- Sri Lanka abstains in UN General Assembly vote on “resolution calling for Russia to be held accountable for violations of international law by its invasion of Ukraine”: resolution adopted with 94 for, 14 against, & 73 abstentions.
- West-funded Centre of Policy Alternatives’ Director Pakiasothy Saravanamuttu says China’s “unwillingness” to accept the “proposed debt restructuring” might deprive Sri Lanka of USD 2.9 bn facility from IMF: reports indicate Sri Lanka defaulted on its Forex debt even while China was about to grant a Cash loan of USD 1.0 bn and Trade loan of USD 1.5 bn.
- Delhi Court grants bail to Sri Lankan born Bollywood actress Jacqueline Fernandez in the INR 2 bn money laundering case involving Sukesh Chandrasekhar.
- CB Governor Dr Weerasinghe says economy avoided a “crash landing” under his watch: analysts disagree and say, under his watch, inflation at 66%: T-Bill rates over 33%: SMEs crashing: Rupee “fixed” for 6 months: Forex debts over USD 3 bn unpaid: over Rs.700 bn “printed”: growth -8.5%: IMF loan uncertain: reserves below March ’22 levels: banks can’t open LCs: local debt haircut, feared.
- University of Colombo Economics Professor Sirimal Abeyratne says Budget 2023 is one of the best he has seen for decades: asserts it addresses the current economic crisis and proposes the long standing reforms needed for the country.
- Ceylon Chamber of Commerce says Budget 2023 contains many laudable reform proposals which, if timely implemented, will complement the ongoing fiscal reforms outlined prior to the Budget.
- CB Governor Dr. Weerasinghe says Govt has granted preferential tax rates of 14% or 15% to exporters, but not seen any positive results: laments that has not stopped them from expanding their businesses abroad.
- Fitch Ratings says sharp electricity tariff revision in August ’22 wouldn’t cover Electricity Board’s operating costs: another electricity price hike imminent.
- Colombo Chief Magistrate Nandana Amarasinghe grants bail to former MP Hirunika Premachandra and 14 others, arrested for participating in demonstration near President’s House and interfering in police duties: warns bail will be revoked if they come before the Court on such charges again.
- Treasury Secretary Mahinda Siriwardene says Govt has unpaid bills of about Rs.200 bn to construction sector and others; also says Govt has come up with revenue policies because Govt is unable to pay those bills.
