Early in 2022, Sri Lanka’s inflation shot through the roof as its foreign reserves depleted, supplies of food, medicine, and fuel ran low and resulted in power outages that lasted up to 13 hours for residents. This led to the biggest economic crisis the nation had experienced since independence.

Many blamed Mr. Rajapaksa, the former president, and his family. The Rajapaksa family was charged with corruption and embezzling public funds in addition to their catastrophic economic policies, which were to blame for the shortage of foreign currency. However, the Rajapaksa family denies any complicity and ascribes the issue to other factors, including the steep decline in tourism revenue caused by the virus and the high cost of petroleum following Russia’s invasion of Ukraine.

Weeks later, in extraordinary scenes, protestors stormed the presidential palace to remove Mr. Rajapaksa from office. When the demonstrators broke into the palace, Mr. Rajapaksa wasn’t there. As a result, they made themselves at home and seized everything from bed linens to books as “souvenirs.”

A few months ago, the decline of the Rajapaksa family would have been unimaginable. The politically influential family gained notoriety in May 2009 when it routed the Tamil Tiger insurgents, putting an end to the nation’s 25-year civil conflict. A year later, the Rajapaksas and several other politicians who were singled out by the public are back in the country – and in positions of power. In contrast, the demonstrators are now in danger.

Veteran opposition politician Ranil Wickremesinghe was chosen as the country’s new leader in a parliamentary vote after Mr. Rajapaksa left the country. He enjoyed the support of Mr. Rajapaksa’s party, which won a resounding victory. The military was sent in to help clear the throng at Galle Face a few hours after Mr. Wickremesinghe was elected. Dozens of soldiers demolished the protesters’ tents and other belongings as they swooped down on the area. Many demonstrators resumed their usual lives after Mr. Rajapaksa was removed from office and the new administration moved to address the severe shortage of petrol and other necessities. In the end, most devoted protesters were removed from the protest places by the authorities using force and all legal and penal tools at their disposal.

Mr. Rajapaksa and his brother Basil, who had also left the country, arrived back a few weeks later. While several of the members of his cabinet have been reinstated, the former president now resides in a luxurious government bungalow.

Although tourism and remittances from Sri Lankan workers abroad are coming up again, the nation still has a long way to go.

It will be difficult for Sri Lanka to repay its approximately $80 billion debt, both domestic and foreign. Colombo is negotiating a debt restructuring plan with creditors to reach an agreement by September. The government wants to write off 30% of investors’ capital in bonds denominated in dollars.

As a result, despite the economic and social situation being critical, the political status quo was not affected and the former president still is in a position of power.