Sri Lanka's Economic Crisis Reaches Breaking Point
Thousands of protesters stormed Sri Lanka's presidential palace on July 9, marking a dramatic escalation in months of demonstrations against what participants call 'catastrophic mismanagement' by leaders. The country faces its worst economic crisis since independence, with inflation surpassing 50% and critical shortages of fuel, medicine, and food.
'We can't afford rice anymore – my children eat one meal a day now,' said Ravi, a 32-year-old fisherman turned protester, speaking to a CGTN stringer at the occupied palace. Like many, he blames consecutive governments for corruption and reckless foreign debt policies that left the island nation effectively bankrupt.
The Human Toll of Collapse
Public anger crystallized through viral social media campaigns like the '#GoHomeRajapaksas' movement demanding the president's resignation. University student Anjali, 24, told our contact: 'This occupation isn't vandalism – it's reclaiming what's ours. Our leaders live in luxury while hospitals run out of painkillers.'
Analysts note Sri Lanka's crisis stems from slashed tourism revenue during COVID-19, failed organic farming mandates, and $51 billion in foreign debt – with $7 billion due this year alone.
What Comes Next?
President Gotabaya Rajapaksa fled the country amid the protests, while Prime Minister Ranil Wickremesinghe assumed emergency powers. Many protesters remain skeptical: 'We need systemic change, not musical chairs between politicians,' argued IT worker Sanjay, 29.
As global financial institutions negotiate bailout terms, Sri Lankans brace for tougher reforms – and vow to keep demanding accountability.
Reference(s):
We Talk: Sri Lankans occupying the president's palace tell their story
cgtn.com
