Sri Lanka crisis: Former Finance Minister Ali Sabry speaks on his early resignation

After many resignations of ministers  President Rajapaksa on Monday announced at least four new Ministers. Basil Rajapaksa was replaced by Ali Sabry, as Minister of Justice, as the new Finance Minister, but now the reports are doing rounds that in less than 24 hours Ali Sabry also resigned from his post. 

Now talking on the same Sabry said that he took up the job as part of a temporary measure. He said, “However, after much reflection and deliberation and taking into consideration the current situation, I am now of the view for Your Excellency to make suitable interim arrangement to navigate the unprecedented crisis fresh and proactive, and unconventional steps need to be taken including the appointment of a new finance minister."

For unreserved Sri Lanka is presently facing a foreign exchange shortage which has led to a fuel, power, and gas shortage, and has sought the assistance of friendly countries for economic assistance. Sri Lanka is witnessing at least 10-hour daily power cuts. Sri Lanka's currency has been also devalued by almost SLR 90 against the US dollar since March 8. Sri Lanka's economy has been in a free fall since the COVID-19 pandemic due to the crash of the tourism sector.