Sri Lanka Original Narrative Summary: 25/02

Date:

  1. Elections Commission says the LG Election will not be held on 9th March: new date to be notified on 3rd March, 2023.
  2. Former CB Governor Ajith Nivard Cabraal says multilateral lenders IMF, World Bank & ADB who enjoy the status of “Senior Creditors” must also have their loans restructured like other bilateral and commercial creditors, in any sovereign debt re-structuring exercise: also says he urged IMF top management in March 2020 to grant a moratorium of at least one year on all emerging nations’ debt due to “Senior Creditors” at the onset of the Covid-19 pandemic: laments that was not done, unfortunately.
  3. Finance officials from China and US to discuss debt and other issues today: the US has repeatedly criticized China’s stance in relation to debt relief for low and middle-income countries including Sri Lanka: meanwhile, the US-backed “Senior Creditors” IMF and World Bank have been reluctant to grant any concession whatsoever to debt-distressed countries.
  4. State Minister Lasantha Alagiyawanna appointed as the Chairman of the Committee on Public Accounts (COPA).
  5. IUSF convenor Wasantha Mudalige and 62 others who were arrested for focibly entering the Education Ministry, remanded until 26th February.
  6. New Central Bank Bill published: under the new law, the Central Bank to have “administrative & financial autonomy”: provides for a “Governing Board” to oversee management with the Governor as Chairperson and 6 others who have expertise in economics, banking, finance, accounting & auditing, law or risk management.
  7. President Ranil Wickremesinghe announces plans to make Sri Lanka a year-round tourist destination: also outlines program to attract over 2 mn tourists including those spending USD 500 per day: says Committee appointed to implement plan: stresses importance of better and positive publicity.
  8. President Ranil Wickremesinghe says Bar Association President, Saliya Pieris should not be representing the Election Commission in cases related to the LG poll as Pieris is a “political’ lawyer.
  9. Self-proclaimed SJB Economic Guru Harsha Silva claims he had been “illegitimately removed” as Chairman of COPF as he had become a headache to a “bunch of rogues” in a “bankrupt nation”: previously, Silva was at the forefront in demanding that the Govt defaults on ISB debt, which had massive “cross-default” consequences.
  10. GMOA spokesman Dr. Chamil Wijesinghe says the Govt is planning to reduce the salaries of those in the health sector by 15%: alleges the Health Secretary has issued a circular instructing the reduction: emphasises the entire health sector is in crisis.

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