The Crisis in Sri Lanka: 13 Leaders, Including the Rajapaksa Brothers, Held Accountable

Gotabaya Rajapaksa and his brother Mahinda, former presidents of Sri Lanka, along with 11 other officials, have been held responsible for the country's worst-ever financial crisis by the top court. The ruling stated that their actions and conduct contributed to the crisis, which led to soaring inflation, depleted foreign reserves, and shortages of fuel, food, and medicine in 2022. The crisis sparked massive public protests, resulting in the downfall of Gotabaya Rajapaksa, who subsequently fled the country. However, he returned after a new government, supported by his party, initiated negotiations with the International Monetary Fund (IMF) for a bailout. The court's decision, though not imposing any penalties, may pave the way for further legal action. The case was filed by Transparency International Sri Lanka and other activists. The majority verdict concluded that the leaders violated the fundamental rights of Sri Lankans by mishandling the economy. Transparency International Sri Lanka stated that the respondents cannot evade responsibility by claiming that their decisions were merely policy choices, as they had full knowledge and authority to prevent such a calamity. The crisis had severe consequences, including prolonged power cuts, and the country declared bankruptcy. Despite securing a $3 billion bailout from the IMF, Sri Lanka still struggles to recover from the crisis. The nation's foreign debt stands at $46.9 billion, with 52% owed to China, its largest lender.