Friday, February 23, 2024

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Sri Lanka Original Narrative Summary: 06/12

  1. An ADB official says SL will get about USD 600 mn on a “staggered basis” from the Asian Development Bank after the IMF releases the 2nd tranche of it’s USD 2.9 bn bailout of SL: ADB has been one of the multi-lateral financing institutions that has not been affected by SL’s controversial debt default of 12th April’22.
  2. President Ranil Wickremesinghe is reported to be mulling prorogation of Parliament in January’24: once Parliament is prorogued, pending business before the House will lapse, and the new Parliament, once convened by the President, has to resume afresh: the President can prorogue Parliament for a maximum of 2 months.
  3. SLPP Rebel MP Prof. Charitha Herath expresses concern about an impending Constitutional crisis in the country.
  4. Six priceless Kandyan treasures including a golden & silver kasthãné (ceremonial swords), two maha thuwakku (wall guns), and Lewke Disave’s cannon, which were looted by the Dutch in 1765, placed on public display at the Colombo National Museum
  5. Justice Minister Wijeyadasa Rajapakshe reveals plans to introduce a new legislative framework to oversee operations of micro-finance institutions: emphasises the need to establish an independent regulatory institution, separate from the Central Bank, with a specific focus on overseeing and effectively regulating micro-finance entities.
  6. Sri Lanka ranked among the top 5 fastest growing tourism destinations for 2024 by the world-renowned travel guide, the “Travel Off Path”.
  7. SL Air Force receives two Harbin Y-12-IV twin-engine turboprop utility aircrafts from China: Harbin Y-12 or Yunshuji-12 is a light multi role aircraft designed & developed by Harbin Aircraft Manufacturing Corp of China, and principally used for passenger & cargo transportation.
  8. Budget Deficit for the first 9 months of 2023 widens to an astronomical Rs.1,614 bn from Rs.1,244 bn last year: Tax revenue up by over 50% to Rs.1,934 bn amid significant upward revisions to tax rates & introduction of new taxes: however, expenditure also up by a massive 38.5% to Rs.3,732 bn with recurrent expenditure surging 44.7% to Rs.3,328 bn.
  9. Number of Dengue cases recorded in the first 11 months of 2023 reaches the highest infection levels in the past 3 years: cases reported for the years 2020, 2021 & 2022 were 31139, 35054 & 76467: however, by 5th December’23, 78,022 cases had been reported for this year: so far, 46 dengue-related deaths have also been reported.
  10. Dulanjan Fernando, 24, sets a new National record in the 3 metre Springboard diving event at the CAMO International Invitation Plongeon in Montreal, Canada: earns recognition from World Aquatics, making him the 3rd SL diver to achieve such global acclaim.

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