- State Finance Minister Shehan Semasinghe says the first disbursement of USD 250 mn out of the USD 500 Mn for “budget support” from the World Bank has been received: analysts express alarm that the Govt is yet borrowing in Forex for “budget support” even after increasing taxes, utility prices and all govt charges by massive percentages.
- Former Foreign Minister & MP Professor G L Peiris says the Govt’s claims that domestic debt restructuring efforts will have no impact on the EPF are false: also says the entire process of DDR is a “deception”: in the meantime, Govt issues the Gazette Notification on DDR.
- Former CB Governor Ajith Nivard Cabraal says there’s no way that the debt crisis could be successfully overcome without growing the economy: laments there’s no govt strategy at present to stimulate the economy, and therefore the DDR plan would fail: reminds the GDP had a growth from USD 24 bn to 79 bn from 2006 to 2014, and consequently the Debt to GDP reduced from 91% to 69% during that period.
- TNA MP M A Sumanthiran alleges that by the Govt & Central Bank excluding primary dealers, domestic private Bond holders & high net-worth money market players from the Domestic Debt Optimisation, those investors have benefited immensely: terms such investors as “vultures”: alleges that they are the ones who do bond scams and who fund the election campaigns of the Govt.
- Colombo Stock Exchange’s ASPI increases significantly by 633 points or 6.71% to pass the 10,000 point mark to 10,076 points; Turnover records Rs 7.4 bn: T-Bill and Bond yields down substantially, leading to massive profits being booked by primary dealers, bond holders and money market players.
- Fitch Ratings says complications may arise from a number of factors in the govt’s proposal for treatment of Domestic Debt, although the new effort marks a step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector.
- Govt’s budget deficit for the 4 months upto April 2023 expands by a staggering 57% from a year ago to Rs.824 bn (from 2.2% of GDP to 2.7%) driven by interest costs: exchange rate appreciates amidst non-payment of Forex debt, tight import restriction policies, massive contraction of consumer demand and negative economic growth.
- Chinese Ambassador to SL Qi Zhenhong says many nations in the world, including China and Sri Lanka, are still suffering under the yoke of neo-colonialism and hegemonism: also says China firmly upholds international fair play & justice, advocates the practice of true multilateralism, takes a clear stand against all hegemonism & power politics, and unswervingly opposes any unilateralism, protectionism & bullying.
- Former PUC Chairman Janaka Ratnayake stresses need for accurate data and fair practices in determining electricity tariffs, with a focus on minimising the burden on consumers and ensuring their rights: asserts the increase of the electricity tariff in February was based on inaccurate data.
- Sri Lanka Women’s Cricket Captain Chamari Athapaththu becomes the first player from Sri Lanka to top the ICC Women’s ODI Player Rankings: climbs to the top spot in the batting charts.
