Sri Lanka names new PM in bid to address growing crisis - News Summed Up

Sri Lanka names new PM in bid to address growing crisis


Sri Lanka appointed a new prime minister on Thursday, as its embattled president seeks a way out of the country's worst economic crisis since independence that has sparked widespread protests. The 73-year-old is an economic liberal who has experience dealing with the International Monetary Fund, which is currently in discussions to bail out Sri Lanka. "I look forward to working together with him to make Sri Lanka strong again." Economic mismanagement, the COVID-19 pandemic and rising energy costs following Russia's invasion of Ukraine have drained state coffers, meaning Sri Lanka is running low on fuel and essential medicines and facing daily power blackouts. "Neither my father nor myself have any intention to leave (Sri Lanka)."


Source: Daily Nation May 12, 2022 22:44 UTC



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