Sunday, February 5, 2023

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Sri Lanka Original Narrative Summary: 05/12

  1. India’s Hindustan Times report states Paris Club Creditor Nations are to propose a 10 year debt moratorium on Sri Lankan debt together with a debt restructuring over 15 years: no mention of reaction by China and India which are amongst Sri Lanka’s largest bi-lateral lenders.
  2. Cabinet-Appointed Committee on Power Sector Reforms recommends the division of Ceylon Electricity Board into 15 companies: also asks Govt to avoid accepting unsolicited proposals.
  3. Testicle trafficking racket uncovered at a private hospital in Borella where previously a kidney trading racket was exposed: the illegal operation said to be run by a broker named “Bhai”: Colombo Crimes Division informs Colombo Additional Magistrate Ranjindra Jayasuriya that an investigation has been launched.
  4. Sri Lankan, 45, reportedly charged by Australian Police for stabbing his 44 year old wife, a mother of three children, to death at their home in Melbourne.
  5. Former CB Deputy Governor P Samarasiri debunks Central Bank’s new effort to justify “money printing” under Governor Weerasinghe by showing that “reserve money increase” has been modest, while ignoring the increase in the T-Bill holdings of the CB: points out many technical faults in that theory: says the effort is like returning to “tribal” monetary concepts.
  6. Central Bank says exporters have hoarded about USD 3,000 mn in earnings overseas last year, without repatriating: says export earnings were USD 1,450 mn in October 2022, of which USD 1,199 mn were in respect of merchandise, but only USD 326mn was converted: also says earnings from tourism in November 2022 was USD 107mn with total earnings from tourism from January to November 2022 being USD 1,129mn.
  7. Labour and Foreign Employment Minister Manusha Nanayakkara says steps being taken to ban 400 employment agencies for failing to provide the required information regarding those who went overseas on tourist visas for employment.
  8. Top Health Ministry Official says state sector medical practitioners who are leaving their jobs without officially informing the Health Ministry cannot be blacklisted as stated by the Health Minister: however, if they have received foreign training under a bond, they will have to pay the money spent on their training.
  9. Opposition Leader Sajith Premadasa claims the SJB led by him is the only political force able to rebuild the country.
  10. State Tourism Minister Diana Gamage says liquor outlets should be kept open 24×7 if the country wants to boost tourism: laments bars are closed at 11pm and foreigners in hotels are unable to get alcohol thereafter.

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