- World Bank says SL faces unsustainable debt and severe balance of payment crisis: also says it will have a negative impact on growth and poverty: warns implementation of a structural reform program is critical for economic stabilisation.
- Supreme Court grants “leave to proceed” in FR petitions filed by Transparency International and others regarding economic crisis: orders Auditor General to submit report on Monetary Board’s decisions regarding Rupee value, seeking IMF assistance, and settlement of ISBs: also directs Auditor General to submit Reports on Financial and Debt management.
- Colombo Lotus Tower and “Singapore Go Bungy” sign contract to start “bungee jumping” for the first time in Sri Lanka: jump from the Lotus Tower to be the world’s highest bungee jump.
- Government denies that notorious drug kingpin Nadun Chinthaka Wickramarathna alias “Harak Kata”, who was in the custody of Dubai Police was released due to the Defence Ministry’s delay in submitting file from Colombo to Dubai.
- CPC oil refinery to close from today: crude oil shipment delayed because of Forex shortage: order placed for 3 shipments but payments made only for 2: Energy Minister Kanchana Wijesekera says there’s no reason to panic as there are sufficient stocks.
- CB Governor Dr Nandalal Weerasinghe says business community is not affected by high interest
rates: asserts finance cost of a business is at most 10% only: 3 month T-Bill rates are now over 32% per annum. - Parliament debate on the 2nd reading of the 22nd Amendment Bill to Constitution to be on 20th and 21st October: dates agreed at the Consultative Committee on Parliamentary Affairs.
- Colombo Stock Exchange marks 3rd consecutive week of losses and highest in recent times: investor sentiment tumbles on macro issues: ASPI down 8.9%: daily turnover averages Rs.2.9 bn.
- August imports at USD 1.48 bn hit 4-month high: marks 4th consecutive monthly gain despite restrictions and forex crisis: however, YoY, imports down by 12%.
- CB Governor Dr Nandalal Weerasinghe refuses to give dates or particulars regarding IMF staff level agreement: says he is maintaining ‘radio silence’: also says discussions are going on with creditors.
