"India is Sri Lanka’s closest neighbour..... and continue to follow closely the recent developments in Sri Lanka"

(Gotabaya Rajapaksa has been president since November 2019 and, alongside five other members of his family who held senior political posts, stands accused of corruption, bankrupting the country and triggering the worst economic crisis since independence.)

India stands with the people of Sri Lanka and pitches for "established institutions and constitutional framework".

"India is Sri Lanka’s closest neighbour and our two countries share deep civilizational bonds.We are aware of the many challenges that Sri Lanka and its people have been facing, and we have stood with the Sri Lankan people as they have tried to overcome this difficult period," MEA spokesman Arindam Bagchi said in response to media queries.

People wait to visit Presidential Palace: Colombo/Reuters snap

"In pursuance of the central place that Sri Lanka occupies in our Neighbourhood First policy, India has extended this year itself an unprecedented support of over US$ 3.8 billion for ameliorating the serious economic situation in Sri Lanka," he said.

"We continue to follow closely the recent developments in Sri Lanka. India stands with the people of Sri Lanka as they seek to realize their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework," the MEA spokesperson said. 

Opposition unites to form alternative government

Sri Lanka’s main opposition parties have hurriedly moved to form an all-party unity government a day after the president and the prime minister said they would resign from office after mounting public pressure.

On Sunday, leaders from the main opposition political parties met to discuss an effective transition of power, following the much anticipated resignation of President Gotabaya Rajapaksa on 13 July.

Caretaker prime minister Ranil Wickremesinghe, who has only been in office since May, also agreed to step down if an all-party government could be formed to take over the running of the country. Wickremesinghe, whose private residence was set alight by protesters on Saturday, emphasised that the country was facing critical times and needed a stable government. 

Soldiers were deployed around the city and the chief of defence staff, Shavendra Silva, called for public support to maintain law and order. But troops simply watched from afar as crowds of people splashed in the garden pool of Rajapaksa’s sprawling residence, lounged on beds and took selfies of themselves on their mobile phones to capture the moment.

Wimal Weerawansa, a MP who was formerly with the ruling party but broke away as the country’s economy collapsed, said that the opposition parties had “agreed in principle to form a government of unity with all parties’ participation for an interim period.” Discussions were said to be still continuing about who will be the new prime minister and president.

The unity government is likely to be only a temporary measure until parliamentary elections can be held. However, whoever takes over the running of the country faces a difficult road ahead, with Sri Lanka’s economic woes showing no sign of relenting, and warnings that the fuel and food shortages could worsen. 

They could also face issues of public legitimacy. Many of the protesters who have been demonstrating against President Rajapaksa are not supportive of many of the MPs, who they view as still part of the political establishment that caused Sri Lanka’s downfall.

Rajapaksa has been president since November 2019 and, alongside five other members of his family who held senior political posts, stands accused of corruption, bankrupting the country and triggering the worst economic crisis since independence.

According to the constitution, once President Rajapaksa steps down, the parliamentary speaker Mahinda Yapa Abeywardena will temporarily take over for 30 days, and then parliament will have to vote to appoint a formal presidential successor.

Particularly crucial for Sri Lanka is to have a government in place that can continue to negotiate with the International Monetary Fund (IMF). 

The country, which has already defaulted on its $51 bn of foreign debt, is hoping for an emergency $4bn bailout as its foreign reserves have run out and it can no longer afford to import fuel, food and medicine, leading to what the UN recently described as an imminent “humanitarian crisis”.