Sri Lanka President vows to finish term, won’t run for re-election

7/6/2022 4:28:00 PM

Sri Lanka President vows to finish term, won’t run for re-election - Bloomberg

Sri Lanka President vows to finish term, won’t run for re-election - Bloomberg

(June 7): President Gotabaya Rajapaksa vowed to finish the remaining two years in his term despite monthslong street protests calling for his ouster, but won’t stand for re-election as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis.“I can’t go as a failed president,” Rajapaksa said Monday in a wide-ranging interview at his official residence in Colombo, his first with a foreign media organization since the crisis unfolded. “I have been given a

A (June 7): President Gotabaya Rajapaksa vowed to finish the remaining two years in his term despite monthslong street protests calling for his ouster, but won’t stand for re-election as he focuses on fixing a financial mess that tipped Sri Lanka into its worst-ever economic crisis.A COLOMBO (June 7): Sri Lanka will need US$5 billion over the next six months to ensure basic living standards, and is renegotiating the terms of a yuan-denominated swap worth US$1.PETALING JAYA: Berikut adalah penerima Darjah Kebesaran Panglima Setia Mahkota (P.PETALING JAYA: Berikut adalah penerima Darjah Kebesaran Panglisa Setia Mahkota (P.

“I can’t go as a failed president,” Rajapaksa said Monday in a wide-ranging interview at his official residence in Colombo, his first with a foreign media organization since the crisis unfolded.“I have been given a mandate for five years.The island nation's worst economic crisis in seven decades led to a shortage of foreign exchange that stalled imports of essential items such as fuel, medicine and fertiliser, provoking devaluation, street protests and a change of government.I will not contest again.PERKHIDMATAN AWAM Datuk Seri Dr.” The defiance comes in the face of slogans of “Gota Go Home”, with protesters blaming Rajapaksa and his family for decisions that led to severe shortages of everything from fuel to medicine, stoking inflation to 40% and forcing a historic debt default.3 billion for fuel imports, US$900 million for food, US$250 million for cooking gas and US$600 million more for fertiliser this year, Prime Minister Ranil Wickremesinghe told parliament.Thousands of demonstrators have camped outside the president’s seaside office since mid-March, forcing him to retreat to his barricaded official residence about a kilometer away.Haji Azmi Rohani, Setiausaha Kerajaan Negeri Johor PIHAK BERKUASA TEMPATAN / BADAN BERKANUN Datuk Seri Mohd Annuar Zaini, Yang Dipertua Majlis Agama Islam dan Adat Melayu Perak SWASTA / PERSATUAN / SUKARELAWAN / SUKAN Datuk Low Kian Chuan, Presiden Dewan Perniagaan dan Perindustrian Kebangsaan Malaysia SWASTA / PERSATUAN / SUKARELAWAN / SUKAN Datuk Sri Abdul Farid Alias, Presiden dan Pengarah Eksekutif Malayan Banking Berhad Datuk Seri Tajuddin Atan, Pengerusi Bank Muamalat Malaysia Berhad Datuk Lee Yoon Kong, Pengarah Eksekutif United U-Li Corporation Berhad Datuk Sri Che Khalib Mohamad Noh, Pengarah Urusan Kumpulan MMC Corporation Berhad Datuk Seri Dr.

The economic tailspin spiraled into political turmoil with the resignation of the president’s old brother — Mahinda Rajapaksa — as the nation’s prime minister, after clashes between government supporters and the protesters turned bloody in May.5% in 2022, Wickremesinghe said, but added that he was confident growth could return with a strong reform package, debt restructuring and international support.Noormustafa Kamal Yahya, Pengasas dan Pengarah Urusan T.Gotabaya Rajapaksa and his new Prime Minister Ranil Wickremesinghe are seeking about US$6 billion in aid over six months from the International Monetary Fund and countries including India and China, Wickemesinghe told parliament on Tuesday.Stocks plunged for a third day with the blue-chip S&P Sri Lanka 20 Index down 3."We need to achieve economic stability by the end of 2023.6% as of 11:15 a.Marine Sdn.m.On Tuesday, the cabinet approved a US$55-million credit line from India's Exim Bank to fund 150,000 tonnes of urea imports — a critical requirement as supplies have run out during the current cropping season.Bhd.

