In what seems a chilling warning to the country’s warring political parties, Central Bank of Sri Lanka governor has warned of disastrous consequences the country has to face if they fail to form a government in the country already ravaged by a severe economic crisis. Sri Lanka practically has no government in place since Mahinda Rajapaksa resigned as prime minister on Monday.

Addressing a press conference on Wednesday in the capital Colombo, Central Bank Governor Nandalal Weerasinghe said he had informed leaders of all political parties, including President Gotabaya Rajapaksa, that he would no longer hold the post if the instability continues for more than two weeks, reported Daily Mirror.

Hit by a severe economic crisis, Sri Lanka has been struggling to maintain law and order situations after violence erupted on Monday across several places in the country soon after a group of government supporters attacked peaceful protestors in Colombo.

In his press conference, the governor said that political stability was “paramount” and it was becoming extremely challenging to revive the economy in a country where the law and order situation was out of control.

The situation could get worse in the next two-three days if no government is formed, he warned, with people facing massive shortages of fuel and other essentials and power cuts as long as 10-12 hours.

Faced with massive shortages of foreign exchange reserves and shortages, the country approached the International Monetary Fund (IMF) last month and thereafter announced a default on all its external obligations, totaling around $51 billion. Currently, it is engaged with the IMF for a bailout package and debt restructuring plan.

On Wednesday, the governor hinted in his press conference, that he could not proceed with the IMF without having a legitimate government, prime minister, and finance minister. The country’s usable reserves, he warned, are hardly enough to cover a week’s of imports. (SAM)