Sri Lanka's newly elected Prime Minister Ranil Wickremesinghe said, on Friday, that his government will work to improve bilateral relations with India and overcome the country's economic crisis.

Wickremesinghe, a member of the center-right United National Party, was sworn in as the country's new prime minister for the fourth time on Thursday.

He stated that one of his primary responsibilities at the moment is to assist the country in recovering from the economic crisis.

Wickremesinghe was quoted by Lankan news website Ada Derana as saying: "I have taken on a challenge of uplifting the economy and I must fulfill it." 

The Indian embassy in Sri Lanka expressed hope for political stability in the country as well as continued cooperation with the new government.

"High Commission of India hopes for political stability and looks forward to working with the Government of Sri Lanka formed in accordance with democratic processes pursuant to the swearing in of Hon'ble @RW_UNP as the Prime Minister of #SriLanka," the embassy tweeted.

On Monday, pro- and anti-government activists clashed in Colombo, against the backdrop of a state of emergency declared last Friday and a nationwide strike calling for the president's resignation. 

Sri Lankan Prime Minister Mahinda Rajapaksa resigned from office in an attempt to defuse the ongoing crisis. Protesters set fire to his and the president's homes.

Sri Lanka is experiencing the worst economic crisis in its history, dating back to its independence in 1948.

The country's dire economic situation was caused by foreign currency shortages as tourist flows dried up during the Covid-19 pandemic, preventing it from purchasing enough fuel. 

Remittances from Sri Lankans working abroad have also suffered as a result of the pandemic. 

It is worth mentioning that food and basic necessities, such as fuel and gas, are in short supply, and many parts of the island nation are experiencing lengthy power outages.