Anti-government protests continue in cash-strapped Sri Lanka

By Riyaz ul Khaliq

ISTANBUL (AA) - Anti-government demonstrations in Sri Lanka continued for a sixth day on Thursday as the island nation faces a dollar crunch and has declared bankruptcy to pay off its foreign debt.

Protesters have pitched tents outside the office of the country's president, where on Thursday they also celebrated the April New year, a yearly Tamil ethnic festival.

Demonstrators held several rituals to mark the day at the protest site, which has been renamed "Gota-Go-Gama," the website Newswire reported.

Sri Lanka has defaulted on all of its foreign debt as the island nation grapples with mass anti-government protests amid its worst economic crisis.

The country's Finance Ministry said last Tuesday that the pandemic and ongoing Russia-Ukraine war have made the payment of $51 billion "impossible."

The island nation of 22 million people is facing an economic and political crisis with protesters taking to the streets amid a shortage of basic goods and government ministers resigning en masse.

Newly picked Finance Minister Ali Sabry has said his government is mulling beginning talks with the International Monetary Fund (IMF) next week to "secure as much as $4 billion in aid for the economy."

Sabry said Sri Lanka is also holding discussions with China and India on seeking financial support.

"We are very confident that the Chinese will look at us very positively. China has a longstanding relationship with Sri Lanka," he said.

The World Bank is also expected to grant around $10 million in emergency funds to Sri Lanka to purchase essential drugs.

The beleaguered government has also urged its citizens living outside Sri Lanka to send home money to "support the country at this crucial juncture by donating much-needed foreign exchange."