Sri Lanka’s acting president Ranil Wickremesinghe yet again declared a state of emergency late on Sunday, as the country grapples with social unrest and crippling economic crisis.

In a notice, the government said - "It is expedient, so to do, in the interests of public security, the protection of public order and the maintenance of supplies and services essential to the life of the community." The island-nation announced emergency last week after its ex-president Gotabaya Rajapaksa fled to Singapore amid the crisis. Tensions escalated across the nation after the state declared bankruptcy on June 9.

After months of turbulence in the Sri Lanka economy, fuel prices in the island nation plunged for the first time after five hikes since February. The diesel and petrol retail prices were reduced by Rupees 20 each. The new prices came into effective from 10 pm on Sunday. Here's what has happened in the country so far:

1. Gotabaya out

Gotabaya, who had fled to Singapore last week, officially resigned as the Sri Lanka President on Friday. Following this, Prime Minister Wickremesinghe was sworn in as the acting president. He will remain in office till a new president is elected. Meanwhile, Wickremesinghe has also offered to resign. An official statement said he will quit after an all-party government is established and the majority is secured in Parliament.

2. New President to be announced soon

Sri Lanka's Parliament started the process of electing a new President on Saturday. The nominations will be heard on Tuesday and if there is more than one candidate, the lawmakers will vote on Wednesday. The new president will possibly be declared on July 20 and will serve for the rest of Rajapaksa's term until November 2024. The new President could then elect a new Prime Minister, who would then have to be approved by Parliament.

3. Who are the main contenders for President

Acting President Ranil Wickremesinghe and Opposition leader Sajith Premadasa are among those joining the race to become the President. Besides them, Marxist Janatha Vimukthi Peramuna (JVP) leader Anura Kumara Dissanayake and Dullas Alahapperuma, a breakaway Sri Lanka Podujana Peramuna (SLPP) candidate, are the other two leaders who have so far announced their candidacy to contest the vote in Parliament. The 225-member Parliament is dominated by Rajapaksa's ruling Sri Lanka Podujana Peramuna (SLPP) party. The ruling SLPP has officially announced its backing for Wickremesinghe, news agency PTI reported.

Acting Sri Lanka President Ranil Wickeremesinghe

READ FULL REPORT HERE: Wickremesinghe, Premadasa among four leaders to contest presidential election in Sri Lanka

4. Sri Lankans storm official building

Thousands of Sri Lankan, who were angered over the government's handling of the ongoing economic crisis, stormed the official building, including residential places of the president and president following the announcement regarding the country's bankruptcy. Chaotic scenes emerged from the presidential palace where the protesters were scene using the gym, pools and offices there. Military tanks were deployed in Colombo amid simmering tensions and also a curfew was imposed in the capital last week.

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People stand around the swimming pool as they visit the President's house on the day after demonstrators entered the building.

5. Sri Lanka receive aid from India

India assured Sri Lanka that it will continue to support democracy, stability and economic recovery in the country. Earlier, India expeditiously finalised and delivered assistance as well as support worth about $3.8 billion in 2022. According to reports, India's assistance has been in the form of currency swaps, deferment of repayment of Sri Lanka's liabilities to the Reserve Bank of India under the Asian Clearing Union mechanism, credit assistance of more than USD 1.5 billion for fuel, food, medicines, fertilisers, and other essential commodities.

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Other governments like the US, Japan and Australia have provided a few hundred million dollars in support. On June 21, The US government announced the third tranche of new funding to address the immediate needs of people in Sri Lanka. "This humanitarian assistance, totalling $5.75 million, will provide cash assistance, short-term jobs, and agriculture supplies such as seeds directly to crisis-affected people to meet their basic needs," the US press release said.

Japan had earlier contributed $ 1.5 million, which the UNICEF said will enable it to procure medicines for over 1.2 million people, among them 53,000 pregnant mothers and nearly 122,000 children in immediate need. The emergency aid by Japan was also directed to providing food assistance to children and families amidst the economic crisis, the United Nations World Food Programme (WFP)said.

The country is also relying on aid from neighbouring China. The government is further involved in negotiations with the International Monetary Fund (IMF) on a bailout plan. Earlier in June, the United Nations launched a worldwide public appeal for assistance.

Sri Lanka needs about $5 billion in the next six months to cover basic necessities for its 22 million people, who have been facing long queues, worsening shortages and power cuts. The island nation's inflation topped 50 percent in June.

(Edited by : Akriti Anand)

First Published:Jul 18, 2022 11:27 AM IST