Index Investing News
Thursday, April 23, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Sri Lanka financial disaster: The omnipotent Rajapaksas underneath fireplace | Politics Information

by Index Investing News
April 1, 2022
in World
Reading Time: 4 mins read
A A
0
Home World
Share on FacebookShare on Twitter


Anger is boiling over in Sri Lanka on the nation’s worst financial disaster since independence in 1948, a lot of it directed on the island nation’s omnipotent Rajapaksa household.

Late on Thursday, a whole lot of individuals tried to storm the house of Gotabaya Rajapaksa, the present president and one in every of 4 politically energetic brothers. In an evening of violence, one individual was injured and a minimum of 45 others had been arrested.

The AFP information company profiles the clan, which has held sway over the nation’s politics for many years and which returned to energy after a quick hiatus in 2019 when Gotabaya was elected president.

Prime Minister Mahinda Rajapaksa

Sri Lanka''s newly appointed Prime Minister Rajapaksa
Sri Lankan Prime Minister Mahinda Rajapaksa [File: Dinuka Liyanawatte/Reuters]

Mahinda Rajapaksa, 76, is the charismatic head of the group and the present prime minister. He beforehand held the put up in 2004, and was then president from 2005 to 2015.

Gotabaya appointed him to the prime ministership a second time three years in the past.

Mahinda is adored by the Sinhala-Buddhist majority for crushing separatist Tamil rebels in Might 2009 following a brutal army offensive that ended a decades-long civil warfare.

The bloody ultimate weeks of the civil warfare ended with – in keeping with estimates by the United Nations – the deaths of about 40,000 civilians, who had been herded into so-called no-fire zones that had been then bombed by the Sri Lankan armed forces.

Rajapaksa denied the dying toll and refused a global inquiry into alleged atrocities. A sequence of native inquiries have did not yield both a correct warfare crimes investigation or prosecutions.

Throughout his rule, Sri Lanka additionally moved nearer to China, borrowing nearly $7bn for infrastructure initiatives, lots of which become white elephants mired in corruption.

Critics say he additionally did little to bridge the divide with Sri Lanka’s Tamils after the warfare. The group is barred from commemorating their warfare lifeless and stays largely marginalised.

President Gotabaya Rajapaksa

Sri Lanka's President Gotabaya Rajapaksa
Sri Lankan President Gotabaya Rajapaksa [File: Dinuka Liyanawatte/Reuters]

Rajapaksa, 72, was Mahinda’s primary lieutenant throughout his time as the top of state, holding the influential put up of secretary to the Ministry of Defence with day-to-day management of the armed forces and police.

He denies accusations that he was behind dying squads that kidnapped and “disappeared” dozens of opponents in infamous white vans.

Dubbed “The Terminator” by his family, he’s feared by foes for his brief mood.

As president, he has presided over Sri Lanka’s spiralling financial disaster.

A dire scarcity of international forex – wanted to pay down Sri Lanka’s debt – pressured the federal government to ban swaths of imports, inflicting extreme shortages of necessities.

Sri Lanka’s closely tourism-dependent financial system was first hit by the Easter Sunday serial blasts of 2019 after which torpedoed by the COVID-19 pandemic.

However many specialists say that financial mismanagement by the Rajapaksas can also be responsible, together with years of continual price range deficits and ill-advised tax cuts.

Finance Minister Basil Rajapaksa

basil rajapaksa
Finance Minister Basil Rajapaksa [File: Dinuka Liyanawatte/Reuters]

Basil Rajapaksa, 70, is a political strategist who managed the financial system underneath Mahinda and is now the finance minister.

He was referred to as “Mr Ten P.c” in a BBC interview in reference to commissions he allegedly took from authorities contracts.

Subsequent administrations did not show any fees he siphoned tens of millions of {dollars} from state coffers. All instances towards him have been dropped since Gotabaya turned president.

Minister Chamal Rajapaksa

chamal rajapaksa
Chamal Rajapaksa [File: Andrew Caballero-Reynolds/Reuters]

Chamal Rajapaksa, 79, was speaker of parliament when Mahinda was president and can also be a former minister of transport and aviation.

He presently holds the irrigation portfolio and is quantity two within the defence division underneath Gotabaya, who can also be the defence minister.

