Sri Lankan Economic Crisis: Violence Marred Protest Outside President's House Leaves 50 Injured

© REUTERS / DINUKA LIYANAWATTEDemonstrators react after they set a fire to a bus parked at the top the road to Sri Lankan President Gotabaya Rajapaksa's residence during a protest against him as many parts of the crisis-hit country faced up to 13 hours without electricity due to a shortage of foreign currency to import fuel, in Colombo, Sri Lanka March 31, 2022
Demonstrators react after they set a fire to a bus parked at the top the road to Sri Lankan President Gotabaya Rajapaksa's residence during a protest against him as many parts of the crisis-hit country faced up to 13 hours without electricity due to a shortage of foreign currency to import fuel, in Colombo, Sri Lanka March 31, 2022 - Sputnik International, 1920, 01.04.2022
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Sri Lanka is looking for a bailout from the International Monetary Fund (IMF) and has also sought help from India and China. Since the beginning of 2022, petrol prices in the country have increased by 92 percent and diesel costs have risen 76 percent.
At least 50 people, including journalists, were left with injuries while participating in an overnight protest outside the residence of Sri Lankan President Gotabhaya Rajapaksa on Thursday.
Dozens of demonstrators had converged outside the president's residence amid rising anger over the government's handling of the nation's deepening economic crisis.
But the protest turned violent when some of the agitated civilians stormed through barricades and allegedly set fire to a bus.
Police fired tear gas and water cannons, and beat the protesters.
Later, it prompted authorities to put in place an overnight curfew. It was applied within the Colombo North, South, Colombo Central, Nugegoda, Mount Lavinia and Kelaniya Police Divisions.
The curfew was, however, lifted on Friday morning.
In videos shared over social media, the crowd can be heard shouting "lunatic, go home", they were reportedly demanding the resignation of Rajapaksa and his entire cabinet.
The Rajapaksa government, which came in power in 2019, is now being accused of corruption and nepotism, with the president's brothers and nephews occupying several key ministerial portfolios.
The island nation is witnessing one of the worst economic crises in decades in recent years.
According to the local media report, many parts of the country are struggling with rolling power cuts for up to 13 hours due to a shortage of foreign currency to import fuel. The president and his ministers are exempt from the power cuts, angering citizens.
Food and fuel have become almost unaffordable, and in the absence of foreign currency, the country is finding it difficult to import essential commodities.
According to the BBC, foreign reserves that stood at $7.6 bn (£5.8 bn) at the end of 2019 have now fallen to $2.3 bln; of those reserves, usable reserves have fallen to some $300 mln.
The value of the Sri Lankan rupee has fallen by almost 50 percent in March, from around 200 Sri Lankan rupees to the dollar to 292 on 26 March.
© Photo : TwitterSri Lanka Inflation
Sri Lanka Inflation  - Sputnik International, 1920, 01.04.2022
Sri Lanka Inflation
Earlier in March, at least five senior citizens died while waiting in long queues to buy fuel; the price of cooking gas has spiked by up to 60 percent in past three months. Authorities have been forced to cancel school examinations for millions of students due to a paper shortage.
NGOs and opposition leaders have called for another demonstration on Sunday morning.
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