Protests in Sri Lanka have been sparked by the government’s mismanagement of the country’s worst economic crisis since independence in 1948.
Ishara S. Kodikara | Afp | Getty Images
Sri Lanka has decreed a curfew in the Colombo capital that will last until 5am on Friday.
The government of incumbent President Ranil Wickremesinghe imposed a curfew on Thursday at noon, a day after President Gotabaya Rajapaksa fled to the Maldives to escape months of furious protests from Sri Lankans demanding his resignation.
The usual protest sites, however, were quiet on Thursday, Reuters reported.
Rajapaksa appointed Wickremesinghe as acting president before leaving Sri Lanka on a military plane. This came as a result of protests over the government’s mismanagement of the country’s worst economic crisis since independence in 1948.
Angry protesters have stormed both Rajapaksa Palace and Wickremesinghe office in recent days. Although Rajapaksa has stated his intention to resign, he has not yet done so.
The Sri Lankan Parliament is expected to appoint a new full-time president on July 20. The opposition election is its main leader Sajith Premadasa, son of former President Ranasinghe Premadasa.
Speaking before the curfew was announced, Washington-based Millennium Project senior member Asanga Abeyagoonasekera told CNBC that while the military has been on the side of protesters so far, things could to change.
“It can drive in another direction,” he said, warning that there could even be a coup in Sri Lanka, such as Myanmar.
Need for new faces
Abeyagoonasekera told CNBC’s “Squawk Box Asia” that protesters want “new faces” in politics. He said the people want elections to be held after a period of stability is established. “[There should be] an interim government with all parties together, ”he said.
In earlier statements on a day of rapid development, ODI Global think tank senior research partner Ganeshan Wignaraja told CNBC’s “Street Signs Asia” that Parliament will elect a new president on July 20th.
Wignaraja also described a possible bailout program by the International Monetary Fund, with which Sri Lanka is holding talks, as “quite soft”. He said the program would involve raising interest rates to fight inflation and control spending, adding that he expects normalcy in the economy to return to normal by 2023.