What are the challenges for Sri Lanka's new PM amid economic crisis?

Amid the ongoing political turmoil in Sri Lanka risen by the fall of the government, Ranil Wickremesinghe was sworn in as Prime Minister of the island nation on May 12.

It will not be simple for Wickremesinghe to sit on an iron throne amid the severe economic catastrophe, but will be a challenging assignment for the newly-appointed prime minister to end the dire situation in Sri Lanka because the island nation is facing its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts affecting a large number of the citizens.

At the same time, the country continues to reconcile with the International Monetary Fund to bail out its struggling economy. The appointment of Wickremesinghe comes hardly as a shock to Colombo observers as no politician wants to take the hot seat of PM at a time when the nation is facing violent public protests over the mismanagement of the economy by the Rajapaksas.