Economic woes brewing for Sri Lanka

Amid the economic and political turmoil in Sri Lanka, experts say the country's Tamil minority, who paid a heavy price during the civil war, feel victimized all over again. Some are fleeing to Tamil Nadu in India.

The speaker of Sri Lanka's parliament has said he accepted a letter of resignation from President Gotabaya Rajapaksa. PM Wickremesinghe has been sworn in as the interim president until lawmakers choose a new one.

Sri Lankan lawmakers met to begin the process of choosing a new leader amid tightened security. They are set to hear nominations Tuesday to replace former President Gotabaya Rajapaksa, who resigned earlier this week.

As Sri Lanka's protest movement reaches 100 days, the people proudly and defiantly said that their fight is not over. Indeed, in addition to political uncertainty, the country faces a long list of problems, with years of mismanagement coupled with external shocks. The coronavirus pandemic has battered the tourism industry, and the war in Ukraine has contributed to soaring inflation. On the ground, there are also long queues for food and fuel. For more, we speak to France 24's correspondent Navodita Kumari in Colombo.

The new president will need to lead the island nation out of a deep political, economic and humanitarian crisis that toppled the previous leader. However, Wickremesinghe faces widespread public opposition.

A bailout from the International Monetary Fund will be critical in stabilizing Sri Lanka's finances but critics say the Indian Ocean island needs to tackle food insecurity and political instability first.

Sri Lankan armed forces have moved to dismantle the main camp set up by anti-government protesters in the Sri Lankan capital, Colombo. Hours later, an ally of the Rajapaksa family was tapped as prime minister

Sri Lanka is still struggling with the scars of its civil war. The conflict broke out in 1983 pitting government forces against Tamil militants. The LTTE were fighting for an independent state for the minority Tamils. They were defeated in 2009, but at a huge human cost. Today, at least 20,000 people remain missing. We go to northern Sri Lanka, where survivors continue to look for their families.

German businesses have been losing confidence in the current economic climate as growth prospects worsen. The ifo Institute that published the survey pointed to high energy prices.

Economic instability has Indian investors and exporters worried about receiving payments. The Indian government is doing what it can to help keep essential goods moving.

As unrest over the economic crisis continues, lawmakers have extended the executive's emergency powers. Meanwhile, Singapore extended former Sri Lankan President Gotabaya Rajapaksa's permission to stay.

Sri Lanka has granted permission for the Chinese space-tracking vessel Yuan Wang 5 to dock at a port that China runs. The Hambantota port is the southernmost in Sri Lanka and has raised the concern of India.