The Port City Colombo began the festive season with the lighting of Christmas tree followed by an evening of enchanting performances of traditional carols and contemporary festive tunes by the De Lanerolle Brothers, the National Unity Orchestra and the DLB Band. It was organised by the Colombo Port City Economic Commission, in collaboration with CHEC Port City Colombo Ltd. The Daily FT was the official print media partner.
Here Colombo Port City Economic Commission Chairman Dinesh Weerakkody, Episcopal Vicar for Colombo Region Reverend Father Ivan Perera, State Minister of Defence Pramitha Tennakoon, Tourism, Sports, Lands and Youth Affairs Minister Harin Fernando and CHEC Port City Colombo Managing Director Xion Hongfeng officiate at the lighting of the Christmas tree. –
The International Monetary Fund (IMF) announced the successful completion of the initial review under Sri Lanka’s 48-month Extended Fund Facility (EFF) arrangement. This achievement signifies the immediate release of the much-awaited second tranche of the IMF loan, totaling SDR 254 million (around USD 337 million), bringing the cumulative IMF financial support to SDR 508 million (approximately USD 670 million).
Approved in March 2023, Sri Lanka’s EFF Arrangement stands at SDR 2.286 billion (about USD 3 billion). IMF’s Deputy Managing Director, Kenji Okamura, lauded Sri Lanka’s performance under the EFF-supported program, citing it as ‘satisfactory.’ While most performance criteria and indicative targets were met, there were exceptions regarding expenditure arrears and tax revenues for end-June.
Facing its severest financial crisis in decades due to plummeting foreign exchange reserves last year, Sri Lanka secured a USD 2.9 billion IMF bailout in March 2023. Subsequently, the nation has made significant strides in stabilizing its economy, curbing inflation, and rebuilding currency reserves.
The EFF program aims to aid Sri Lanka in restoring macroeconomic stability, ensuring debt sustainability, preserving financial stability, and fostering growth-oriented structural reforms.
Simultaneously, Sri Lanka has reached preliminary agreements with China’s Export-Import Bank (Exim) and the Official Creditor Committee (OCC) to restructure its debts.
On November 29, the Sri Lankan government and OCC reached an in-principle agreement on the financial terms of debt treatment, covering around USD 5.9 billion of outstanding public debt. This arrangement involves a combination of long-term maturity extension and reduced interest rates.
This agreement with the OCC followed a similar deal with China’s Exim Bank, covering approximately USD 4.2 billion of outstanding debt.
Mr. Okamura stressed that Sri Lanka’s in-principle agreements with the OCC and China’s Exim Bank align with the EFF targets, positioning Sri Lanka’s debt on the path toward sustainability. He emphasized the criticality of swiftly finalizing and signing the agreement with official creditors.
Furthermore, he underscored the necessity of maintaining reform momentum and taking ownership of reforms to ensure a comprehensive and swift recovery.
A recent Extraordinary Gazette signed by Sports Minister Harin Fernando effectively revokes the appointment of the Interim Committee for Sri Lanka Cricket (SLC). The move, announced via X (formerly Twitter), intends to lift the suspension imposed by the International Cricket Committee (ICC) on SLC.
The Gazette, bearing reference No. 2356/43 dated November 05, 2023, has been rescinded, instantly dissolving the Interim Committee tasked with exercising SLC’s powers and functions.
Previously, on November 06, an Interim Committee comprising seven members was appointed by the then-Sports Minister Roshan Ranasinghe, chaired by former Sri Lankan cricket captain Arjuna Ranatunga. However, this move faced a legal challenge, resulting in a 14-day stay order issued by the Appeals Court following a writ application by SLC President Shammi Silva.
Amidst these developments, Minister Ranasinghe was removed from his positions, including Minister of Sports and Youth Affairs, on November 27. Harin Fernando subsequently assumed the role of Minister of Sports.
In light of the situation, SLC decided to establish an independent committee to investigate audit reports and recommend measures to prevent corruption. This committee features retired Supreme Court Judges S. I. Imam and Rohini Marasinghe, along with retired High Court Judge Irangani Perera.
