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COLOMBO: Sri Lanka appointed a new prime minister on Thursday, as its embattled president seeks a way out of the country’s worst economic crisis since independence that has sparked widespread protests.

Ranil Wickremesinghe, a political veteran who has been prime minister of the island nation five times before, must try to address financial chaos and heal political divisions as he sets out to form a coalition government.

“We are facing a crisis, we have to get out of it,” Wickremesinghe told Reuters as he left a temple in the main city of Colombo shortly after his swearing-in. Asked whether there was a possible solution, he replied: “Absolutely.”

The 73-year-old is an economic liberal who has experience dealing with the International Monetary Fund, which is currently in discussions to bail out Sri Lanka.

He has also built relationships with regional powers India and China, key investors and lenders who vie for influence over the island nation that lies along busy shipping routes linking Asia to Europe.

President Gotabaya Rajapaksa congratulated the new premier.

Sri Lanka defence chief rules out military coup

My best wishes to the newly appointed PM ... who stepped up to take on the challenging task of steering our country through a very turbulent time,” he tweeted. “I look forward to working together with him to make Sri Lanka strong again.”

The current crisis could be Wickremesinghe’s greatest challenge yet. Economic mismanagement, the COVID-19 pandemic and rising energy costs following Russia’s invasion of Ukraine have drained state coffers, meaning Sri Lanka is running low on fuel and essential medicines and facing daily power blackouts.

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