Sri Lanka Crisis: Central Bank Governor resigns after cabinet resignations; public protests continue, top cricketers react

Sri Lankan Central Bank Governor Ajith Nivard Cabraal on Monday submitted his resignation hours after the cabinet ministers offered to resign, Reuters reported. Cabraal announced his resignation in a Twitter post. He wrote "In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa. @GotabayaR #SriLanka #GoSL."

In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa. @GotabayaR #SriLanka #GoSL

— Ajith Nivard Cabraal (@an_cabraal) April 4, 2022

Sri Lankan President Gotabaya Rajapaksa has called for a unity government to deal with the country`s economic crisis. Earlier, President Rajapaksa declared a state of emergency following protests over an economic crisis. 

Stock trading was halted twice because of a plunge in share prices.

See Zee Business Live TV Streaming Below:

The debt-laden country is struggling to pay for imports of fuel and other essentials due to a severe shortage of foreign currency, leading to hours-long power cuts and widespread demonstrations that continued despite a weekend curfew.

Traffic was back on the streets of the country`s main city Colombo on Monday, but there were reports of sporadic and peaceful protests from across the country.

Youth and Sports Minister Namal Rajapaksa, nephew of Gotabaya and the son of Prime Minister Mahinda Rajapaksa, said on Twitter on Monday he had told the president`s secretary about his resignation with immediate effect.

Namal said he quit in the hope it would help the president and prime minister`s "decision to establish stability" for Sri Lankans and the government.
Education Minister Dinesh Gunawardena told local media late on Sunday that "we handed our letters of resignation to the prime minister".

"The president and the prime minister will discuss and take relevant decisions," he said, without clarifying how many ministers had offered to quit.

Udaya Gammanpila, the chief of one of the 11 political parties that form the ruling coalition, said he had met the president and prime minister on Sunday with a plan to form a new cabinet.

"Our initial proposal was to set up an interim government representing all political parties of the government," Gammanpila of the Pivithuru Hela Urumaya party told Reuters.

The island nation of 22 million, off India`s southern tip, is also grappling with soaring inflation after the government steeply devalued its currency last month ahead of talks with the International Monetary Fund for a loan programme.

The country`s expenditure has exceeded its income under successive governments while its production of tradable goods and services has been inadequate. The twin deficits were badly exposed by the COVID-19 pandemic that crippled its economic mainstay, the tourism industry.

A number of former and current cricketers including those in Maharashtra playing for the Indian Premier League (IPL), expressed their worries about the current situation in their homeland.

Former skipper and current consultant coach of the Sri Lanka men`s senior team, the men`s Under-19 and the Sri Lanka A team, Mahela Jayawardene, as well as Kumar Sangakkara, Bhanuka Rajapaksa, and Wanindu Hasaranga who are at the IPL, expressed their concern over the recent protest and the government`s attempts to suppress the people`s rights to protest by imposing emergency law and curfew.

"I`m sad to see emergency law and curfew in Sri Lanka. The government cannot ignore the needs of the people who have every right to protest. Determining people who do is not acceptable and I am very proud of the brave Sri Lankan and lawyers who rushed to their defence," Mahela wrote in an Instagram post.

"True leaders own up to mistakes. There is massive urgency here to protect the people of our country, united in their suffering. These problems are man-made and can be fixed by the right, qualified people. Certain people controlling the economy of this country have lost the people`s confidence and must stand down. We then need a good team to give the country confidence and belief.

"There is no time to waste. It is time to be humble, not make excuse and to do the right thing," he posted with the hash tag #WakeUpSriLanka.

Meanwhile, Sangakkara, the head coach of Rajasthan Royals, joined with protesting Sri Lankans and justified their struggle.