Without goodwill among the public, the new government is unlikely to survive the pain it is about to inflict in order to return the country to some semblance of economic stability
Save time by listening to our audio articles as you multitaskThe new government had other ideas. Not long after, in the early hours of July 22nd, soldiers and police in riot gear evicted the remaining protesters from the building, tore down their tents outside and put up metal barricades. They arrested several protesters and injured a handful badly enough to send them to hospital.
Fixing the mess will be extremely difficult. The immediate concern for Mr Wickremesinghe’s government is addressing its The impact of monetary tightening will be compounded by similar policies on the fiscal side. To fulfil the conditions of theprogramme, the government will be forced to cut spending and raise taxes. A pay freeze in the public sector and stays on infrastructure investment may curtail spending, but deep cuts will be difficult given that expenditure on welfare payments will have to rise to cushion the impact of the crisis. So the main emphasis is likely to be on raising revenue.
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