Sri Lankans bide time as leaders seek fix for economic woes

Colombo: Sri Lankans who have endured months of fuel and food shortages are bracing for more pain as a newly installed government scrambles to find solutions to the Indian Ocean nation's economic emergency. Like many others, fish monger Gamini Mallawarachchi says he is pinning his hopes on President Ranil Wickremesinghe 's ability to revive the Economy and restore stability after months of turmoil and protests. “Things are really, really bad now and my life is almost ruined,” said Mallawarachchi, who has given up on selling fish because he can't find fuel to get to the village where he used to buy it, and anyway his customers were buying less and less. Mallawarachchi said he views Wickremesinghe his “last hope.” “I think he will do something. With his experience and knowledge, I believe he has the capability,” said Mallawarachchi. “But, he must show some results before the end of this year, otherwise, he will also have to face protests from the people,” he said. Sri Lanka inched closer to ending its dire economic and humanitarian crisis with the July 20 appointment of Wickremesinghe's new government after months of protests and turmoil. But daunting hurdles lay ahead. Lawmakers backed him in extending a national emergency that gives the president broad powers to crack down on any violence. That may buy him time to try to reach a deal with the IMF on a requested USD3 billion bailout. On Saturday, Wickremesinghe said he has pushed back by a month his aim of getting an agreement by early August since talks with the IMF stalled amid political turmoil