- Central Bank says LKR appreciates further against the USD: buying at Rs.313.77 & selling at Rs.331.05: many analysts say the sudden appreciation of the LKR is puzzling and suspect a manipulation by certain authorities: inside sources say the IMF has used the LKR value as Rs.400 per USD in 2023 and Rs.500 per USD in 2024 in it’s Debt Sustainability analysis.
- Fitch says the LKR, which has become the world’s best performing currency so far this year, will decline and lose a fifth of its value against the dollar by end-2023: maintains its forecast for the LKR to weaken to a record low of Rs.390 per USD by year-end.
- Opposition leader Sajith Premadasa says SL must emulate New Zealand and Scotland in combating “period” poverty in women which remains a neglected issue in the country: tweets that male chauvinism and male-dominated political processes have prevented SL from taking progressive steps to address the problem.
- Sri Lanka United National Businesses Alliance Chairman Tanya Abesundara says the consumer market will shrink by 60% by April If the CB Governor is unable to prevent the contraction of the economy: asserts the consumer market had already shrunk by 40% last December and therefore the unemployment rate had increased while SMEs have been forced to close down.
- Elections Commission Chairman says steps are being taken to hold the postal voting for the Local Government polls from 28 to 31 March 2023.
- SJB General Secretary Ranjith Madduma Bandara says Opposition political parties will take legal action against Treasury Secretary Mahinda Siriwardana for his failure to attend a meeting with the Elections Commission: Siriwardana had stated he had another meeting to attend.
- Sri Lanka’s Official Reserve Assets increase by 4.5% to USD 2,217 mn in Feb’23 from USD 2,121 mn in Jan’23: the reserve assets were USD 1,917 mn in Mar’22, even while all external debts were being settled.
- CB data shows Fish production had fallen to a 12-year low in 2022, scarred by the inability to import sufficient quantities of kerosene and diesel as a result of the lack of Forex: total fish production was 397 mn kg last year, compared to 429 mn kg & 435 mn kg respectively during the Covid-19 impacted years of 2020 & 2021.
- Ports, Shipping and Aviation Minister Nimal Siripala de Silva says 17 ships that arrived at the Colombo Port were turned back due to the recent protest by the Port trade unions: also says he made a tremendous effort to bring them back but only a few came back.
- Mass media Minister & SLPP Economic Guru Dr Bandula Gunawardena says it is still unclear how official creditors including China, Japan and India, would restructure their loans to SL: explains some may agree to a haircut, others could give a debt moratorium, reduce interest rates or have a combination of these: asserts that’s yet to be worked out.
