Sri Lanka Original Narrative Summary: 17/11

Date:

  1. Central Bank accepts a massive T-Bill “special issue” of Rs.130 bn on 15th November: “money printing” under Governor Dr Weerasinghe reaches a staggering Rs.840 billion: average “money printing” per day under Weerasinghe rises to Rs.3.8 bn: under Governors Lakshman and Cabraal it was Rs.2.2 bn.
  2. Elections Commission Chairman Nimal Punchihewa assures Opposition political parties that the Local Govt elections will be held prior to 20th March 2023.
  3. State Minister of Finance Ranjith Siyambalapitiya says Budget 2023 is not a futile document: rejects allegations that international influences shaped budget: says income tax files must be opened for all MPs.
  4. President Ranil Wickremesinghe instructs officials to implement the Singapore – Sri Lanka Free Trade Agreement immediately.
  5. National Council Sub Committee on Economic Stability Chairman Patali Champika Ranawaka says Sri Lanka has been too late to seek IMF assistance: previously, the Govt and Central Bank were confident of obtaining funds from IMF in about 6 months: now the expected date of disbursement is being shifted regularly.
  6. Cinnamon Gardens Police inform the Magistrate’s Court that former MP Hirunika Premachandra gives hugs to Police Officers during public protests as a tactic to make them uncomfortable: say they believe it is her ‘modus operandi’.
  7. Shares slip over 2% to their near 3-1/2 month low: brokers say investors seem to respond to impacts of Budget 2023 policies: less than expected quarterly earnings 3Q22 also dent bourse.
  8. FR petition filed requesting annulment of the promotion to Bimshani Jasin Arachchi as the first Police DIG in history: petition fixed for consideration on 18th May 2023 by the Supreme Court.
  9. Department of Immigration increases passport charges with immediate effect: new charges – Rs.5,000 for issue of passports under normal service and Rs.20,000 for one-day service.
  10. South African President Cyril Ramaphosa arrives in Sri Lanka for a short visit after attending the G20 Summit: meets with President Ranil Wickremesinghe at the Katunayake Air Force base: holds discussions on bilateral issues.

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