The recent Gazette’s revocation of the Interim Committee signals a potential shift in resolving the issues within SLC and addressing the suspension imposed by the ICC. The move aligns with the government’s efforts to ensure transparency and stability within the country’s cricket administration.
Showers will occur at times in Eastern and Uva provinces and in Matale and Polonnarauwa districts. Several spells of showers will occur in Northern province and in Anuradhapura and Hambantota districts.
Showers or thundershowers will occur at several places in Sabaragamuwa and Western provinces and in Kandy, Nuwara Eliya, Galle and Matara districts after 1.00 p.m. Fairly heavy showers about 75 mm are likely at some places.
Misty condition can be expected at some places in Western, Sabaragamuwa, Central, Southern and Uva provinces in the morning.
The public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
Sri Lanka’s Ambassador to Belgium, Luxembourg, and Head of Mission to the European Union Grace Asirwatham paid a farewell call on the Secretary General of the Ministry of Foreign and European Affairs of Luxembourg recently.
During the farewell meeting, Ambassador Asirwatham and the Secretary General of the Ministry of Foreign and European Affairs engaged in discussions on the progress being made in the diplomatic relations between Luxembourg and Sri Lanka. Both parties expressed their satisfaction at witnessing the ongoing expansion of bilateral relations into new areas of cooperation.
They agreed that the first meeting of the MoU on bilateral consultations should be convened to review the status of bilateral relations and receive guidance for further promotion of cooperation. The Secretary General commended the Ambassador for advancing bilateral cooperation through various activities undertaken during her tenure in Luxembourg.
Ambassador Asirwatham also briefly met with the new Foreign and European Affairs Minister, Xavier Bettel, in his office in the Ministry. The Minister appreciated and congratulated the Ambassador on her successful initiatives to promote relations between the two countries.
Colombo (LNW): Sri Lanka’s High Commissioner to the United Kingdom, Rohitha Bogollagama, participated in the Sangha Nayaka Anuprapthi Felicitation Ceremony of Ven. Pidiwille Piyatissa Nayaka Thero in Manchester on December 10, 2023, the High Commission of Sri Lanka in London, UK said in a statement.
The event saw the presence of senior Buddhist monks, including Ven. Pahamune Sumangala Nayaka Thero, Lady Mayoress Yasmin Dar, Councillors, community leaders, and the British Sri Lankan community of Manchester.
During the ceremony, the High Commissioner presented the ceremonial Akthapatra (Credentials) to Ven. Nayaka Thero, conveying President Ranil Wickremesinghe’s applause and the Sri Lankan government’s appreciation for the newly appointed Sangha Nayaka Thero. The High Commissioner praised the Nayaka Thero’s service to the British Sri Lankan community in Greater Manchester.
On the sidelines of the event, discussions were held between the High Commissioner and the Mayoress, along with Councillors, focusing on ways to enhance cooperation between the Sri Lanka High Commission in the United Kingdom and the Manchester City Council. The emphasis was on increased involvement of the Sri Lankan community in governance.
In recognition of Ven. Pidiwille Piyatissa Nayaka Thero’s significant contributions to the spread of Buddhism, he has been appointed the Chief Sanghanayaka of England by the Malwatte Chapter of the Siyam Maha Nikaya.
The Nayaka Thero’s dedication to Buddhism in the United Kingdom is exemplified by establishing Ketumati Buddhist Vihara in Manchester in 1999 and Leeds Buddhist Vihara in 2017. His commitment to Dammaduta Mehawera has spanned continents, including Africa and Europe.
Colombo (LNW): Defence State Minister Premitha Bandara Tennakoon chaired a special discussion on the wet weather related emergency situation presently being experienced in the country at the Emergency Operations Centre of the Disaster Management Centre in Colombo, yesterday (Dec 11).
The landslide risk situation being experienced in the Badulla district received special attention during the discussion. The State Minister praised the prompt action taken by officials of the National Building Research Organization and the Disaster Management Centre for their timely intervention to evacuate 35 families and mitigate damages in the landslide at Haldummulla Kelipanawela on December 09.
