As Sri Lanka tackles contemporary chaos, IMF boss's warning on international debt| High 10 | World News

Scenes rising from Sri Lanka but once more raised international issues this weekend as demonstrators stormed the palace of Gotabaya Rajapaksa whereas the president reportedly fled. After having ignored requires his resignation for a number of months, he lastly introduced that he would step down on July 13 (Wednesday). Simply hours earlier than, Sri Lanka PM Ranil Wickremesinghe had declared the choice to stop. However questions stay over the way forward for the island nation of twenty-two million, tackling its worst-ever financial disaster within the historical past of seven many years.

Listed below are ten updates on the Sri Lanka disaster:

1. Sri Lanka’s contemporary chaos has triggered sturdy reactions from the IMF boss and a warning to G20 nations on international debt. "It is a subject we can't have complacency on. If belief is eroded to a degree that there's a downward spiral, you do not know the place it will finish. G20 leaders do not need to be in a scenario by which that challenge dominates the dialog simply because we don't make progress,” Kristalina Georgieva, the managing director of the worldwide lender was quoted as saying in a report by Reuters.

2. Sri Lanka reportedly has over $50 billion in debt. Of this, it must pay $28 billion by 2027. The nation has been struggling to make sure provide of gas and different necessities for its folks.

3. The opposition on Sunday met, eyeing formation of a brand new authorities as two high leaders have introduced their exit. One of many lawmakers on Sunday stated they've numbers of their favour.

4. In the meantime, scenes emerged from the palace of Gotabaya Rajapaksa the place protesters might be seen utilizing swimming pool and all the opposite amenities as troops stood afar and didn't cease them, in response to stories. A number of the locals stated they have been appalled on the president dwelling in luxurious whereas residents struggled with blackouts.

5,. Sri Lanka’s ministry of defence has denied rumours of motion on Galle Face protesters. “There isn't a such try and assault or disturb 'the Aragala Bhumiya' as falsely circulating in social media now. The Chief of Defence Employees Common Shavendra Silva categorically denies the falsely fabricated info,” Ministry of Defence Spokesman stated, native media reported. Protesters have been agitating at Galle Face close to president’s workplace ever since disaster unfolded earlier this 12 months.

6. U.S. Secretary of State Antony Blinken has stated that the US was monitoring the developments in Sri Lanka as he urged Parliament to work rapidly to implement options and handle the folks's discontent.

7. In the meantime, India has been continually supporting the neighbour nation amid the challenges. On Sunday, international minister S Jaishankar stated that India has up to now dedicated $3.8 billion.

8. "India stands with the folks of Sri Lanka as they search to grasp their aspirations for prosperity and progress by democratic means and values, established establishments and constitutional framework," Exterior Affairs Ministry Spokesperson Arindam Bagchi stated, in a fastidiously crafted assertion.

9. "India is Sri Lanka's closest neighbour and our two nations share deep civilizational bonds. We're conscious of the numerous challenges that Sri Lanka and its folks have been dealing with, and we've got stood with the Sri Lankan folks as they've tried to beat this troublesome interval," it added.

10. Pope Francis too has urged for a speedy decision. “I unite myself to the ache of the folks of Sri Lanka, who proceed to undergo the results of the political and financial instability,’’ the pontiff stated. “Along with the bishops of the nation, I renew my attraction for peace, and I implore those that have authority to not ignore the cry of the poor and the wants of the folks.’’

(With inputs from AP, Reuters)