Sunday, June 4, 2023

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Sri Lanka Original Narrative Summary: 14/04

  1. Sri Lankans usher in the Sinhala & Tamil New Year today: punya kalaya starts at 8.35 am: dawn of the New Year at 2.59 pm: lighting of hearth at 3.29 pm: starting work & partaking of meals at 5.05 pm.
  2. President Ranil Wickremesinghe launches the debt restructuring process by Japan, India & France: Sri Lanka announced its debt default on 12th April 2022, and the process is only starting 1 year after that hurried & controversial announcement: at the time that announcement was made, many top officials assured that the debt re-structuring would be completed swiftly.
  3. IMF Director Asia Pacific Krishna Srinivasan explains how the restructuring would happen in terms of providing principal “haircuts”, extension of maturity & interest rate reduction, which has to be negotiated between Sri Lanka and its creditors: indicates that Sri Lanka’s “debt relief” is expected to contribute a staggering USD 17 bn “to close the financial gap” between 2023-27 while the overall gap is about USD 24 bn.
  4. IMF Deputy MD Kenji Okamura says an expeditious debt resolution is needed for Sri Lanka to emerge quickly from its crisis and hopes all bi-lateral creditors will participate and complete negotiations before the IMF’s 1st review: Japanese FM Shunichi Suzuki and Indian FM Nirmala Sitharaman also join the “launch”: Sri Lanka’s largest and most important bi-lateral creditor China absent.
  5. Justice Minister Wijeyadasa Rajapakse asks IGP C D Wickramaratne to probe an allegation that a party involved in the ongoing deliberations of the MV X-Press Pearl maritime disaster received a bribe of USD 250 mn and the money was sent to an account at a British bank: declines to vouch for the veracity of the accusation.
  6. Frontline Socialist Party Propaganda Secretary Duminda Nagamuwa says the Central Bank is most vulnerable and losing its security and safety under the Govt of President Ranil Wickremasinghe.
  7. State Trading Corporation says the 3rd shipment of 1 mn eggs from India has been released and will be distributed to bakeries.
  8. Additional Prisons Commissioner General Chandana Ekanayake says the Prisons Dept has prepared a special opportunity for prisoners to meet visitors during 3 days in view of the Sinhala & Tamil New Year: visitors to also be given opportunity to provide food parcels and sweets.
  9. Cricket selectors drop wicketkeeper-batter Niroshan Dickwella from the 15-member squad for the 2-match Test series against Ireland, which begins in Galle on April 16: name Nishan Madushka and Sadeera Samarawickrama as their wicketkeeping options.
  10. Asia Rugby reinstates Sri Lanka Rugby as a full member of Asia Rugby, considering the Sports Ministry’s confirmation of canceling the gazette notification dated April 1st, 2022.

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