Sri Lanka's newly-appointed finance minister quits after just one day

Sri Lanka's newly-appointed finance minister quits after just one day

Rajapaksa's cabinet was thrown into turmoil after all ministers resigned over the weekend amid anti-government demonstrations.

Sri Lanka's newly appointed finance minister MUM Ali Sabry quit his post in just one day amid escalating political situation in the country.

In a letter to President Gotabaya Rajapaksa, Sabry said he had decided to take up the post of finance minister as an "interim measure" until a "suitable, full-time and sustainable solution could be found".

The former justice minister said "fresh and proactive" steps need to be taken in order to navigate the present "unprecedented crisis".

Sabry put in his papers leaving the finance ministry post with "immediate effect". Sabri also mentioned that he was ready to step down from his Parliamentary seat if the president intended to appoint a person from outside the current Parliament.

Rajapaksa's cabinet was thrown into turmoil after all ministers resigned over the weekend amid anti-government demonstrations. The country's economy has been hit by rising fuel prices and inflation with its foreign reserves at an all-time low as the country has struggled to service its rising foreign debt.

Sri Lanka's newly-appointed finance minister quits after just one day
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The International Monetary Fund (IMF) said it was monitoring Sri Lanka's situation amid reports of a bailout even as President Rajapaksa called all opposition parties to come together to form a unity government. However, opposition leaders rejected the move as protests escalated against the government.

Rajapaksa's government was thrown into further trouble as 41 lawmakers walked out of the coalition as the government lost its majority in Parliament on Tuesday.

Sri Lanka's parliament is set to reconvene just days after President Gotabaya Rajapaksa declared a state of emergency in the country to combat the economic situation as protesters came out on the streets despite a nationwide curfew.

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