Sri Lanka: New President Reveals Massive Coverup of Financial Crisis

Ranil Wickremesinghe, acting President of Sri Lanka, disclosed that his predecessor's government covered up the truth about the country's dire economic situation.

Wickremesinghe told CNN Monday that the administration of former president Gotabaya Rajapaksa kept the truth that Sri Lanka was "bankrupt" and must seek assistance from the International Monetary Fund (IMF).

Sri Lanka's interim president said he "would like to tell the people I know what they are suffering."

Wickremesinghe said: "We have gone back. We have to pull ourselves up by the bootstraps. We don't need five years or 10 years. By the end of next year let's start stabilizing, and certainly by 2024 let's have a functioning economy which will start growing."

Wickremesinghe stated that Rajapaksa had spoken to him since he left Sri Lanka for the Maldives before heading to Singapore. Wickremesinghe admitted that he is uncertain of the former leader's whereabouts, including whether he is still in Singapore or not.

Sri Lanka To Choose Next President This Week

As the parliament prepares to choose a new president on Wednesday, Wickremesinghe is now seeking to become Sri Lanka's next leader amid the Sri Lanka Crisis.

The incumbent Sri Lanka Podujana Peramuna political party supports the former six-term prime minister, who will compete against at least three other contenders.

Former Sri Lanka president Gotabaya Rajapaksa has been replaced by three contenders after quitting his position and leaving the nation last week as a result of the Sri Lanka Crisis, which sparked massive protests.

During a Tuesday's brief session, the parliament announced that the opposition-backed candidate Dullas Alahapperuma and Marxist party leader Anura Kumara Dissanayake would compete against Acting President Ranil Wickremesinghe in the vote to be held on Wednesday, as per an Al Jazeera report.

Sajith Premadasa, who had been the opposition's candidate and was most certainly the front-runner, withdrew from the campaign.

Negotiations For Financial Bailout Almost Done

Meanwhile, Ranil Wickremesinghe declared on Monday that negotiations for a bailout with foreign lenders were nearly finished.

Wickremesinghe's office stated: "The acting president further explained that negotiations with the IMF were nearing conclusion, and discussions for assistance with foreign countries were also progressing."

As Sri Lanka continues to experience a grave economic crisis, Wickremesinghe issued a state of emergency late on Sunday. The action tries to quell dissent before this week's parliament vote to choose a new president.

Sri Lanka is looking to the IMF and other institutions for a financial rescue package. However, top authorities claim that the nation's finances are so dreadful that even obtaining a bailout has been challenging. The IMF has not responded to Wickremesinghe's remark.

The acting president said that people were receiving relief and that measures were being taken to reduce fuel and cooking gas shortages.

But he said that "elements within society" were the root of the disturbance. He declared that anarchy would not be allowed to impede the nation's development.

According to Wickremesinghe, the government would listen to peaceful demonstrators with legitimate complaints. To allow the nation to recover from the economic crisis, he asked political parties to set aside their differences and form "an all-party government," Voa News reported.

Since April, the government of Sri Lanka has issued numerous emergency declarations. At that point, demonstrations against the government's response to the financial crisis and shortage of essential products began.