Monday, April 22, 2024

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Sri Lanka Original Narrative Summary: 20/01

  1. SLPP Leader & Former President Mahinda Rajapaksa says his Party had neither decided on a candidate for the Presidential election nor decided to contest that election.
  2. Senior IMF Mission Chief Peter Breuer says the Property Tax will help SL to take a “quantum leap” to achieve the IMF programme’s goals: also says SL’s economic recovery is still in the infancy level & yet to reach the broader population, ahough Sri Lanka’s macro economy is stabilizing.
  3. Former State Minister and CB Governor Ajith Nivard Cabraal says the Govt hasn”t been able to negotiate a single Dollar “hair-cut” from it’s external debt, although the IMF had indicated that 60% of the loans from External Bi-lateral & Private Creditors could be “cut” by USD 17bn out of USD 28bn: points out that the only the poor EPF Members had suffered a “hair-cut”although the Govt & the CB Governor had assured Local Debt will not be affected by the “Debt Re-structuring”.
  4. Dissident SLPP MP Gevindu Cumaratunga says in 2022, EPF members had been given only 9.0% interest, whereas CB employees received a staggering 29.27%: also points out that in 2020 & 2021, EPF members received 9.0% interest whereas CB employees were paid only 6.37% and 8.24%.
  5. Colombo Stock Market plunges to a 6-month low as investor sentiment remains depressed: so far in Jan’24, ASPI is down by 2.1% to 10,433: average daily turnover for the week dips to a mere Rs.850mn.
  6. SJB Deputy National Organiser S M Marikkar reiterates his Party will re-negotiate the agreement between SL Govt and IMF: assures the Party will “reform” the current tax regime: however, SJB’s Economic Guru Harsha Silva had previously been ardently advocating a tight IMF programme and higher taxes
  7. Narammala Magistrate’s Court remands the Sub Inspector whose firearm reportedly went off accidentally, killing a lorry driver: Acting IGP Deshabandu Tennakoon hands over Rs.1mn to the family of the lorry driver.
  8. Combined Trade Union Alliance of CEB Secretary Ranjan Jayalal says the CEB Unions have convened a meeting of all state & private sector unions to decide on action against the CEB decision to suspend 15 of workers for allegedly “disrupting services” during a protest against the proposed restructuring of the state-owned electricity supplier.
  9. Malwatte Chapter’s Venerable Thibbatuwawe Sumangala Mahanayaka Thera says the nation is at risk of complete deterioration unless it is entrusted to a competent group during this pivotal period.
  10. CB once again stresses the importance of Consolidation in the Banking and Non-bankibg sector for greater scale, efficiency & strength: rolls out a “Consolidation master plan”: the financial sector was being systematically consolidated in 2013/14, but that programme was summarily discontinued in 2015 by the Yahapalanaya Govt.

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