President Ranil Wickremesinghe says he won’t dissolve Parliament until stability returns: vows to crush non-democratic attempts to change govt: asserts he would deploy military and use emergency powers if necessary: accuses the Frontline Socialist Party and its leader Kumar Gunaratnam for attempt to capture Parliament on 13th July: adds he will appoint a Commission to investigate media involvement in the struggle.
CB Governor Dr. Weerasinghe says he will name & shame export companies that fail to convert forex earnings within stipulated time: threatens penal action against over 50 large scale exporters who are allegedly declaring unrealistic and low local value additions.
President’s Senior Economic Adviser Dr. R H S Samaratunga says any “debt-for-nature” swap will be subject to IMF Board approval: says Govt can’t get IMF’s USD 2.9 bn over 4 years without a successful debt restructuring programme.
SJB MP and Economic Guru Harsha de Silva hints that domestic debt restructuring will be inevitable: says interest payments expected to rise considerably in 2023 on domestic borrowings: highlights rollover risk.
CEB engineers warn of difficulties in continuing power generation at the Norochcholai Coal Power Plant: say procurement of coal seriously hampered by the non-availability of credit facilities to purchase coal as a consequence of debt default.
According to CB daily Exchange Rate reports, Rupee firmly “fixed” at Rs. 360.99 (buying) and 371.83 (selling) per USD by the Central Bank since 17th November 2022:
Cabinet approves Bill to set expenditure limits on election candidates: Justice Minister Wijedasa Rajapakshe says new law expected to enhance transparency and accountability of the public representatives.
Speaker orders SJB MP Chaminda Wijesiri to leave the Chamber: suspends him from Parliamentary session after he attempted to assault SLPP MP Nimal Lanza.
Former Central Bank Governor Ajith Nivard Cabraal says the previous Cabinet Ministers were fully apprised of the economic crisis in the country by then Finance Minister, via several Cabinet Papers.
Colombo Magistrate’s Court grants bail to Ven. Galwewa Siridamma Thera who was remanded under the Prevention of Terrorism Act: however, he has been remanded again until December 6 by the Kaduwela Magistrate’s Court, pertaining to anothet incident.