Acting President Ranil Wickremesinghe declares a state of emergency in Sri Lanka.

State of emergency in Sri Lanka: Sri Lanka’s acting President Ranil Wickremesinghe told CNN in an interview on Monday that Gotabaya Rajapaksa’s government was covering up “facts” about the financial crisis and was not telling the truth about Sri Lanka’s bankruptcy. He added his goal is to stabilize Sri Lanka’s devastated economy by the end of 2023. “Let’s start stabilizing by the end of next year, and certainly by 2024 have a functioning economy that will start to grow,” Wickremesinghe told CNN.

India wishes the ongoing transition in Sri Lanka not only be “smooth” but also help the island nation achieve an “early and effective” economic recovery, Indian High Commissioner in Sri Lanka Gopal Baglay told Monday The Indian Express. To that end, India, which has helped Sri Lanka with nearly $4 billion in aid, would like to bring “more investment” “in the future” to help the country build capacity to respond to economic challenges, he said Baglay.

Meanwhile, Wickremesinghe has declared a state of emergency in the country, according to a government notice released late Sunday night, Reuters reported, as the current government works to deal with social unrest and the economic crisis. “This is useful in the interests of public safety, the protection of public order and the maintenance of the supply and care essential to social life,” the statement said.