General News of Tuesday, 12 July 2022
Source: www.ghanaweb.live
2022-07-12'Events in Sri Lanka should make any leader overseeing a failed economy quake' - Franklin Cudjoe
Franklin Cudjoe, Founding President of Imani Africa
Sri Lankans trigger mass revolution over collapse of economy
President and Prime Minister forced to resign
Protesters occupy official residences of President, Prime Minister
Sri Lanka, the island nation in the Indian Ocean off the southeastern coast of India has been in the news following a People’s Revolution that ousted the President and Prime Minister of the country.
Thousands of locals protesting general high
Read full article.cost of living amid a deteriorating economy stormed the official residences President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe over the weekend.
The images from the mass action has been beamed across the world as locals treated themselves to the presidential swimming pool, slept in the President's bed and ate from his kitchen whiles others also worked out in the gym.
The lessons from the Sri Lankan revolution especially on social media has been that any government that pushes its people too far will have to bear their wrath be it through the polls or via a revolution.
Founding President of policy think tank, IMANI Africa, Franklin Cudjoe commenting on the incident via a July 11 social media post said, events in Sri Lanka should concern any leader overseeing a failed economy.
"Events in Sri Lanka should make any leader overseeing a failed economy quake in his boots," he posted.
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In another Sri Lanka-related post, he zoomed in on the Nana Addo Dankwa Akufo-Addo-led government, tasking the government among others to refunds salaries of three years and take an over 50% pay cut in light of economic downturn.
"For going to the IMF, the President and ministers should refund 50% of all salaries earned in the past 3 years. Also reduce current salaries by 60% & STOP ex-gratia payments No more private jets! Remember Sri Lanka!" his post read.
Government on July 1 opted to turn to the International Monetary Fund, IMF, for an economic rescue programme, after it emerged that the main revenue measure by way of the Electronic Transfer Levy (E-Levy) had failed to meet expected revenue inflows.
An IMF team arrived in Accra last week and has been holding talks with government representatives.
Over in Sri Lanka, the President and Premier have since announced their resignations following the upheaval and even as protesters refuse to abandon the residences that they have occupied since last weekend.
The resignations mark a major win for protesters, but the future of the country's 22 million people is uncertain as they struggle to buy basic goods, fuel and medicine, a CNN report noted.
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