A human rights group has filed a criminal complaint with Singapore’s attorney general to seek the arrest of Sri Lanka’s former president Gotabaya Rajapaksa for alleged war crimes.
Mr Rajapaksa, who fled to Singapore this month after he was ousted from office over Sri Lanka's economic collapse, was defence minister during the country’s civil war, which ended in 2009.
The International Truth and Justice Project (ITJP), an evidence-gathering organisation administered by a South Africa-based non-profit foundation, said on Sunday that its lawyers had filed the complaint requesting his immediate arrest.
The complaint alleges Mr Rajapaksa committed grave breaches of the Geneva Conventions during the civil war “and that these are crimes subject to domestic prosecution in Singapore under universal jurisdiction”.
Sri Lanka’s economic crisis has left the nation’s 22 million people struggling with shortages of essentials, including medicine, fuel and food.
Months of protests have focused on the Rajapaksa political dynasty, which has ruled the country for most of the past two decades.
“The economic meltdown has seen the government collapse, but the crisis in Sri Lanka is really linked to structural impunity for serious international crimes going back three decades or more,” ITJP executive director Yasmin Sooka said.
The UN conservatively estimates that the civil war killed 100,000 people but the actual number is believed to be much higher.
A report from a UN panel of experts said at least 40,000 ethnic minority Tamil civilians were killed in the final months of the fighting alone.
Tamil Tiger rebels fought to create an independent state for ethnic minority Tamils.
The country’s ethnic Sinhala majority credited Mr Rajapaksa and his elder brother Mahinda Rajapaksa with the war victory, cementing the family’s political dominance.
Efforts to investigate allegations of war crimes were largely suppressed under the Rajapaksas.
After Gotabaya Rajapaksa fled the country earlier this month, politicians elected Ranil Wickremesinghe to serve the remainder of his presidential term.
He declared a state of emergency with broad powers to act to ensure law and order, and a day after he was sworn in, hundreds of armed troops raided a protest camp outside the president’s office, attacking demonstrators with batons.
Rights groups have urged Mr Wickremesinghe to immediately order troops and police to cease using force and said last week's display seemed to follow a pattern of Sri Lankan authorities forcefully responding to dissent.
The political turmoil has threatened Sri Lanka’s potential for economic recovery.
Mr Wickremesinghe recently said bailout talks with the IMF were nearing a conclusion.
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How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
About Krews
Founder: Ahmed Al Qubaisi
Based: Abu Dhabi
Founded: January 2019
Number of employees: 10
Sector: Technology/Social media
Funding to date: Estimated $300,000 from Hub71 in-kind support