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The Central Bank this week directed Licenced Commercial Banks (LCBs) to impose a 100% margin deposit requirement against Letters of Credit (LCs) for the importation of motor vehicles with immediate effect. This step is aimed at reducing stubbornly high imports, which could eventually have serious implications for macroeconomic stability. 

On 14th September, eight Tamil detainees in the Anuradhapura prison, detained under the Prevention of Terrorism Act (PTA) since around 2009 commenced a fast. Their cases are yet to be concluded, with a major reason for delays being the non-attendance of officials from the Attorney General’s department who are prosecuting the cases.

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