Sri Lanka Economic Crisis highlights: Ex-Sri Lanka cenbanker Weerasinghe says he accepts offer to be new governor

Four new ministers have sworn in before President Gotabaya Rajapaksa on Monday, hours after the entire cabinet of ministers resigned amidst severe political instability and economic crisis. Rajapaksa sacked his brother and Finance Minister Basil Rajapaksa amidst the economic crisis. Meanwhile, Sri Lanka's opposition on Monday dismissed the president's invitation to join a unity government.

Former Central Bank ofSriLanka(CBSL) official P. Nandalal Weerasinghe said on Monday that he had accepted an offer from the country's president to become the next governor of the central bank. (Reuters)

SriLanka's Opposition parties on Monday rejected President Gotabaya Rajapaksa's invitation to join the proposed unity government as a "sham" after he fired his brother and Finance Minister Basil Rajapaksa from his post, as protests were held nationwide over the ruling Rajapaksa family's poor handling of the country’s worst economic crisis.

A slew of poor financial decisions led to the disastrous situation and Jayawardene and Sangakkara, in their social media statements, didn't mince words while criticising the government. Sangakkara urged the government to listen to the people and keep their "destructive political agendas" aside.

SLFP to quit govt and sit independent in Parliament, says Duminda Dissanayake

"Sri Lanka Freedom Party (SLFP) MPs to quit the government and will sit independently in Parliament," said MP Duminda Dissanayake, reported Daily Mirrow.

Ruling Party group meeting under way at President's Office

Ruling Party group meeting under way at President's Office with the President and Prime Minister chairing it. 132 MPs are reportedly attending the meeting, reported Daily Mirror.

Police use tear gas and water cannons to disperse protesters near Carlton House, Tangalle, Daily Mirror reported.

Former Minister of State Nimal Lanza saidthat more than 50 parliamentarians of the Sri Lanka People's Front are preparing to become independent in Parliament, reported Daily Mirror.

Man kills self in front of Prez house as protests intensify

Sri Lanka cenbank to hold monetary board meeting as scheduled on Monday

SriLanka's central bank will hold its monetary board meeting as scheduled on Monday after Governor Ajith Nivard Cabraal offered his resignation earlier in the day, sources familiar with the matter told Reuters.

"The Monetary Board meeting will be held on Monday as previously scheduled. There is no change," one of the two sources said.

A press conference scheduled for 10:30 a.m. local time (0500 GMT) on Tuesday will also go ahead as planned, the source said.

SLFP calls to quit government coalition over disagreement on new ministers, says report

The Sri Lanka Freedom Party (SLFP) called to quit the government coalition asAli Sabry was appointed as the Finance Minister,Daily Mirror reported.

President Gotabaya Rajapaksa has called the SLFP for an urgent meeting at 3 pm today to discuss SLFP'sconcerns. SLFP also questioned the Highways Minister's appointmentat this juncture and no appointment of ministers of power and energy when the country is facing such a massive fuel and power crisis.

Top Sri Lanka cricketers back anti-government protests

Some Sri Lankan cricket stars are backing protests sweeping the island nation over a spiralling economic crisis, with former Test captain Mahela Jayawardene urging government leaders to resign.

The country is suffering severe shortages of food, fuel and other essentials -- along with record inflation and crippling power cuts -- in its most painful downturn since independence from Britain in 1948.

Protests condemning the government's management of the crisis were staged around the island on the weekend in defiance of a curfew and a state of emergency that saw troops deployed to keep order on the streets.

Jayawardene, who now coaches Mumbai in the Indian Premier League, said Sri Lanka's leadership had lost the public's confidence. (AFP)

Protestors bring down Police Barricades placed near Carlton House, Tangalle

What transpired over the past 24 hours:

- A 36-hour curfew ended on Monday (April 4).

- Protests were taking place across the country over the weekend despite the curfew.

- The President invited all parties in the Parliament to form a unity government.

- Ban on social media that was in place was ended on Sunday following disagreements among Cabinet members.

- On Sunday night, all 26 Cabinet members quit.

-Four new ministers have sworn in before President Gotabaya Rajapaksa on Monday (April 4).

-President Gotabaya Rajapaksa sacks brother and Finance Minister Basil Rajapaksa amidst the economic crisis.

- The country continues to remain in a state of emergency despite the curfew ending.

PM Modi, Minister of External Affair S Jaishankar to discuss Sri Lanka crisis

People shout slogans againstSriLanka's President Gotabaya Rajapaksa and demand that Rajapaksa family politicians step down, during a protest amid the country's economic crisis, at Independence Square in Colombo. (Reuters Photo)

Public help sought to locate two wanted over setting fire on buses in Mirihana protest: Report

State Minister Sudharshini Fernandopulle resigns: Report

SL President sacks brother FM Basil Rajapaksa amid economic crisis

Sri Lankan President Gotabaya Rajapaksa sacks brother and Finance Minister Basil Rajapaksa amidst the economic crisis. Ali Sabry replaced Basil Rajapaksa and wassworn in as the new Finance Minister. G L Peiris wassworn in as the Foreign Minister, Dinesh Gunawardena was sworn in as the Education Minister and Johnston Fernando was sworn in as the Minister of Highways, Daily Mirror reported.

Four new Sri Lankan ministers sworn in: Report

Four new ministers have sworn in before President Gotabaya Rajapaksa on Monday, hours after the entire cabinet of ministers resigned amidst severe political instability and economic crisis in Sri Lanka,Daily Mirror reported.

Ahead of Sri Lanka's new Cabinet sworn in, protests have intensified in various parts of Sri Lanka

Protestors hold banners and placards during a demonstration against the surge in prices and shortage of fuel and other essential commodities in Colombo on April 3, 2022. Armed troops in Sri Lanka had a tense confrontation with a crowd protesting a worsening economic crisis on April 3, after a social media blackout failed to halt another day of anti-government demonstrations. (AFP Photo)

Sri Lankan central bank governor resigns

Sri Lankan central bank governor Ajith Nivard Cabraal said on Monday that he submitted his resignation in the context of all cabinet ministers resigning.

Cabraal announced his resignation in a Twitter post. (Reuters)

Sri Lanka president invites all parties in parliament to join govt

SriLanka's president on Monday invited all political parties represented in parliament to accept ministerial portfolios to help find a way out of the country's worst economic crisis in decades, his office said in a statement.

"President Gotabaya Rajapaksa invited all political parties to come together to find solutions to the ongoing national crisis," the statement said.

Sri Lanka to have new Cabinet amidst worst economic crisis

A newSriLankan Cabinet is expected to be sworn in on Monday as part of the government’s bid to tackle the raging public anger against the ongoing economic hardships caused by the island nation’s worst economic crisis.

On Sunday night, all 26 ministers submitted letters of resignation.

Sri Lanka's Colombo Stock Exchange halts trading after sharp fall

SriLanka's Colombo Stock Exchange on Monday said it has halted trading of shares for 30 minutes due to a sharp fall in the benchmark share price index.

"Please note that the Market has been halted for 30 minutes due to the S&P SL20 index dropping over 5% from the previous close," the bourse said on its website.

Good morning, readers! Stay tuned for latest updates from Sri Lanka's economic crisis turned political.