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Party Leaders to Convene in Parliament for Key Meeting

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Speaker Mahinda Yapa Abeywardena has scheduled a meeting of all political party leaders in Parliament at 11:00 a.m. on 20 April. This meeting will be the first gathering after the Sinhala and Tamil New Year, and all party leaders have reportedly been informed to attend.

The upcoming Parliamentary session on 25 April will be the first one after the festive season, and the proposed Anti-Terrorism Bill is expected to be taken up during this session. However, a final decision regarding the matter will be made at the party leader’s meeting scheduled prior to the session.

The proposed Bill, which was initially supposed to be tabled in Parliament on 04 April, has faced opposition from several parties. As such, preparations have been made for the upcoming meeting to discuss the matter and reach a consensus.

The meeting is anticipated to provide a platform for party leaders to deliberate on critical national issues and make informed decisions for the betterment of the country.

Private Bus Owners’ Association President assures special buses for those returning to Colombo after festive season

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In light of the ongoing festive season, Gemunu Wijeratne, the President of the Private Bus Owners’ Association, has confirmed that special buses will be available for individuals who had traveled to their hometowns and need to return to Colombo.

Wijeratne revealed that only 25% of the buses were operational on April 15, but expects the number to increase to nearly 50% by April 16. This initiative is expected to ease the travel burden on individuals who had gone to celebrate the festival with their families and friends.

Furthermore, the Sri Lanka Railways Department has also announced the operation of special trains for long-distance journeys from April 15. The General Manager of the Sri Lanka Railways stated that several trains will be in operation from outstation areas to Colombo, including two trains from Galle and Badulla, which will start operating from tomorrow morning. Additionally, a special train from Anuradhapura to Beliaththa is also scheduled to be in operation.

However, the police have also expressed concerns over the increasing number of road accidents during the festive season. To ensure the safety of individuals traveling during this period, they have implemented a special safety program. Thus, travelers are advised to exercise caution and follow all necessary safety measures while traveling.

World Bank Commends Sri Lanka’s Progress on Economic Reforms

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The World Bank’s Regional Vice President for South Asia, Martin Raiser, has praised the progress made by Sri Lanka on fiscal, financial and economic governance reforms. Raiser made the comments during a meeting with a Sri Lankan delegation, led by Finance State Minister Shehan Semasinghe, Treasury Secretary Mahinda Siriwardana and Central Bank Governor Dr. Nandalal Weerasinghe, on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC.

During the meeting, Raiser and the Sri Lankan delegation discussed the country’s reform initiatives, including the transformation to a digital economy, progress on targeted social safety nets, and cooperation on renewable energy. The two sides also talked about supporting export-oriented small- and medium-scale businesses.

Raiser stressed the importance of transparency for the success of reforms, particularly social protection measures aimed at protecting vulnerable people. He expressed delight at Sri Lanka’s progress on fiscal, financial and economic governance reforms but noted that continued efforts were necessary for a full recovery of the country’s economy. The World Bank official reiterated the bank’s support for Sri Lanka through ideas and financing.

The Sri Lankan delegation also met with Assistant Secretaries of the US State Department, Donald Lu and Ramin Toloui, to discuss mutual interests and the US commitment to the island’s economic recovery and reform process. State Minister Semasinghe also had a productive meeting with IMF Deputy Managing Director Kenji Okumura, who appreciated the Sri Lankan government’s commitment to meeting the first review targets and completing debt treatment negotiations as quickly as possible.

