Who is in charge and what is the cause of Sri Lanka's protests?

Economic unrest in Sri Lanka has thrown the South Asian nation into instability, forcing its president to flee.

Here is a quick explanation of what is happening.

Source: CNN News

Why is there a protest?

According to observers, the economic catastrophe that has engulfed Sri Lanka was years in the making, with a number of government policies aggravating outside shocks.

The Sri Lankan government has financed public services during the past ten years by taking out significant loans from foreign lenders. The Sri Lankan economy has received a number of hammer blows along with this borrowing binge, including both natural disasters (such as intense monsoons) and man-made disasters (such as a government ban on chemical fertilizers that drastically reduced farmers' harvests).

Rajapaksa cut taxes in an unsuccessful effort to boost the economy while facing a huge deficit. However, the action backfired and actually reduced government revenue.

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What recently took place?

Since discontent over rising food prices, gasoline shortages, and power outages broke out in the streets of Sri Lanka in March as the nation battled to pay its debts, protests have been intensifying.

Tens of thousands of protestors gathered over the weekend in front of the president's office and home before breaching security barriers. In suspenseful video, protesters were seen swimming in the president's personal pool.

Minutes before protestors stormed Rajapaksa's home, Sri Lanka's security forces whisked him away to a naval vessel, a senior military source said CNN on Sunday. Then, on Wednesday, he and his wife left the nation and arrived in the Maldives.

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Who is now in charge?

According to sources, Rajapaksa was scheduled to formally resign on Wednesday when Mahinda Yapa Abeywardena, the speaker of parliament, summoned an emergency meeting. On Twitter, Wickremesinghe announced his resignation in order to "ensure the continuation of the government, including the safety of all citizens."

But before taking a formal resignation, he left the nation. He then named Ranil Wickremesinghe, the prime minister, to succeed him as president.

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What follows?

There is no indication that the disturbance will end until the demonstrators get their wish for the entire government to step down.

Father Jeevantha Peiris, the protest's organiser, said on Tuesday, "We want to warn President Gotabaya Rajapaksa, Prime Minister, and this entire government that 13th is the last day for you to be in power."

"Thousands of demonstrators are currently making their way into Colombo. If such a shift does not occur by tomorrow, protests, strict action, and the strength of the people will once again be used to demonstrate how the people's struggle that brought about this revolution was successful.

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