Previously a police officer, he as soon as served as a private bodyguard to Sirimavo Bandaranaike, the world’s first girl prime minister.

Minister Namal Rajapaksa

namal rajapaksa
Namal Rajapaksa, centre, in Colombo [File: Dinuka Liyanawatte/Reuters]

Namal Rajapaksa, 35, a lawyer, is the scion of the household dynasty and the eldest son of Mahinda, who’s considered grooming him to be president in the future.

He entered parliament in 2010 aged simply 24, and is now minister for sports activities and youth.

Throughout his father’s decade in energy, Namal was extremely influential, though he didn’t maintain any portfolio.

A rival former administration accused him of cash laundering and different corruption fees, which he denies.



Source link

Tags: allpowerfulcrisiseconomicfireLankaNewspoliticsRajapaksasSri
ShareTweetShareShare
Previous Post

ESG in mining can’t be diminished merely to a matter of compliance

Next Post

China Weighs Giving U.S. Full Entry to Audits of Most Corporations

Related Posts

The Costly Illusion of the Golden Dome – The Cipher Brief

The Costly Illusion of the Golden Dome – The Cipher Brief

by Index Investing News
April 21, 2026
0

OPINION — “The Golden Dome for America strategy remains centered on affordable and scalable capabilities. In the short-term, we will...

The Grocery Bill Is Calm – The AgriFood System Is Not — Global Issues

The Grocery Bill Is Calm – The AgriFood System Is Not — Global Issues

by Index Investing News
April 17, 2026
0

If you are reading commodity price movements as evidence that the closure of the Strait of Hormuz has been absorbed...

New U.S. autonomous Squire Seaglider conducts test flight

New U.S. autonomous Squire Seaglider conducts test flight

by Index Investing News
April 13, 2026
0

Key PointsREGENT confirms successful ground-effect flight of its autonomous Squire defense Seaglider in the United States on April 13, 2026.Squire...

Can global supply chains recover from the Iran war? | US-Israel war on Iran

Can global supply chains recover from the Iran war? | US-Israel war on Iran

by Index Investing News
April 9, 2026
0

Conflict upends flow of critical raw materials for manufacturing, aviation and technology.The United States and Iran may have agreed to...

Artemis II crew will see total solar eclipse during moon flyby

Artemis II crew will see total solar eclipse during moon flyby

by Index Investing News
April 5, 2026
0

The crew is expected to lose contact with Earth for about 40 minutes Monday while they're behind the far side...

Next Post
China Weighs Giving U.S. Full Entry to Audits of Most Corporations

China Weighs Giving U.S. Full Entry to Audits of Most Corporations

Touring an open home this weekend? Keep away from these three issues

Touring an open home this weekend? Keep away from these three issues

RECOMMENDED

Cariuma Drops Leopard Print Sneakers Just in Time for Fall

Cariuma Drops Leopard Print Sneakers Just in Time for Fall

September 10, 2022
‘Black Adam’ likely to hold serve at box office over ‘Prey for the Devil’ (NASDAQ:WBD)

‘Black Adam’ likely to hold serve at box office over ‘Prey for the Devil’ (NASDAQ:WBD)

October 29, 2022
Litecoin Falls 10% In Selloff By Investing.com

Litecoin Falls 10% In Selloff By Investing.com

March 17, 2024
Luxury Center City Homes Luring Montreal Suburbanites Downtown

Luxury Center City Homes Luring Montreal Suburbanites Downtown

December 24, 2022
FL Earnings: Foot Locker experiences internet loss for Q2 2024, regardless of a rise in gross sales

FL Earnings: Foot Locker experiences internet loss for Q2 2024, regardless of a rise in gross sales

August 29, 2024
Cara Delevingne Sparks Backlash With Topless Pic as She Shows Off New Apparently Misspelled Tattoo

Cara Delevingne Sparks Backlash With Topless Pic as She Shows Off New Apparently Misspelled Tattoo

September 29, 2023
What the Merge Means for Ethereum Miners

What the Merge Means for Ethereum Miners

August 5, 2022
Instacart looks set for  billion valuation in market debut By Reuters

Instacart looks set for $13 billion valuation in market debut By Reuters

September 19, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In