Economic Crisis in Sri Lanka: Will Ranil Wickremesinghe be able to Rebuild the Country?

Economic Crisis in Sri Lanka: Ranil Wickremesinghe's first responsibility as soon as he became the Prime Minister of the country is to get the country out of the economic crisis.
Economic Crisis in Sri Lanka: Will Ranil Wickremesinghe be able to Rebuild the Country?
Economic Crisis in Sri Lanka: Will Ranil Wickremesinghe be able to Rebuild the Country?Image Credit: AP

Economic Crisis in Sri Lanka: Ranil Wickremesinghe was appointed as the new Prime Minister of the country on Thursday amid the ongoing economic crisis in Sri Lanka. Ranil Wickremesinghe's first responsibility as soon as he became the Prime Minister of the country is to get the country out of the economic crisis.

In such a situation, it is going to be a big task for them. Talking about the relations between India and Sri Lanka, both the countries have been good friends for decades.

Now it will be interesting to see whether Sri Lanka will be able to recover from the economic crisis after the arrival of the new Prime Minister, and how will its relations with India in the coming days.

Ranil Wickremesinghe has become PM for the fourth time

Ranil Wickremesinghe has become the Prime Minister of Sri Lanka for the fourth time. However, he could never complete his term. Wickremesinghe is a member of the United National Party (UNP).

In the 2020 elections, the UNP won only one seat and Wickremesinghe had the seat. Even after the election defeat, Ranil Wickremesinghe was elected the Prime Minister of the country.

Let us tell you that in October 2018, Wickremesinghe was removed from the post of Prime Minister by then-President Maithripala Sirisena. Then after two months of turmoil, Sirisena reinstated him back to this post.

Economic Crisis in Sri Lanka: Country's new PM was elected amid violent protests

Country's new PM was elected amid violent protests
Country's new PM was elected amid violent protestsImage Credit: AP

After the economic crisis in Sri Lanka, violent demonstrations are taking place in the country. Amid these protests, Mahinda Rajapaksa resigned from the post of Prime Minister. After which the discussion started to make Ranil Wickremesinghe the new Prime Minister.

Amidst violent protests, President Gotabaya Rajapaksa on Thursday appointed Ranil Wickremesinghe as the country's new prime minister.

Will new PM be able to get the country out of economic crisis?

Ranil Wickremesinghe
Ranil WickremesingheImage Credit: AP

Sri Lanka is facing worst economic crisis at the moment. There the prices of basic things like food and medicines are skyrocketing. People have come out on the streets in protest against the government.

Meanwhile, Ranil Wickremesinghe was appointed as the new Prime Minister of the country. He is widely accepted in political circles as a man who can manage the economy with visionary policies.

In such a situation, the question arises whether Wickremesinghe will be able to get the country out of the economic crisis with his new policies or else Sri Lanka will be completely bankrupt?

Let us tell you that the foreign exchange reserves of Sri Lanka are almost empty. Due to the debt of more than $ 51 billion on Sri Lanka, its currency is also falling continuously. At present, the value of one dollar is more than 360 Sri Lankan rupees.

Relations between India and Sri Lanka may deepen even further

It is being speculated that after becoming the new Prime Minister, the relations between India and Sri Lanka may deepen even further. Ranil Wickremesinghe is considered close to India.

On becoming the Prime Minister, the Indian High Commission tweeted, in which he wrote that India's commitment to the people of Sri Lanka will continue. India hopes for political stability in Sri Lanka.

During the oath ceremony after becoming the Prime Minister on Thursday, when Ranil Wickremesinghe was asked how the country's relations with India were going to be in the future, he said that "relations will get better".

Ranil Wickremesinghe has been a close friend of India

Ranil Wickremesinghe has been a close friend of India
Ranil Wickremesinghe has been a close friend of IndiaImage Credit: PTI

Talking about Ranil Wickremesinghe, he has been close to India. Wickremesinghe has visited India four times as Prime Minister. He toured India in October 2016, April 2017, November 2017 and October 2018.

Prime Minister of India Narendra Modi had visited Sri Lanka twice during his time. It was under Wickremesinghe's government that India helped Sri Lanka set up the '1990' ambulance service during the Covid period.

Economic Crisis in Sri Lanka: India has so far given assistance of $ 3.5 billion to Sri Lanka

India is helping Sri Lanka out of the economic crisis like a good neighbour. India has so far reached $ 3.5 billion in aid to Sri Lanka. Apart from this, India is also continuously sending basic things like food, fuel and medicines.

Ranil Wickremesinghe had expressed gratitude for helping India a few days ago. He said that India has helped us a lot. Apart from financial help, he is helping us in other ways as well, so we should be grateful to him.

Economic Crisis in Sri Lanka: Will Ranil Wickremesinghe be able to Rebuild the Country?
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