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Sri Lanka Original Narrative Summary: 25/03

  1. President Ranil Wickremesinghe emphasises the need for comprehensive discussions on healthcare advancements, stressing the integration of modern technology to enhance medical facilities: reaffirms the government’s commitment to empowering individuals for societal progress through healthcare: encourages active participation from medical professionals in shaping a forward-looking healthcare framework, highlighting leadership and government involvement.
  2. Former President Maithripala Sirisena appears before the Criminal Investigation Department to produce a statement in connection with his recent controversial remarks about the Easter Sunday genocide: Sirisena previously claimed that he has knowledge on the true mastermind behind the attack, which took away more than 270 lives five years ago.
  3. NPP/JVP Leader MP Anura Kumara Dissanayake says his party opposes the government’s proposed Constitutional Amendments before the Presidential polls: emphasises that the government fears losing power and is delaying elections: assures that the NPP would prevent the implementation of these amendments until after the Presidential election: further discusses potential alliances in forming a government if the NPP fails to secure enough seats.
  4. Justice Minister Wijeyadasa Rajapakshe issues a gazette allowing English language use in the Commercial High Courts for all proceedings and record-keeping: The decision aligns with the Constitution and aims to improve efficiency, considering the prevalent use of English in commercial activities and the challenges of translation.
  5. Officials are drafting an economic transformation law to address concerns about potential disruption to the current IMF programme amid political transitions: The legislation aims to safeguard the sustainability of the IMF-supported reform programme, valued at US$3 billion: Despite commendable progress noted by the IMF, opposition parties have vowed to renegotiate the agreement if elected: Finance State Minister Shehan Semasinghe plans to introduce the bill in Parliament in May, ensuring continuity and legal backing for the reform programme regardless of political changes.
  6. Sri Lanka’s official unemployment rate drops to 4.3% in the 4Q23’, down from 4.7% in the previous quarter, reflecting a growing economy: GDP surges by 4.5% in Q4, a significant rebound from 1.6% in Q3, indicating economic recovery after severe challenges in 2022: The country now earns $825 million monthly from remittances and tourism, signalling progress: Despite this, emigration has led to talent shortages as companies resume hiring: The labour force participation rate fell to 47.1%, indicating tight labour market conditions compared to OECD countries.
  7. The Central Bank plans to revise its regulatory sandbox to attract more fintech players after minimal engagement in four years: Challenges such as costly audits deterred participation: The aim is to streamline regulations to encourage experimentation, taking inspiration from successful models like India’s Reserve Bank.
  8. Belarusian President Lukashenko praises Sri Lanka’s economic reforms and expresses Belarus’s support for them: emphasises Belarus’s willingness to enhance bilateral cooperation across multiple sectors, including agriculture and technology.
  9. Badulla Hospital transitions into a Teaching Hospital alongside the Faculty of Medicine: A ceremony was held at the Badulla Library Auditorium to welcome 50 new medical students, during which the Nimal Siripala de Silva Foundation donated stethoscopes to each student.
  10. Sri Lanka’s Dhananjaya de Silva and Kamindu Mendis both score centuries, leading Sri Lanka to a dominant position against Bangladesh in the first test in Sylhet: SL set Bangladesh a challenging target of 511 runs after amassing 418 runs in their second innings: With Bangladesh struggling at 47 for 5 wickets, SL’s victory seems imminent: Dhananjaya and Kamindu’s record-breaking partnership significantly strengthen SL’s position.

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