Sri Lanka has appointed a three-member advisory group to assist government officials engaging with the International Monetary Fund, President said.
Sri Lanka's foreign exchange reserves are almost exhausted, due to which it is unable to import essential items. There is a shortage of food grains, sugar, milk powder, vegetables and medicines in the country. The condition has deteriorated to that extent that there is a fight for food items and fuel. Due to this, the army has been deployed at petrol pumps.
Meanwhile, Sri Lanka has appointed a three-member advisory group to assist government officials engaging with the International Monetary Fund (IMF), the president said on Wednesday, as the island nation looks to get through a severe economic crisis.
Read | Sri Lanka crisis: 10 points to understand seriousness of the situation
1. Sri Lanka power cut for 13 hours
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There is a power cut of 13 hours in the country. Public transport has come to a standstill, as there is no diesel to run the buses. India has delivered two fuel consignments to Sri Lanka in the last 24 hours, India's high commission on the crisis-hit island nation said on Wednesday.
India supplied 36,000 tonnes of petrol and 40,000 tonnes of diesel, the high commission said, taking total Indian fuel supplies to Sri Lanka to 270,000 tonnes.
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2. Parliament session called by President Gotabaya Rajapaksa
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On Tuesday, President Gotabaya Rajapaksa called the Parliament session for the first time since the proclamation of emergency in Sri Lanka. But, not just the opposition, many coalition partners of the government did not attend this session.
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3. Former President Sirisena switched sides
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The ruling Sri Lanka Podujana Peramuna (SLPP) coalition led by Mahinda Rajapaksa won 150 seats in the 2020 general elections. After this, disgruntled MPs from the Sri Lanka Freedom Party (SLFP), led by former President Sirisena, switched sides and joined the ruling Sri Lanka Podujana Peramuna coalition.
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4. President Gotabaya Rajapaksa will not resign
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President Gotabaya Rajapaksa will not resign under any circumstances and he will face the current issues, the govdernment said. The government also defended Rajapaksa's decision to impose emergency, which was later withdrawn.
The United Nations on Wednesday welcomed the lifting of the State of Emergency in Sri Lanka, which was imposed for the 'maintenance of public order'.
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5. US advises its citizens against travelling to Sri Lanka
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Amid the ongoing unrest in Sri Lanka owing to its economic crisis, the United States on Wednesday advised its citizens against travelling to the island nation, pointing to the fuel and medicine shortages there, besides the Covid-19 and terror threats.
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6. Cricketer Sanath Jayasurya thanks India for help
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Sri Lankan cricketer Sanath Jayasurya thanked 'big brother' India for helping Sri Lanka. "You know as always as a neighbour, the big brother next to our country has been helping us. We are very grateful to the Indian government and the Prime Minister (Modi)," Jayasurya said.
7. Critics say root cause of crisis is economic mismanagement
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Critics say the roots of the crisis, the worst in several decades, lie in economic mismanagement by successive governments that created and sustained a twin deficit - a budget shortfall alongside a current account deficit.
Foreign exchange reserves have fallen by 70% in the past two years and were down to a paltry USD 2.31 billion as of February, leaving Sri Lanka struggling to import essentials, including food and fuel.
