Tuesday, June 25, 2024

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Sri Lanka Original Narrative Summary: 28/02

  1. Mass Media Minister & SLPP Economic Guru Bandula Gunawardana says Sri Lanka can’t get loans from any country after announcing bankruptcy: also says the Govt can’t now “print” money as per IMF conditions: however, Central Bank figures show that Rs.31 bn has been “printed” in the week ending 24 Feb’23 & Rs.33 bn in the week before.
  2. President Ranil Wickremesinghe declares public transport services for food, drink, coal, oil, fuel, etc, and maintenance of transport services by road, rail, air etc, as “essential services” with immediate effect.
  3. Stock market Investors take “wait-and-see” approach after official comments about IMF loan: IMF loan was originally expected in Dec’22, but now delayed until 2Q23: China calls for relief from World Bank, ADB & IMF which have been insulated from re-structuring so far as “senior creditors” under current resolution frameworks.
  4. World Bank’s IFC to provide USD 400 mn SWAP of 1 year to Commercial Bank, Nations Trust Bank & Sampath Bank to help facilitate imports of food, medicine & fertilizer that is traded in USD.
  5. SJB MP Mayantha Dissanayaka says he will resign from the post of Chairman of the Public Finance Committee.
  6. Energy Minister Kanchana Wijesekara says a decision has not been taken to suspend the National Fuel Pass QR system from 10th April: also says a decision on the system will be taken in consultation with Finance Ministry & other stakeholders in the next few months.
  7. Human Rights Commission calls for a report from the IGP on the police use of water cannons and tear gas on protesters in the area of Union Place that led to 28 persons sustaining injuries, including one fatality.
  8. Nivithigala Pradeshiya Sabha candidate of the Jathika Jana Balawegaya, Nimal Amarasiri (61) who was admitted to the National Hospital after sustaining an injury during their protest, passes away.
  9. Central Bank Trade Unions Alliance says it will join 40 other unions representing professionals, in a strike on 1st March, over the oppressive tax policy: this will be the first time the Central Bank staff have joined a strike after 2006.
  10. Court of Appeal issues an interim order preventing the implementation of the gazette issued by the Sports Minister, which outlines regulations pertaining to sports bodies, Including Sri Lanka Cricket.

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