- Senior IMF official Krishna Srinivasan says Asian Central Banks including Sri Lanka may need to keep monetary policy “tighter for longer” to combat “inflation risks”: analysts point out that the present very high interest rates in Sri Lanka have crippled local businesses, sent banks’ and NBFIs’ NPL levels soaring, and destroyed the real economy.
- Unofficial Ceylon Electricity Board sources say that electricity usage/consumption has dropped drastically YOY from 1Q22 to 1Q23 although there have been no power cuts: usage down 12.4% in Jan’23, 12.9% in Feb’23 and 17.4% in Mar’23 as per initial data: analysts also say massive plunge in GDP growth is indicated from these figures.
- President Ranil Wickremesinghe says Sri Lanka’s expectation is to engage in the debt restructuring process in a “successful and transparent manner” based on the principles of “comparable treatment”: meanwhile, China (as the world’s largest bi-lateral lender) has not changed it’s demand that multi-lateral lender “haircuts” similar to the haircuts to be suffered by other creditors, must be imposed when re-structuring sovereign debt.
- A committee of Sri Lanka’s international private creditors send its first “debt rework proposal” to the country’s authorities regarding over USD 12 bn in international sovereign bonds outstanding.
- OPA President Ruchira Gunasekera and General Secretary Sujeewa Lal Dahanayake say there is a constitutional responsibility to protect the independence of the Judiciary and ensure that the rule of law is not undermined: OPA is the apex body of 52 Professional Associations in Sri Lanka.
- Local fisherfolk submit petition with the Karaikal collector seeking the Govt’s urgent intervention on the grounds that vessels impounded by the Navy are reduced of their seaworthiness from neglect while in custody.
- Authorities yet unable to confirm the nature of the tar-like substance that is washing up on the shores of Trinco since 12 April: National Aquatic Resources Research and Development Agency and the Marine Environment Protection Authority launch separate investigations.
- Analysts claim the Sinhala & Tamil New Year “kevili” sweet food table cost has increased by at least 2.4 times since 2019.
- Ministry of Sports seal the Sri Lanka Rugby Headquarters in Torrington: move comes days after Minister of Sports Roshan Ranasinghe appointed a standing committee after dissolving SLR in accordance with certain provisions of the Sports Act.
- Police record statements from 15 CB personnel over the disappearance of a massive amount of cash from the Central Bank vaults: missing money was allegedly in a safe in the 3rd underground vault of the Central Bank, built with the most advanced and secure security systems.