The State Minister Tennakoon directed relevant officials to take necessary measures to face any emergency situations that may arise in the coming days as the Meteorological Department has forecasted rains to continue further. He also requested the general public to be on alert at all times to face any inclement weather related emergencies.
Officials including Director General of the Disaster Management Centre Major General Sudantha Ranasinghe, Director General of the National Building Research Organization Asiri Karunawardena and Director General of the Department of Meteorology Atula Karunanayake, were present at the discussion.
Colombo (LNW): Singapore’s Prime Minister Lee Hsien Loong has expressed sincere appreciation for the positive outcomes resulting from the productive discussions held with President Ranil Wickremesinghe in August.
The cordial letter conveying his gratitude was addressed to President Wickremesinghe, reported the President’s Media Division (PMD).
In the letter, PM Lee Hsien Loong emphasised his dedication to strengthening ties between Singapore and Sri Lanka across political, economic, and people-to-people dimensions.
The commitment to enhanced collaboration reflects a mutual desire to deepen the bilateral relationship for the benefit of both nations.
Prime Minister Lee Hsien Loong extended well wishes to President Wickremesinghe for good health and continued success in guiding the nation’s progress.
Additionally, he expressed anticipation and eagerness toward visiting Sri Lanka in the near future, underscoring the commitment to sustaining and advancing diplomatic ties between the two countries.
Colombo (LNW): Ceftriaxone, the antibiotic linked to a tragic death in July, has reportedly caused another allergic reaction in a patient at the National Hospital Colombo, a report by Daily Mirror disclosed.
The patient, admitted on December 09 for fatigue, experienced complications after receiving Ceftriaxone, including numbness in the arm, according to the report.
The patient was subsequently placed in the intensive care unit due to severe complications, with tests revealing a significant decrease in blood pressure and lung oxygen levels.
Hospital sources indicate that doctors were instructed not to use Ceftriaxone and to opt for alternative antibiotics.
This incident adds to growing concerns surrounding Ceftriaxone, previously associated with fatalities and complications in other hospitals.
Despite attempts, contacting health officials for comments on the matter has been unsuccessful. Ceftriaxone is commonly used to treat various bacterial infections.
Colombo (LNW): Sri Lanka, currently remaining extremely reliant on fossil fuels for the generation of its electricity, is now encouraging renewable energy projects especially solar and wind power plants with foreign investor involvement.
It has set itself the goal of increasing their renewable contribution to 70% of electricity production by 2030 as the installed capacity is insufficient to meet growing demand.
The Cabinet of Ministers has approved a proposal today seeking to enter into a Solar Power Purchase Agreement with the Australia-based company United Solar SGroup.
Taking to X (formerly Twitter), Power & Energy Minister Kanchana Wijesekera said through this deal, an investment would be made in a 700 MW Solar Power Project with a 1,500MW Battery Energy Storage System.
“The Solar power project will be installed on the surface of the Poonakary Tank in the Killinochchi District, with a Foreign Direct Investment of US$ 1,727 Million,” Wijesekera added.
Moreover Volta Investissements, a France-based renewable energies producer, has announced the conclusion of a $ 4 million capital raising designed to accelerate the implementation of its solar projects in Sri Lanka.
This fundraising will allow Volta to accelerate the construction of solar power plants, developed and installed on the roofs of Sri Lankan schools by its local partner Gaia Greenenergy Group. More than 500 schools already equipped with solar roofs
Since 2021, Gaia and Volta have been installing PV solar rooftops on Sri Lankan schools and hospitals. Having commenced in the Uva Region, with over 500 schools equipped as of Q1 2023, the Franco-Sri Lankan IPP is now seeking to launch the construction of similar assets in two new provinces
The combined initial investments of Norfund and Volta will support the overall construction of photovoltaic assets, 44 MWp, and help further secure the pipeline.
This capacity is expected to generate around 64 GWh per year, thus avoiding more than 41,000 t CO2 eq. per year.
The investment is made from the New Norwegian Climate Investment Fund that was set up by Norfund, with the goal of alleviating greenhouse gas emissions by investing in renewable energy in developing countries .Sri Lanka is one of eight prioritized countries for the new fund.
