Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

Sri Lanka to undergo test through 'economic war cabinet'

  • By Al Mayadeen English
  • Source: Agencies
  • 16 May 2022 12:58
3 Min Read

Sri Lanka's opposition parties agree to join forces to find solutions for the county's grave economic crisis.

  • x
  • Sri Lankan protestors
    Sri Lankan protesters

Sri Lanka was set to form a new cabinet on Monday as bitter political rivals make common cause to tackle a worsening economic crisis after last week's deadly violence, party leaders said.

Protesters remained camped outside President Gotabaya Rajapaksa's residence demanding that he resign, as troops continued to patrol the streets while ordinary Sri Lankans queued up for scarce supplies.

Ranil Wickremesinghe, appointed Prime Minister for a sixth time on Thursday, has struggled to form a "unity government" after the main opposition insisted that Rajapaksa should follow his brother Mahinda who quit as premier last week.

However, the Samagi Jana Balawegaya (SJB) opposition party agreed to break ranks and join an "economic war cabinet," party sources told AFP.

Supporting the new government

Opposition leader Sajith Premadasa said his party would not block in Parliament any legitimate "solutions to the economic problems."

Another opposition group, the Sri Lanka Freedom Party (SLFP), said they will also offer conditional support to Wickremesinghe, overturning their earlier decision not to.

Related News

World Bank projects modest economic growth for Syria in 2025

World Bank passes $250M project for Lebanon's post-war reconstruction

"We will support any correct decisions taken by the new government to address tour grave economic crisis," SLFP leader Maithripala Sirisena said in a letter to the premier.

No finance minister

Official sources said the full cabinet was likely to be sworn in ahead of Tuesday's parliamentary session, the first since Wickremesinghe's appointment.

Four ministers were sworn in on Saturday, all from Rajapaksa's Sri Lanka Podu Jana Peramuna (SLPP) party.

However, there is no finance minister yet, and it is widely expected that the Prime Minister will retain the crucial portfolio to lead ongoing negotiations with the IMF for an urgent bailout.

Securing necessary funding

Wickremesinghe held talks Sunday with World Bank and Asian Development Bank representatives in Colombo focusing on the issues facing the supply of medicines, food, fuel, and fertilizer, his office said in a statement.

"While explaining that discussions have been positive, the Prime Minister stated that the government is facing the immediate challenge of securing funds to pay for the fuel requirement for this coming week," the statement said.

"Due to the dollar shortages in the banks, the government is now exploring other options of securing the necessary funding," 

Shortages of food, fuel, and medicines, along with record inflation and lengthy blackouts, have brought severe hardships to the country's 22 million people.

Protesters across the nation have for weeks demanded the resignation of President Rajapaksa over Sri Lanka's worst economic crisis since independence in 1948.

  • World Bank
  • Gotabaya Rajapaksa
  • IMF
  • Asia
  • Sri Lanka

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS