{"id":78748,"date":"2022-06-09T14:14:23","date_gmt":"2022-06-09T14:14:23","guid":{"rendered":"http:\/\/en.bornomalanews.com\/?p=78748"},"modified":"2022-06-09T14:14:23","modified_gmt":"2022-06-09T14:14:23","slug":"sri-lanka-presidents-brother-quits-parliament-amid-crisis","status":"publish","type":"post","link":"https:\/\/en.bornomalanews.com\/?p=78748","title":{"rendered":"Sri Lanka president\u2019s brother quits Parliament amid crisis"},"content":{"rendered":"

\"\"News Desk:<\/strong> Basil Rajapaksa, the younger brother of Sri Lanka\u2019s president and the country\u2019s former finance minister, said he resigned from Parliament on Thursday, amid mounting criticism of his alleged role in dragging the island nation into its worst economic crisis in memory.<\/p>\n

He told a news conference he had submitted a letter to give up his Parliament seat but insisted that he was not solely responsible for the country\u2019s economic hardships.<\/p>\n

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\u201cThe crisis was there even when I took over,\u201d he said. \u201cI did my best with all my strength.\u201d<\/p>\n

Rajapaksa, a member of the powerful political family that has ruled Sri Lanka for much of the past two decades, served as finance minister from July last year until April, when he resigned with other ministers over the government\u2019s failure to resolve the economic situation.<\/p>\n

He said Thursday that successive governments that ruled Sri Lanka since the 1950s deserve blame too because \u201cthey took loans and spent them\u201d without taking steps to avert a crisis.<\/p>\n

The resignation could be seen as a severe blow to the Rajapaksa dynasty, which has faced growing public outrage. Protesters have occupied the entrance to President Gotabaya Rajapaksa\u2019s office for more than 50 days demanding his resignation, saying the primary responsibility for the economic crisis rests with him and his family, who they accuse of corruption and mismanagement.<\/p>\n

The protests drove another family member, Prime Minister Mahinda Rajapaksa, from office last month amid nationwide violence that saw his supporters attack peaceful protesters. One of the president\u2019s other siblings and a nephew also resigned from their Cabinet posts but still serve as lawmakers.<\/p>\n

Mahinda Rajapaksa was Sri Lanka\u2019s president from 2005 to 2015.<\/p>\n

Basil Rajapaksa said Thursday he would not be involved in government anymore but vowed to \u201ccontinue political work.\u201d<\/p>\n

Sri Lanka is nearly bankrupt with an acute foreign currency crisis that resulted in a foreign debt default. The country announced last month that it is suspending nearly $7 billion in foreign debt repayments due this year out of about $25 billion due by 2026. Sri Lanka\u2019s total foreign debt stands at $51 billion.<\/p>\n

For months Sri Lankans have endured shortages of food and fuel, power outages and other privations. The country lacks the financial wherewithal to buy imported necessities and pay its debts.<\/p>\n

Authorities have started discussions with the International Monetary Fund for a bailout package and have asked the IMF to lead a conference to unite Sri Lanka\u2019s lenders.<\/p>\n","protected":false},"excerpt":{"rendered":"

News Desk: Basil Rajapaksa, the younger brother of Sri Lanka\u2019s president and the country\u2019s former finance minister, said he resigned from Parliament on Thursday, amid mounting criticism of his alleged role in dragging the island nation into its worst economic crisis in memory. He told a news conference he had submitted a letter to give […]<\/p>\n","protected":false},"author":7,"featured_media":78749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,14],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n