- Parliament passes the Anti-Corruption Bill without a division, but with amendments.
- Supreme Court dismisses a Fundamental Rights petition, filed against the Minister of Public Security, members of the Police Commission and Senior Police Officers, which alleged that they did not take necessary action pertaining to the incidents that took place on May 9, 2022.
- IMF Executive Director for Sri Lanka Professor K Subramanian says Sri Lanka’s forthcoming review of the USD 3 bn IMF package “should go through” given the falling inflation, appreciation of the rupee and build-up of foreign reserves: analysts however point out that Sri Lanka’s economic growth has been hugely negative in all 4 quarters since seeking IMF help, the LKR has depreciated over 10% in the last one & a half months, Cost of living has soared since April 2022, and reserves have been buttressed mainly by highly expensive borrowed “hot-money” and not genuine forex inflows.
- Central Bank’s T-Bill auction yesterday fails miserably: out of the total of Rs.160 bn offered, only Rs.64 bn accepted, even with higher interest: the huge shortfall of Rs 96 bn likely to warrant further “money-printing” by the CB: CB had to resort to Rs.105 bn in “money-printing” last week to keep interest rates in check: serious crisis looms.
- Attorney General files a preliminary objection before the Supreme Court, seeking the dismissal of the FR petitions filed by the former Chairman of PUCSL Janaka Ratnayake & others, challenging the electricity tariff hike which took place in February 2023.
- European Commission to grant a 4-year extension to the current GSP+ scheme until December 31, 2027 so that countries like SL don’t lose preferential access in the interim, as negotiations for new GSP+ arrangement continue: as a result, SL will enjoy the current access to the EU market with the same obligations.
- Sri Lanka’s Passport ranks 95th in the Henley Passport Index along with Libya: 41 countries grant visa-free travel or visa-on-arrival to holders of Sri Lankan passports: Singapore replaces Japan as the most powerful passport as it allows visa-free access to 192 global destinations.
- World Bank Country Director for the Maldives, Nepal and Sri Lanka Faris Hadad-zervos says the Govt’s decision to go for a Domesric Debt Re-structuring and Parliament’s approval of that decision were welcome steps in Sri Lanka’s path towards debt sustainability.
- President Ranil Wickremasinghe finds fault with Parliament for the developing financial crisis: asserts that one of the major reasons for the crisis was the failure on the part of the Parliament to ensure financial discipline: also blames Parliament for not appropriately exercising its power.
- Cricket Men’s Asia Cup (50 overs) scheduled to be held from 30 August to 17 September in Lahore & Multan in Pakistan and Pallekele & Colombo in Sri Lanka: Pakistan vs India match to be played on 2 September at Pallekele: Final at R. Premadasa Stadium, Colombo on 17 September.
Sri Lanka Original Narrative Summary: 20/07
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