As Sri Lanka faces the biggest economic crisis, the value of their currency has declined sharply against the dollar. The foreign debt on the country is continuously increasing. The prices of food items are sky high while the country is facing hours of power cut everyday.
There is a huge shortage of medicines in the country. Sri Lanka's national medical association warned Thursday that hospitals will be unable to provide even emergency services in coming weeks because of critical shortages of drugs and medical equipment caused by the country's economic crisis, leading to a catastrophic number of deaths if supplies aren't replenished.
The Sri Lanka Medical Association sent a letter to Gotabaya Rajapaksa on Thursday saying that hospitals have already decided to curtail services such as routine surgeries and limit the use of available medical materials to treatment of life-threatening illnesses.
Read | Chaos for food, drinks and fuel in Sri Lanka amid long power cuts
"Unless supplies are urgently replenished, within a matter of weeks, if not days, emergency treatment will also not be possible. This will result in a catastrophic number of deaths," the letter read. Meanwhile, Sri Lanka will ask for a loan from the International Monetary Fund (IMF). Along with this, Sri Lanka has also prepared to take loan from Asian Development Bank (ADB) and World Bank.
Thousands of people, including health workers, have been demonstrating this week demanding a solution to the crisis and Gotabaya Rajapaksa's resignation for economic mismanagement.
5 updates from Sr Lanka crisis
1. A three-member advisory committee of financial experts has been formed to negotiate with the IMF for a bailout package. Former Governor of Central Bank of Sri Lanka Indrajit Kumaraswamy has been included in this committee. The committee has also been asked to suggest measures to overcome the debt crisis. Meanwhile, the Asian Development Bank has projected a marginal improvement in Sri Lanka's economic growth to 2.5% in 2022.
2. Former minister and MP Champika Ranawaka said on Thursday that the Rajapaksa family has fully looted the country. During their tenure from 2004 to 2014, they embezzled USD 19 billion.
3. After the Opposition's allegations, minister Johnson Fernando has said that the President Gotabaya Rajapaksa will not resign under any circumstances. The Gotabaya government is in majority and is trying to handle the crisis in the country.
4. Ali Sabri, who quit as finance minister just a day after his appointment, advised the government in Parliament on Thursday to address the current crisis under any circumstances. He said that the government should negotiate with the World Bank and Asian Development Bank (ADB) to take loans to remove the debt, so that the situation in the country comes under control.
5. After the deteriorating situation in Sri Lanka, India is continuously helping its neighbour. On Thursday, Tamil Nadu Chief Minister MK Stalin sought permission from the Centre to send essential items like rice and essential medicines to Sri Lanka.
(With Agency Inputs)
