Curfew imposed in Sri Lanka as protests against economic crisis turn violent

Colombo: Sri Lanka is going through its worst economic crisis in decades and on Thursday (March 31), protests against the government's handling of the situation turned violent, with the Police imposing an overnight curfew in the capital Colombo. 

At least 10 people were injured including journalists after protests held outside the residence of Sri Lankan President Gotabaya Rajapaksa turned violent. Protesters, some clad in motorcycle helmets, dismantled a wall and hurled bricks at police, before setting a bus alight on a road leading to Gotabaya's residence, a Reuters witness said. A bus attached to the Sri Lanka Army and a jeep were set on fire by protesters. 

The island of 22 million people is experiencing rolling blackouts for up to 13 hours a day because the government does not have enough foreign exchange for fuel imports. The International Monetary Fund (IMF) will initiate discussions with Sri Lankan authorities on a possible loan programme in the coming days, a spokesman said on Thursday, as the government looks for a way out of the crisis.

The government is turning off street lights to save electricity, Power Minister Pavithra Wanniarachchi told reporters, as a continuing shortage of diesel brought more power cuts and halted trading on the main stock market. The power cuts add to the pain of Sri Lankans already dealing with shortages of essentials and rocketing prices.

The Public Utilities Commission of the island nation has announced that Sri Lanka will be witnessing 12-hour power cuts in several areas on Friday due to the lack of sufficient fuel to generate thermal power and water to generate hydropower. Sri Lanka has been already witnessing at least 10-hour daily power cuts. The country's currency has been also devalued by almost SLR 90 against the US dollar since March 8. 

Retail inflation hit 18.7% in March over the same period a year ago, the statistics department said on Thursday. Food inflation reached 30.2% in March, partly driven by a currency devaluation and last year`s ban on chemical fertilisers that was later reversed. Inflation was at its worst level in a over a decade, said Dimantha Mathew of First Capital Research. A diesel shipment under a $500 million credit line from India was expected on Saturday, Power Minister Pavithra Wanniarachchi said, though she added that would not fix the issue. Once that arrives we will be able to reduce load-shedding hours but until we receive rains, probably some time in May, power cuts will have to continue," she was quoted by Reuters, "There's nothing else we can do."

(With Agency inputs)

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