Sri Lanka is in a grave crisis and is finding it difficult to overcome it in the short span of time. Caught in a cleft stick due to excessive burden of foreign debts and Covid triggered problem which impacted Sri Lanka’s tourism, considered as its lifeline, the island country has lost its financial moorings.
It is on the verge of being placed into default by rating agencies after the non-payment of coupons on two of its sovereign bonds, while it is struggling to raise US $5 million required to import gas and has requested India to ship fuel as it has run out of it. Prime Minister Anil Wickremesinghe who has come in the place of much maligned Mahinda Rajapaksa, told people in his address to the nation on May 16 that the next couple of months will be the most difficult and “the country must prepare to make some sacrifices and face the challenges of this period.” Though to meet short term imports on essential goods, Sri Lanka has received $160 million in bridge financing from the World Bank. Yet it is hard for a country of 211.6 million population to avert public unrest for a long time.
Earlier, in his last-ditch effort to save his chair and stop the country from burning in the orgy of violence and mayhem, President Gotabaya Rajapaksa appointed leader of the United National Party, Ranil Wickremesinghe as Sri Lanka’s new Prime Minister. Taking the prime ministerial charge for a record 6th time, Wickremesinghe enjoys good relations with India and the West. It is said that by appointing Ranil Wickremesinghe the Prime Minister, President Gotabaya Rajapaksa fulfilled two immediate goals: One, keep India by his government’s side and Second, his presidential chair remain intact. It proved true to his plan. He defeated an opposition-backed no-confidence motion with the help of Ranil Wickremesinghe’s UNP on May 17.
Earlier protests and violence gripped streets of Sri Lanka amidst imposition of curfew. Shoot at sight order was issued to troops as they landed in Colombo after a day when rampaging protestors burnt down houses of Rajapaksa families, compelled PM Mahinda Rajapaksa to resign and forced him to flee for safety at a naval-base in Trincomalee, Sri Lanka’s north-east region. In the melee of clash between protesters and the government backers eight persons, including a ruling party lawmaker and two police officials died on May 9.
As per media reports, protestors even want President Gotabaya Rajapaksa to go as Sri Lankans feel their country will not be able to overcome the crisis so long as any of the Rajapaksa clan stays back in power. He is resisting public pressure, and in his bid to show his political relevance to the country, he has appointed Ranil Wickremesinghe as the Prime Minister as an interim arrangement. On May 10, in his address to the nation, President Gotabaya said a new cabinet with young leaders will be formed wherein there would be no Rajapaksa. The Sri Lankan President also said that through constitutional amendments, parliament will be empowered.
Since stocks of petroleum, food, medicine and raw materials for industries have almost run out and there are no foreign currencies to replenish them immediately, there is fear that agitated people may begin rioting for food, cooking gas and fuels. This is the reason President Gotabaya has ratcheted up to form an interim government.
However, there is a brutal truth. Within Sri Lankan law makers, ego is a big problem. Sri Lankan lawmakers will come out of party politics for the sake of the nation and its integrity is a million-dollar question. This can be seen in the political drama played out by lawmakers of the country when the country stumbled upon one after another crisis.
Sri Lanka witnessed bloody clashes in the streets of Colombo and other cities between protestors and supporters of ex-PM Mahinda Rajapaksa, resulting in death of eight and injury to more than 200 people. In the midst of widespread anarchy, President Gotabaya Rajapaksa sought help from opposition political parties to form an interim government.
On May 11, a group of 11 political parties sat together and prepared a list of the probable candidates for the prime ministerial chair. The list was expected to be sent to the President for finalisation, but soon after they came to know that Gotabaya called Ranil Wickremesinghe for talks, the 11-party group scrapped the list. Similarly, Samagi Jana Balawegaya’s Sajith Premadasa claimed that he accepted the President’s invitation to form an interim government. He sent a letter to the President in which he showed his willingness to lead a government provided the 19th Amendment to the Constitution should be implemented with support from all political parties within two weeks.
In April 2015, the 19th Amendment to the Constitution was passed and it envisaged the dilution of many powers of executive Presidency. Sajith Premadasa also put up another condition and it was that Gotabaya Rajapaksa must resign within a stipulated time period. The President didn’t invite him, despite announcing that a young leader will lead the interim government. Instead, he preferred to pick up a septuagenarian Wickremesinghe to lead the interim government. Why this last-minute change in the decision by President Gotabaya Rajapaksa is a matter of gossip in the diplomatic circle of Sri Lanka. Buzz is that it was done at the behest of India. However, to believe in such buzzes at this fluid and uncertain time in Sri Lanka is next to indulging in rumour mongering.
Nevertheless, in India, a palpable sign of worry can be seen in the government. If the crisis continues in Sri Lanka, millions will flee to India, burdening New Delhi’s responsibility of providing food and shelter to refugees. Out of such concerns, India on May 10 issued a statement, maintaining its support to Sri Lanka’s democracy, stability and economic recovery. “In keeping with our ‘Neighbourhood First’ policy, India has extended this year alone support worth over US$ 3.5 billion to the people of Sri Lanka for helping them overcome their current difficulties,” India’s Ministry of External Affairs Spokesperson Arindam Bagchi said in response to a media query.
Given the swirling rumours that India is behind such public anger against the Sri Lankan government where as many as 9 Rajapaksa family members were in cabinet, such statements were issued to show that India would remain steadfast in its commitment to democracy and stability in Sri Lanka. Also, in pursuance of its historical position that India invests its time, energy and well-being of people of Sri Lanka, it said: “India’s commitment to the people of Sri Lanka will continue.” Meaning is clear, India will not remain a mute bystander when in its immediate neighbourhood, Sri Lanka is sinking under economic crisis, triggered by a heavy load of external debts, including from that of China and Covid-19 pandemic.
Overall, the current uncertainty in Sri Lanka is darted against Rajapaksas and their unchecked involvement in financial profligacy, aided and abetted by China. However, since perception matters in politics, ongoing public resentment is also seen as one against China and its investments in unfeasible projects-right from Hambantota Port to Hambantota Port City to other infrastructural projects. As per official estimate, China accounted for about 10 percent of Sri Lanka’s US $35 billion foreign debt. However, China’s total lending could be much higher if loans from the Middle Kingdom’s state-owned enterprises and the Central bank would be taken into account. Remember the fact that Sri Lanka, unable to repay US $1.4 billion loan for a port construction in Colombo was forced to lease out the port to a Chinese company for 99 years in 2017. When Sri Lanka is burning under deep public anxiety over the chaotic state of the affairs of the country, China is silently watching the development. Meaning is clear: ‘Beijing doesn’t believe in the philosophy of ‘Friend in need is friend indeed.’
–The writer is a senior journalist with wide experience in covering international affairs. The views expressed are of the writer and do not necessarily reflect the views of Raksha Anirveda
