Colombo [Sri Lanka], April 7 (ANI): Former Power Minister of Sri Lanka, Patali Champika Ranawaka, on Thursday said that the Rajapaksa family is fully responsible for the worst economic crisis of the island nation.

"Rajapaksa family clan totally responsible for the crisis," Ranawaka said while elaborating that 78 per cent of the total debt owed by Sri Lanka occurred during the rule of the Rajapaksas.

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"The Rajapaksa clan is an oligarchy, they robbed this country. During their tenure between 2004-2014, they siphoned off USD 19 billion, as per the reports from the various agencies, and now we are suffering," Ranawaka said speaking to ANI.

Talking about India's assistance to Sri Lanka, the former Minister said that India should not provide a lifeline to the Rajapaksa family.

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"Please do not give a lifeline to the Rajapaksa's family which robbed Sri Lanka's wealth," Ranawaka said adding that the family had blamed India in 2015 for the loss of Mahinda Rajapaksa during presidential elections.

"Please don't support this corrupt and totally unpopular government," he further said adding that it might create anti-India sentiments in Sri Lanka.

Talking about the ongoing economic crisis, he said, "They (Rajapaksas) got a huge amount of money from international financial markets, international sovereign bonds, and Sri Lanka development bonds, and now we are in a serious problem to repay these short term loans."

"These short term loans were used to build long term projects like highways, expressways, ports, airports, which are not financially or economically viable," he added.

Saying that the country is facing an energy crisis, with a shortage of fuel, cooking gas and long electricity cuts, he said that "the financial crisis led to an economic crisis, then to the energy crisis and now, we are experiencing kind of a political crisis, there in the parliament and the political arena as well."

Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation. The economy has been in a free-fall since the onset of the COVID-19 pandemic.

Sri Lanka is also facing a foreign exchange shortage, which has, incidentally, affected its capacity to import food and fuel, leading to the power cuts in the country. The shortage of essential goods forced Sri Lanka to seek assistance from friendly countries. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)