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Sri Lanka PM resigns as the country grapples with worst economic crisis

The Arabnews reported, Sri Lanka’s Prime Minister Mahinda Rajapaksa resigned on Monday (May 9), a government official has confirmed, as the island nation’s worst economic crisis since independence led to widespread protests against the ruling administration.
The South Asian country is on the brink of bankruptcy and has suspended payments on its foreign loans.
Sri Lankans, suffering from months of blackouts and dire shortages of essential items such as food and fuel, have been taking to the streets in largely peaceful protests demanding the government steps down.
On Monday (May 9), violent clashes erupted between supporters of Sri Lanka’s ruling party and anti-government protesters in Colombo, where police also fired tear gas and water cannons to drive back the demonstrators.
Effective immediately I have tendered my resignation as Prime Minister to the President.
— Mahinda Rajapaksa (@PresRajapaksa) May 9, 2022
අගමැති ධූරයෙන් ඉල්ලා අස්වීමේ ලිපිය ජනාධිපතිතුමා වෙත යොමු කළෙමි.
Rohan Wellivita, media secretary to the prime minister, told Arab News: “Prime Minister Mahinda Rajapaksa tendered his resignation from the premiership to the president in the afternoon on Monday."
In a copy of his resignation letter seen by Arab News, Rajapaksa said his government “is not solely responsible” for the economic crisis, adding that problems have been brewing since the country’s independence and “it got aggravated due to the COVID pandemic.”

Official Twitter account
The letter reads: “I am prepared to sacrifice my post for the betterment of the nation." It added that he was quitting to help form an interim, unity government.
The premier’s resignation, which means that the entire cabinet is dissolved, came after a day of chaos and violence that culminated in authorities imposing a nationwide curfew and the deployment of armed troops in the capital. According to reports, at least 138 people were wounded in the violence.
Sri Lanka declares state of emergency amid public protests
Until recently, President Gotabaya Rajapaksa and his ruling family have resisted calls to resign, with the government also facing a no-confidence motion in parliament. The president is the prime minister’s younger brother.
There will be 10-hour daily power cuts starting from Wednesday in Sri Lanka
Supporters of the Rajapaksa family, some reportedly armed with iron bars, attacked the anti-government demonstrators at the “Gota Go Gama” tent village that has become the focal point of nationwide protests. The violence marked the first major clash between the two camps since protests began in late March.
As anti-government protests continued to escalate, the president declared a state of emergency on Friday, which gave sweeping detention powers to the military and allowed him to make laws without parliamentary approval.
Sri Lanka arrests religious leader over deadly Easter attacks
Hit hard by the pandemic and rising oil prices, Sri Lanka had announced earlier this month that it was defaulting on its $51 billion foreign debt. Finance Minister Ali Sabry said last week that the country’s usable foreign reserves have plummeted below $50 million.
The report noted that the government is in talks with the International Monetary Fund for a bailout, and is set to continue discussions in a virtual summit with IMF officials this week aimed at securing emergency assistance.
Source: arabnews
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- April 17, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.
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