in Colombo Tuesday.The rupee has lost about 82% over the past year and the nation’s debt is trading deep in distressed territory.While food inflation of 57% is partly driven by higher global commodity prices, a depreciated currency and low domestic production, it is estimated that yields from the next harvest will be halved by the lack of fertiliser.Datuk Sri Mohd Asghar Khan bin Goriman Khan TUDM, Panglima Tentera Udara Markas Tentera Udara PERKHIDMATAN POLIS DIRAJA MALAYSIA (PDRM) Datuk Seri Haji Mazlan Lazim, Bekas Timbalan Ketua Polis Negara Datuk Razarudin Husain.“This is unlikely to placate protesters who are calling for his immediate resignation,” said Patrick Curran, an economist at Tellimer.“With presidential elections more than two years away, Rajapaksa’s decision to see his term through will contribute to heightened political uncertainty over the next couple years and could hamper reform efforts.Sri Lanka was also renegotiating with China the terms of a yuan denominated swap worth US$1.” The president said he wanted to replicate his previous successful stints serving the nation.Sathasivam, Bekas Menteri Kesihatan/ Bekas Presiden Parti Malaysian Indian Congress (MIC) Datuk Seri Ong Ka Chuan, Bekas Menteri Perdagangan Antarabangsa dan Industri/ Bekas Setiausaha Agung Parti Malaysian Chinese Association (MCA) Datuk Seri Idris bin Jusoh, Bekas Menteri Pendidikan Tinggi/ Pengerusi Lembaga Kemajuan Tanah Persekutuan (FELDA) Datuk Sri Diraja Adnan Yaakob, Bekas Menteri Besar Pahang/ Ahli Dewan Undangan Negeri Pahang.Sathasivam, Bekas Menteri Kesihatan/ Bekas Presiden Parti Malaysian Indian Congress (MIC) Datuk Seri Ong Ka Chuan, Bekas Menteri Perdagangan Antarabangsa dan Industri/ Bekas Setiausaha Agung Parti Malaysian Chinese Association (MCA) Datuk Seri Idris bin Jusoh, Bekas Menteri Pendidikan Tinggi/ Pengerusi Lembaga Kemajuan Tanah Persekutuan (FELDA) Datuk Sri Diraja Adnan Yaakob, Bekas Menteri Besar Pahang/ Ahli Dewan Undangan Negeri Pahang.

Gotabaya Rajapaksa oversaw the urban development authority and was Sri Lanka’s defense secretary under then-President Mahinda Rajapaksa, when they crushed a 30-year civil war in 2009.The initial terms provided that the swap could only be used if Sri Lanka maintained reserves equivalent to three months of imports.‘You Can’t Have a Mixed System’ The president reiterated his controversial goal to push through “natural agriculture,” a short-lived move to ban chemical fertilizers that caused crop output to slump.Gotabaya Rajapaksa was also skeptical about the success of a planned amendment to the constitution, which seeks to contain the executive presidency.Wickremesinghe, who is also finance minister, will unveil an interim budget next month that he said aims to slash government expenses and looks to increase annual welfare spending to US$500 million from about US$350 million.Cabinet is due to approve the proposals as early as Monday, which would rollback wide-ranging powers Gotabaya Rajapaksa pushed through parliament shortly after he was elected president in 2019.A draft of the so-called 21st amendment gives some powers back to the parliament and restores independence to commissions in key decisionmaking.

Either the presidency should be abolished or the parliament is kept out of governing, Gotabaya Rajapaksa said.“You can’t have a mixed system,” he said.“I experienced this and now know.People may blame me when I tell this but that’s the truth.” Here are some other highlights from the interview.

Rajapaksa’s comments are edited lightly for clarity: The economy: “We waited too long (to seek help from the International Monetary Fund).If we had gone at least six months or a year earlier, it would not have come to this state.” “We have appointed financial and legal advisers (for a debt restructure) but that is for the capital markets.Bilaterals we have to go to individually; our major loans are from China, Japan, India and the Paris Club.” “I have requested help from India and China.

I personally spoke to the leaders and wrote to them.Then I have spoken to Middle Eastern leaders personally like Qatar, UAE especially, and want to speak to Saudi and Oman to get help for long term contracts for supply of crude oil.” “The subsidy system will have to go.We cannot cut down on public servants or the military, we can decrease by cutting down on recruitment.” His struggles: “It is political as a president.

You know, I am not a politician.Fortunately or unfortunately people when they are in politics for so long you can have so much baggage, you have lot of friends.Lot of people who want help are your supporters.When you go against this — I tried to go against this — you don’t get their help.” Constitutional amendment: “What is this executive (powers) of the president? My personal opinion is that if you have a presidency he must have full powers.

Otherwise abolish executive presidency and go for full Westminster-style parliament.” Subscribe to Mid-day email alert We deliver news to your inbox daily.

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