- Census and Statistics Dept data shows the “Real Economy” has plunged to unprecedented depths in the wake of the debt default and interest rate hikes: negative growth at 8.4%, 11.8% & 12.4% in the 2nd, 3rd and 4th quarters of 2022: CB data also shows a severe crash of USD 523 in the per capita income from USD 3,997 in 2021 to USD 3,474 in 2022.
- Former Commonwealth Fund Advisor Dr. Garvin Karunaratne says Professor Vasanta Atukorale has stated that the recent increases in taxes amounts to a staggering 441%: also says IMF’s experts fail to understand that implementing the reforms will cause untold hardships to the public and may lead to a severe recession: claims that may perhaps be the ulterior motive of the IMF.
- SL Banks’ Association laments Govt’s lack of transparency in dealings with SLBA: says banks’ Capital Adequacy and Liquidity Coverage Ratios are now within regulatory requirements and must not be depleted through debt re-structuring: also says credit impairments have hit an all-time high and any further impairment is not sustainable: reiterates that maintaining stability of the banking system is paramount at this time.
- Foreign Minister M U M Ali Sabry who has taken responsibility for announcing the now-infamous debt default on 12th April 2022, says “encouraging signs” have been seen thus far on the debt re-structuring process: admits SL is not out of the woods as yet: Sabry’s response was in answer to the comment that the ADB was predicting that the situation in Sri Lanka will get worse later this year.
- CSE indices end at an over 2-month low due to very poor company earnings in 2023Q1, domestic debt re-structuring fears, and the President’s comments on the potential closure of the stock market: ASPI plunges 3.03% or 272 points to 8,711: bourse has now fallen for 11 consecutive market days, the 1st time since 24Jul’01, after the LTTE attack on the Colombo Airport: shareholder wealth wiped out in this 11-market day period amounts to a staggering Rs. 288 bn.
- IMF raises Asia’s economic forecast but warns of risks from persistent inflation & global market volatility: urges Central Banks in Asia including Sri Lanka to keep monetary policy tight to bring down inflation.
- Chairman, Litro Gas announces that the price of a 12.5 kg cylinder of Litro domestic LP gas will be reduced by around Rs.100 with effect from midnight on 3 May: prices of other cylinders also to be reduced proportionately.
- Health Minister Keheliya Rambukwella says a Govt-appointed committee was misled by a professional on the highly controversial issue of ground-water contamination from COVID-19 burials.
- SL’s top mobile telecommunication firm Dialog Axiata merges operations with India’s Bharti Artel.
- Chief of the Vedda community, Uruwarige Wannila Aththo files Writ Petition in the Court of Appeal against the Mahaweli Authority’s decision to de-forest their traditional homelands in the Rambakan Oya area and hand them over to private companies for various cultivation purposes.
