Sri Lanka crisis: Central Bank Chief threatens to quit unless there is 'political stability'

Sri Lanka crisis: The country's Central Bank Governor Nandalal Weerasinghe warned that the economic crisis could get worse owing to growing political turmoil.

Colombo: Sri Lanka's economic situation will worsen if political stability is not achieved, the country's Central Bank Governor Nandalal Weerasinghe warned on Wednesday as the island nation continued to witness large-scale violence. Addressing a media briefing in Colombo, Weerasinghe said he has conveyed to President Gotabaya Rajapaksa and other political leaders that he would step down from the post, if the current political crisis is not solved in the coming weeks.

The central bank chief said that it was challenging to revive an economy in a country where law and order was not maintained, and reiterated that political stability was paramount, the Daily Mirror newspaper reported.

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He said if the current situation continues, things could get worse with prolonged power cuts, massive shortages of fuel and other essential items.

This comes as Prime Minister Mahinda Rajapaksa resigned on Monday as violence erupted in the country.