Sri Lanka acting president says IMF talks nearing conclusion amid state of emergency

Sri Lanka’s acting president Ranil Wickremesinghe said on Monday that the country’s negotiations with the International Monetary Fund (IMF) were nearing conclusion, and discussions with foreign countries for assistance were progressing.

In a statement issued by his office, Mr Wickremesinghe said that his administration would engage with peaceful protesters who had legitimate concerns and work to find solutions.

The country is due to elect a new leader on Wednesday after former president Gotabaya Rajapaksa fled to Singapore amid a wave of public unrest triggered by a severe economic crisis.

Mr Wickremesinghe declared a state of emergency giving him broad authority amid growing calls for his resignation two days before the country’s legislators elect his successor.

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Mr Wickremesinghe became acting president on Friday after his predecessor, Gotabaya Rajapaksa, fled the country on Wednesday and resigned after months-long mass protests over the country’s economic collapse.

Mr Wickremesinghe’s move to impose a state of emergency comes as protests demanding his resignation have continued in most parts of the country, with some protesters burning his effigy.

On Saturday, legislators began the process of electing a new leader to serve the rest of the term abandoned by Mr Rajapaksa.

Nominations for the election of the new president will be heard on Tuesday, and if there is more than one candidate, another vote will follow on Wednesday.

The emergency decree issued by Mr Wickremesinghe invokes sections of the Public Security Ordinance that allow him to make regulations in the interests of public security, the preservation of public order, the suppression of mutiny, riot or civil commotion, or for the maintenance of essential supplies.

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Under the emergency regulations, Mr Wickremesinghe can authorise detentions, take possession of any property and search any premises. He can also change or suspend any law.

The South Indian island nation is engulfed in an unprecedented economic crisis that has triggered political uncertainty.

Sri Lanka has run short of money to pay for imports of basic necessities such as food, fertiliser, medicine and fuel for its 22 million people.

Its rapid economic decline has been all the more shocking because before the crisis the economy had been expanding, with a growing, comfortable middle class.

The economic hardships led to political upheaval and widespread protests demanding the government led by Mr Rajapaksa should step down. Although many ministers resigned in April, Mr Rajapaksa had remained in power until last week.

The main protests have occurred in the capital, Colombo, where protesters occupied the front of the president’s office for more than 100 days.

The protesters accuse Mr Rajapaksa and his powerful political family of siphoning money from government coffers and of hastening the country’s collapse by mismanaging the economy.

The family has denied the corruption allegations, but Mr Rajapaksa acknowledged that some of his policies contributed to Sri Lanka’s meltdown.

Mr Rajapaksa flew first to the Maldives on Wednesday and then to Singapore. — AP