Ranil Wickremesinghe returns as Sri Lanka PM, sworn in by President Sirisena

Ranil Wickremesinghe was once again sworn in as Sri Lanka's Prime Minister before President Maithripala Sirisena on Sunday, likely ending a political crisis that began in late October when he was ousted in a surprise decision.

Wickremesinghe was sworn in around 11:15 am, which was considered as an auspicious time for Wickremesinghe, who took over the post for the fifth time, according to local media.

The South Asian island country had plunged into instability after Sirisena replaced Wickremesinghe with Mahinda Rajapaksa, who was then twice sacked by parliament. Rajapaksa resigned on Saturday as a government shutdown loomed. 

Wickremesinghe's comeback is an embarrassment for President Maithripala Sirisena, who replaced him with former president Mahinda Rajapaksa following differences over policy making and other issues.

However, Rajapaksa failed to win a parliamentary majority and resigned on Saturday as a government shutdown loomed.

Parliament has already passed a confidence vote in Wickremesinghe while it sought his reinstatement as Prime Minister to defuse a constitutional crisis.

On Friday, Sri Lanka's Supreme Court rejected Rajapaksa's bid for an injunction against a lower court's order that barred him and his Cabinet from performing their roles.

Many foreign countries refused to recognise Rajapaksa's government. Credit rating agencies Fitch and Standard & Poor's downgraded Sri Lanka, citing refinancing risks and an uncertain policy outlook.

Sirisena came to power in 2015 on a pledge to uphold democracy and stamp out corruption. However, his popularity has been hit by a crisis many say he triggered because of personal differences with Wickremesinghe.

(With Reuters inputs)