Monday, November 28, 2022

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Sri Lanka Original Narrative Summary: 01/10

  1. World Bank President David Malpass asks Sri Lanka to move quickly in debt restructuring process & access IMF Program: wants Sri Lanka to have a plan and execute it fast: warns WB will not offer new financing until macro-economic policy framework is in place: insists on “deep structural reforms that focus on economic stabilisation”.
  2. Japanese Finance Minister Shunichi Suzuki says Japan is prepared to “do its part” over Sri Lanka’s debt issue, provided other creditors like China and India are involved.
  3. President Ranil Wickremesinghe asserts Sri Lanka will shoulder an unprecedented fiscal effort to restore country’s debt sustainability: hopes creditors and stakeholders will support the efforts.
  4. Social Security Contribution Levy to be imposed at 2.5% on turnover of importers, manufacturers, service providers, wholesalers and retailers: effective from 1st October: threshold to be annual turnover of more than Rs.120 million.
  5. CCPI Inflation gallops to 69.8% in September from 64.3% in August 2022: Sri Lanka’s Central Bank yet to follow its Argentine counterpart which increased its benchmark interest rate to 75% as it’s inflation reached near 80% last week: Argentina is currently under an IMF programme.
  6. College of Medical Laboratory Science President Ravi Kumudesh says the National Hospital, Colombo has stopped most bio-chemical tests due to shortage of reagents: also says many patients are asked to get tests done in private labs, to which some senior officials are connected.
  7. President Ranil Wickremesinghe meets ADB President in Manila: proposes establishment of an International University on Climate Change in Sri Lanka.
  8. Colombo Mayor Rosy Senanayake allows Music Festival at Lotus Tower to go ahead after the name “Hellfire” was changed to “Fire”: Hellfire said to be the name of a satanic cult.
  9. Colombo District Court Judge Kalhari Liyanage orders team of doctors and nurses of the District General Hospital, Gampaha to pay Rs.30mn in compensation to a child for causing permanent disability by performing a natural delivery in 2012, even after being aware that the child’s umbilical cord was wrapped around her neck.
  10. Sri Lanka Legends Cricket tram beats West Indies Legends by 14 runs and qualify for the Finals with the Indian Legends, in the World Championship for Legends: Sri Lanka Legends 172/9, West Indies Legends 158/7.

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