president Gotabaya Rajapaksa's resignation is available here.