Sri Lanka Original Narrative Summary: 15/04

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  1. Senior IMF official Krishna Srinivasan says Asian Central Banks including Sri Lanka may need to keep monetary policy “tighter for longer” to combat “inflation risks”: analysts point out that the present very high interest rates in Sri Lanka have crippled local businesses, sent banks’ and NBFIs’ NPL levels soaring, and destroyed the real economy.
  2. Unofficial Ceylon Electricity Board sources say that electricity usage/consumption has dropped drastically YOY from 1Q22 to 1Q23 although there have been no power cuts: usage down 12.4% in Jan’23, 12.9% in Feb’23 and 17.4% in Mar’23 as per initial data: analysts also say massive plunge in GDP growth is indicated from these figures.
  3. President Ranil Wickremesinghe says Sri Lanka’s expectation is to engage in the debt restructuring process in a “successful and transparent manner” based on the principles of “comparable treatment”: meanwhile, China (as the world’s largest bi-lateral lender) has not changed it’s demand that multi-lateral lender “haircuts” similar to the haircuts to be suffered by other creditors, must be imposed when re-structuring sovereign debt.
  4. A committee of Sri Lanka’s international private creditors send its first “debt rework proposal” to the country’s authorities regarding over USD 12 bn in international sovereign bonds outstanding.
  5. OPA President Ruchira Gunasekera and General Secretary Sujeewa Lal Dahanayake say there is a constitutional responsibility to protect the independence of the Judiciary and ensure that the rule of law is not undermined: OPA is the apex body of 52 Professional Associations in Sri Lanka.
  6. Local fisherfolk submit petition with the Karaikal collector seeking the Govt’s urgent intervention on the grounds that vessels impounded by the Navy are reduced of their seaworthiness from neglect while in custody.
  7. Authorities yet unable to confirm the nature of the tar-like substance that is washing up on the shores of Trinco since 12 April: National Aquatic Resources Research and Development Agency and the Marine Environment Protection Authority launch separate investigations.
  8. Analysts claim the Sinhala & Tamil New Year “kevili” sweet food table cost has increased by at least 2.4 times since 2019.
  9. Ministry of Sports seal the Sri Lanka Rugby Headquarters in Torrington: move comes days after Minister of Sports Roshan Ranasinghe appointed a standing committee after dissolving SLR in accordance with certain provisions of the Sports Act.
  10. Police record statements from 15 CB personnel over the disappearance of a massive amount of cash from the Central Bank vaults: missing money was allegedly in a safe in the 3rd underground vault of the Central Bank, built with the most advanced and secure security systems.

Air Seychelles to Launch New Service to Sri Lanka and Partner with Sri Lankan Airlines

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Air Seychelles, the State-owned national flag carrier for Seychelles, has announced plans to launch a new international service from Mahe to Colombo, Sri Lanka, starting on June 20. The carrier will operate the service twice a week with its Airbus A320neo airliners, configured to carry 12 business class and 156 economy class passengers. The return flights from Colombo will be operated on Wednesday and Sunday mornings.

Air Seychelles will also partner with Sri Lankan Airlines, giving its passengers access to more than 20 destinations across Asia and Australasia, including Bangkok, Kuala Lumpur, Melbourne, Singapore, Sydney, and Tokyo. The partnership will enable travellers to purchase a single ticket for travel beyond Colombo to other destinations in the region.

Air Seychelles already operates international services to Johannesburg, Mauritius, Mumbai, and Tel Aviv, and scheduled domestic services with up to 30 roundtrips each day between Mahe and Praslin, as well as charter flights to other islands in the archipelago. The carrier’s acting CEO, Sandy Benoiton, highlighted that the new destination to Colombo will reinforce the regional service and provide enhanced connectivity to Southeast Asia and beyond.

Ambassador of Sri Lanka visits West Java Craft Council of Indonesia

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Ambassador of Sri Lanka to Indonesia Admiral Prof. Jayanath Colombage accompanied by the Embassy’s Second Secretary (Commercial) and the Public Diplomacy Officer of the Embassy visited the West Java Craft Council

The Ambassador highlighted the contribution made by the craft industry to the growth of the economy and requested training for Sri Lankan craftsmen in the field of batik and rattan. The officials of the West Java Craft Council invited Sri Lankan craft industry representatives to participate in their upcoming exhibition in June. They also suggested entering into an MoU to provide training for the Sri Lankan craft industry including proposals for collaboration between the craft industries of the two countries.

