Monday, June 17, 2024

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Sri Lanka Original Narrative Summary: 13/08

  1. State Minister of Finance Ranjith Siyambalapitiya says the 2nd IMF tranche of about USD 350 mn (Rs.120 bn) is likely to be received following the 1st review scheduled for Sept’23: asserts “we had agreed on 9 conditions required to be fulfilled before the review & we have done that”: analysts point out that the amount receivable is even less than one month’s public servants’ salary bill of the beleaguered Govt.
  2. Japan’s Ambassador to India Hiroshi Suzuki lauds the robust collaboration between Tokyo and Colombo in navigating Sri Lanka’s debt restructuring: asserts Japan places the highest priority to transparent and equitable debt restructuring where the principle of equitable treatment is applied among all creditor countries, organisations and entities.
  3. President Ranil Wickremesinghe emphasizes the importance of capital, particularly financial and human, for driving growth: notes that Sri Lanka’s historical capital formation efforts had been disrupted over the years, leading to current financial struggles: since April’22, the economy has recorded massive negative growths of 8.4%, 11.8%, 12.4%, & 11.5% in 2Q22, 3Q22, 4Q22, & 1Q23, respectively.
  4. COVID-19 Coordinator Dr. Anwar Hamdani says the existing stock of Sinopharm Covid vaccines will expire on August 24: asserts that there is still some time for anyone to be vaccinated: over 8 mn people have been so far vaccinated against Covid-19 with boosted shots.
  5. Govt amends the existing licence fee chargeable from any person or entity applying for public exhibition of any foreign or local films, stage dramas, musical or performing shows, under the Public Performance Act.
  6. Water Supply & Drainage Board requests the public to use water sparingly due to the dry weather conditions.
  7. State Minister of Finance Ranjith Siyambalapitiya says the Govt expects to shortly relax restrictions on import of lorries, trucks and buses used for public transport: analysts expect the exchange rate to be further impacted negatively as a result.
  8. Newly appointed Deputy Indian High Commissioner in Colombo, Dr. Satyanjal Pandey assures fullest support in furthering defence cooperation between the 2 countries.
  9. Navy rescues 7 fishermen from a fire-hit fishing trawler in the Southern waters, about 58 nautical miles (approx. 107 km) off Galle: the distressed trawler ‘Ruhunu Kumari 6’ had been at sea on a routine fishing expedition, having left from Wennappuwa.
  10. Sri Lanka to host Afghanistan’s 3-match ODI home series against Pakistan from 22 to 26 August, ahead of the 2023 Asia Cup.

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