US dollar surging means we will see more countries then Sri Lanka start folding as they can’t pay their US bond debt. Typically a peaceful country 90% Buddhist.
Thousands of protesters in Sri Lanka’s commercial capital of Colombo barged through police barricades and stormed President Gotabaya Rajapaksa's house on Saturday as part of an anti-government demonstration brought on by the country's economic collapse.
Some protesters were carrying Sri Lankan flags and helmets as they broke into the president’s residence, according to video footage from local TV station NewsFirst.
The country, consisting of about 22 million, is suffering from a severe foreign exchange shortage, which has limited essential imports of fuel, food and medicine. This shortage has pushed the island into its worst financial situation in 70 years.
Rajapaksa has been blamed by many for the country's economic decline. Protests have taken place since March in which demonstrators have demanded the president's resignation. Saturday's protest is believed to be one of the biggest anti-government marches this year.
Protesters try to remove a tear gas shell after it was fired by police to disperse them in Colombo, Sri Lanka, Saturday, July 9, 2022. Sri Lankan protesters demanding that President Gotabaya Rajapaksa resign forced their way into his official residence on Saturday, a local television report said, as thousands of people took to the streets in the capital decrying the island nation's worst economic crisis in recent memory.
Protesters try to remove a tear gas shell after it was fired by police to disperse them in Colombo, Sri Lanka, Saturday, July 9, 2022. Sri Lankan protesters demanding that President Gotabaya Rajapaksa resign forced their way into his official residence on Saturday, a local television report said, as thousands of people took to the streets in the capital decrying the island nation's worst economic crisis in recent memory.
According to a witness, thousands of demonstrators forced their way into Colombo’s government district, breaking multiple police barricades before reaching Rajapaksa’s residence.
Police fired shots in the air but failed to halt the protestors from surrounding the president's house, the witness said.
A severe shortage of fuel on the Asian island has stalled transportation services, but demonstrators still rode on buses, trains and trucks from different areas of the country to reach Colombo to protest the government’s economic failures.
The impoverished country in recent weeks has stopped receiving fuel shipments, which has forced school closures and limited petrol and diesel for services deemed essential.
The country has been hit with massive fuel shortages and high inflation levels. Sri Lanka's inflation hit 54.6% in June.
