- Chinese PM Li Keqiang says China is open to participating in multi-lateral efforts to help heavily indebted nations such as Sri Lanka: also says all sides should share “equitable burden”: Chinese Foreign Minister Qin Gang criticises multi-lateral lenders for not accepting losses or haircuts on loans to low-income countries like Sri Lanka while Beijing is being asked to do so: many analysts now increasingly believe that the so-called “senior creditors” – IMF, WB & ADB – must also bear the burden of re-structuring.
- Supreme Court issues order to Treasury Secretary Mahinda Siriwardene preventing him from withholding funds allocated for elections via the Budget 2023: also decides to hear petition filed by SJB General Secretary Ranjith Madduma Bandara seeking the release of funds allocated for the LG Polls via the Budget.
- IMF says tax reforms were needed in Sri Lanka “to correct imbalance of tax revenue & expenditure”: also says reforms helped to “regain confidence of creditors”: analysts say additional taxes collected have been far less than the additional interest paid by the Govt on Govt Securities, while business confidence and growth have plunged.
- Sri Lankan Rupee “fixed” at a buying rate of Rs.334.50 & selling rate of Rs.348.03: middle rate “fixed” at Rs.346.17: bankers say the recent appreciation of the LKR is based on the simple “fixing” of the Rupee parity daily at a new value via an order from the CB Governor Nandalal Weerasinghe.
- SriLankan Airlines flight from Guangzhou, China carrying 115 Chinese tourists arrives for the first time after the Covid-19 pandemic: thrice weekly service each to Shanghai, Beijing & Guangzhou to be operated by SriLankan Airlines from April onwards.
- Monetary Board increases the Standing Deposit Facility Rate and the Standing Lending Facility Rate by a further 100 basis points to 15.50% & 16.50% respectively: analysts puzzled as the CB has recently claimed inflation has reduced from 79% to 50% and that “the economy has stabilized”.
- CB Governor Nandalal Weerasinghe says all required “prior actions” with the IMF are now completed and that the country stands ready to unlock the IMF programme, hopefully, this month: also says the Central Bank must work independently from Parliament since politicians only take popular decisions.
- SJB MP Nalin Bandara says he heard the Jathika Jana Balawegaya Leader Anura Kumara Dissanayake saying that his party would give a period of one year for the Govt to hold the LG election: claims that statement suggests the JJB has an agreement with the Govt to postpone the local polls.
- President Ranil Wickremesinghe holds a decisive zoom discussion with IMF Managing Director Kristalina Georgieva, extensively on the IMF bailout package and the expected debt restructuring for Sri Lanka.
- President Ranil Wickremesinghe says a change of Govt can only be brought about through a Parliamentary election, and reiterates the streets is not an option for Parliament.
