Sri Lanka business leaders demand end to political impasse

By BHARATHA MALLAWARACHI and ERANGA JAYAWARDENA
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lankan business leaders are calling for an end to political instability amid public demands for the president to resign over alleged economic mismanagement, warning that failure to do so would lead to economic catastrophe. Leaders from 23 business associations say they want lawmakers to “act responsibly and resolutely” to halt the rapidly deteriorating situation. The associations warned that their industries, which collectively earn around $16.7 billion annually through exports of merchandise and services, would come to a standstill if the current situation continues. The Indian Ocean island nation is experiencing its worst economic crisis in decades and is unable to pay for imports of basic supplies because of its huge debts and dwindling foreign reserves.