Sri Lanka Crisis: After the resignation of Prime Minister Mahinda Rajapakshe, it was decided to keep the stock exchange closed a day after unprecedented violence and political crisis in Sri Lanka.
Sri Lanka deployed thousands of troops on Tuesday after violent clashes and demonstrations and a nationwide curfew is in place. Five people, including an MP, were killed and 200 were injured in the violence on Monday after a major economic crisis. Prime Minister Mahinda Rajapaksa resigned on Monday, but this did not help much in pacifying the public’s anger. At the end of the day, thousands of anti-government protesters torched Mahinda Rajapaksa’s house in the capital Colombo.
The police had to release tear gas and opened fire in warning. The army saved Mahinda Rajapaksa safely.
Colombo Stock Exchange (CSE) has declared a holiday on Tuesday due to settlement difficulties amid severe economic crisis in Sri Lanka. Earlier the stock market was closed for almost a week.
The decision was taken a day after unprecedented violence and political crisis in Sri Lanka following the resignation of Prime Minister Mahinda Rajapaksa.
CSE said in a circular, “Colombo Stock Exchange has been informed that the Real Time Gross Settlement (RTGS) system of the Central Bank of Sri Lanka will not function today (10 May 2022).”
The circular further said that in such a situation, the Central Depository System (CDS) of CSE will not be able to do fund settlement and securities settlement on 10 May 2022.
According to the circular, “In these circumstances, CSE has declared a holiday in the market today (May 10, 2022).”
Credit: ndtv.in /