Opposition activists protest against rising living costs, at the entrance of the president's office in Colombo.


A huge crowd tried to storm the Sri Lankan president's seaside office Tuesday as anger flared over runaway prices brought about by the worst financial crisis in the island's modern history.
The cost of food, medicine and other essential goods have risen dramatically across the South Asian nation, with long queues outside petrol stations and rolling blackouts now the norm.
A critical foreign currency shortage has left traders unable to pay for imports, and President Gotabaya Rajapaksa spoke with a visiting International Monetary Fund delegation to discuss solutions to the worsening economic situation.
Shortly after the meeting, several busy streets in Colombo were blocked by protesters, who poured into the centre of the capital despite weeks of severe disruptions to public transport caused by fuel shortages.
A crowd marshalled by the main opposition party, the SJB, surrounded the Presidential Secretariat and clashed with heavily armed police, who pushed back efforts to barge into the building.
"These people have come here to tell the president to go home if he can't solve the unprecedented economic problems faced by ordinary people," said SJB lawmaker Harin Fernando, as the crowd chanted calls for Rajapaksa's resignation.
The coronavirus pandemic wrought havoc on Sri Lanka's economy and crippled earnings from the island's tourism sector -- a key foreign exchange earner.
International rating agencies have downgraded Sri Lanka, effectively blocking its access to commercial borrowings, and raised doubts about the government's ability to service its $51 billion external debt.
Fuel costs have risen by nearly 80 percent since early February while food prices rose by a quarter according to January figures.
Sri Lanka last week allowed the rupee to float, a move that saw the currency nosedive 25 percent against the dollar and triggered a fresh wave of price increases.
It followed calls by the IMF for a currency devaluation and higher taxes to revive the economy.
In a brief statement on Monday, the IMF said it had not been asked for a bailout, but was "ready to discuss options if requested".
Source: AFP

Teaser of much awaited drama ‘Mein Manto Nahi Hoon’ released
- 18 hours ago

Gold price soars Rs1,465 per tola in Pakistan
- 18 hours ago
'Terrorist' killed, two others wounded in clash with police in DI Khan
- 19 hours ago

Pakistan voices support for Iran's inherent right to self-defence
- 11 hours ago
Naveed Asghar appointed acting Wapda chairman
- 18 hours ago

Spotify’s HiFi lossless streaming might really, finally, actually be coming soon
- 8 hours ago
Pakistan, Turkiye reiterate support for Iran sovereignty, its right to self-defence
- 12 hours ago

India says it will never restore Indus water treaty with Pakistan
- 19 hours ago

Sources: Draft prospect Bailey cancels 76ers visit
- 7 hours ago
New Zealand overpower Pakistan to clinch FIH Hockey Men’s Nations Cup title
- 11 hours ago

Hill or Rountree: Which fighter has the best UFC knockout?
- 7 hours ago

Panthers within one win of a Cup repeat: Grades for both teams, look ahead to Game 6
- 7 hours ago