The need for stability amid crisis in Lanka - EDITORIAL

Lankan society is at a critical juncture. A number of crucial issues have converged at the same time. Our Government is indebted to the tune of US$51 billion to international financial institutions and is unable to make even interest payments. 

Our export earnings via tourism have been very limited, in the aftermath of the Easter Sunday bombings, and the Covid-19 pandemic. A serious blunder by the immediate past president in banning petroleum-based fertilizer, weedicides and pesticides, backfired badly in that, it adversely affected the output of the plantation industries, which is our next biggest income earner.
With hardly any foreign exchange earnings, the country is facing an acute economic and energy crisis triggered by a shortage of hard currency. The resultant fuel shortage has forced tens of thousands of people to languish in queue for days outside petrol filling stations since March 2022.

Bad agricultural harvests also a result of the ban on fertilizer, weedicides etc., created a shortage of staple foodstuffs in the market. Inflation running at around 30% has put even basic foods out of reach of the ordinary people.Children are unable to get to school as public transport has been cut and to make matters even worse, school exams have been postponed due to shortage of newsprint! According to the United Nations (UN), it is likely that all Lanka’s children (6 million in total) will be adversely affected by the crisis. Resultantly, widespread protest demanding the president, his premier and cabinet to resign, engulfed the country. 

But areas in the north and east, (areas dominated by minority communities) have remained largely silent, claiming  their interests – a demand for justice for crimes committed during the ethnic war are not reflected in the demands of the Colombo-based protest movement.As hunger and anger grew over the deteriorating situation, protests continued unabated, hundreds of thousands of people took to the streets demanding the president and his prime minister resign. 

Ultimately, the Prime Minister and his cabinet were forced by the president to resign. Ranil Wickremesinghe, a 4-time former prime minister was appointed PM by the president in an effort to calm the situation. However, the changes were too little and too late. On July 9, the president himself was forced to flee when protestors stormed his official residence, he fled the country the following day.  Premier Wickremesinghe was sworn-in to assume the role of temporary (Acting) President.

Ranil Wickremesinghe who is backed by the governing party in parliament, is widely expected to be elected President when parliament meets
on Wednesday.
However, large sections of the public remain opposed to accepting him.  Mr. Wickremesinghe is seen to be a front man of the Rajapaksa family and his resignation continues to be a key demand of the protestors. Whatever the pros and cons of the matter, Ranil Wickremesinghe, if elected on Wednesday, will be the lawful president constitutionally. Again, with foreign reserves having virtually dried up, it means we do not have hard currency to procure our requirements of food, medicine, fuel and other basics. 

To overcome this situation and stabilize the economy, discussions commenced with the International Monetary Fund (IMF) for a debt restructuring facility which could help ease the hardships of the population.But, to continue to negotiate with the IMF for such a facility, the country needs a stable and internationally acceptable government formed within the parameters of Sri Lankan constitution. Meanwhile, the public are calling for an all-party government to help the nation transit the present crisis. Already the leader of the Opposition has cast his hat into the presidential race. Anura Kumara Dissanayake – leader of the JVP - has also announced his candidature. In like manner, MP Dullas Alahapperuma, a member of the ruling party in parliament – SLPP - has also announced his candidature for the presidential post.

Sources within the Tamil National Alliance (TNA) have said the Acting President had up to this time, been one of the few national leaders receptive to searching for solutions to the problems faced by minority communities.It is sad to note even at this crucial hour, some national political parties continue making excuses not to face this question, saying it could be discussed later. The need of the hour is for our politicians in parliament to put aside their private and personal agendas and come together and extricate our country out of the pit they themselves have led the country into.We need a stable government, and we need a bailout. Do we, as a nation, have the capacity to save our people and country? Or would we become the next
Libya or Somalia?