- IMF says risks to its Sri Lanka program are “exceptionally high” because of the complex debt restructuring, unfavorable external environment, high inflation, and challenging political & social situation: also says the program runs significant risks of fiscal slippages, revenue mobilization and reserves buildup: warns a deeper crisis induced by a further economic fallout, weakened banking sector, exchange rate pressure and loss of market confidence could also complicate the program.
- LKR starts to depreciate once again against the USD after just 4 days of the IMF agreement: falls by nearly 1% to Rs.331.38; black market quotes up again at around Rs.345.00: market expects further depreciation.
- State Minister of Finance Ranjith Siyambalapitiya reveals USD 121 mn was used from the USD 333 mn received from the IMF to settle a loan installment due to India: analysts puzzled how Govt has done so in the context of its solemn assurance of “equal treatment” of all bi-lateral creditors and commitment to transparency.
- Fertilizer companies agree to reduce the price of a 50 kg bag of urea fertilizer by Rs.7,000: decision follows discussion with Agriculture Minister Mahinda Amaraweera.
- Top officials of the Health Ministry fail to appear before the HRC for a 3rd time to participate in the inquiry into the medicinal drug shortage in the country.
- Crowds protest outside residence of Bar Assn President Saliya Peiris, accusing him of representing infamous underworld figure and Drug Lord “Harak Kata”: Bar Assn says the protest is a serious hindrance to Pieris’ professional right to represent a client.
- Exports record USD 1,005 mn in Feb23: contraction of 8.1% YOY: cumulative export earnings for the first 2 months of USD 1,980 mn reflects a massive reduction of 9.7% YoY.
- Opposition leader Sajith Premadasa and other leaders of opposition Parties meet foreign diplomats: provide briefing on the current situation, the need to protect the country’s democracy & Constitution, and the need to conduct LG elections.
- Law & Order Minister Tiran Alles to await provision of detailed information on alleged incidents of certain Police stations falsely reporting drug-related cases, from Justice Minister Wijeyadasa Rajapakshe: previously, Rajapakshe had said that reports by Govt Analyst’s Dept have proven that certain drug related cases are being falsely reported to Courts by certain Police stations.
- Marine Environment Protection Authority officials say legal action in connection with the MV X-Press Pearl fire and marine disaster should be instituted within the next 58 days: previously various Govt leaders have stated that the Govt expects at least USD 1 bn as compensation.