The West Java Craft Gallery displays craft items produced in 27 districts of the West Java province. A team of officials from West Java Craft Council participated in the meeting including Head of the Department of Trade and Industry Department of West Java Noneng Komara Nengsih, West Java Dekranasda Deputy Secretary II Dr.Dian Agustin and Trade Shows, Exhibitions, Seminar, and Training Organizer Darningsih Rustiadji .

Showers to be expected in several provinces today

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Showers or thundershowers may occur at a few places in Western, Sabaragamuwa, Southern and North-western provinces and in Kandy and Nuwara-Eliya districts during the afternoon or night.

Mainly fair weather will prevail elsewhere over the island.

General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka during 05th to 15th of April in this year. The nearest areas of Sri Lanka over which the sun is overhead tomorrow (15th) are Nallur, Paranthan and Chundikkulam at about 12:10 noon.

Asia Rugby lifts the suspension of Sri Lanka Rugby.

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By: Staff Writer

Colombo (LNW): In a favourable move for the country , Asia Rugby has made the prudent decision to reinstate Sri Lanka Rugby as a full member of Asia Rugby.

The decision comes upon consideration of the Sri Lanka Ministry of Sports and Youth Affairs confirming the cancellation of the gazette notification dated 01 April 2022.

During its meeting on April 9th, 2022, in Phuket, Thailand, the Asia Rugby Executive Committee (EXCO) temporarily suspended Sri Lanka Rugby’s membership.

On 01 May 2022 EXCO unanimously ratified the decision and imposed a full membership suspension.

Asia Rugby President Qais al Dhalai stated, “The EXCO’s decision to suspend Sri Lanka Rugby’s membership was made in accordance with Asia Rugby’s Articles and Regulations to maintain our principles of equality, transparency and accountability.

He noted that he is pleased to hear about the withdrawal of the gazette notification, making it possible for Asia Rugby to lift the suspension.”

Qais further added, “We look forward to welcoming Sri Lanka teams back to Asia Rugby competitions

At its meeting on the 9th of April 2022 in Phuket, Thailand, the Asia Rugby Executive Committee (EXCO) has discussed at length the contrary positions of the Sri Lanka Ministry of Youth and Sports, and the Sri Lanka National Olympic Committee in relation to the suspension of Sri Lanka Rugby.

Sri Lanka Rugby was suspended by the then Sri Lankan Minister of Youth and Sports Namal Rajapaksa as announced via an official Government Gazette dated 1st April 2022 .

This was informed to the National Olympic Committee via an official letter signed by the Secretary-General which recognized the Sri Lanka Rugby as the sole representative of the sport of rugby in Sri Lanka.

The Executive Committee concluded that, in accordance with Asia Rugby Regulation 3, the membership of the Sri Lanka Rugby will be temporarily suspended from the Regional Association with immediate effect until further notice

It was imposed on the basis that the Sri Lanka Rugby may no longer be considered as fully responsible for the organisation of rugby-related matters in its jurisdiction; or it is no longer in a position to perform its constitutional and regulatory duties in an appropriate manner.

Japan, India and France Unveil Joint Platform to Coordinate Sri Lanka’s Debt Restructuring

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On Thursday, Japan, India and France announced a new platform to coordinate talks among bilateral creditors for the purpose of restructuring Sri Lanka’s debt. The move is intended to serve as a model for solving the debt problems of middle-income economies, according to a report by Reuters. The initiative, launched by Japan as this year’s G7 chair, aims to begin a series of meetings among Sri Lanka’s creditors, with the first round scheduled to take place “as soon as possible”, said French Director General of the Treasury Emmanuel Moulin during a briefing.

However, it remains unclear whether China, Sri Lanka’s largest bilateral creditor, will join the initiative. According to official government data, Sri Lanka owes $7.1 billion to bilateral creditors, with China being owed $3 billion, followed by $2.4 billion to the Paris Club and $1.6 billion to India. In addition, the government also needs to renegotiate more than $12 billion of debt in eurobonds with overseas private creditors and $2.7 billion on other commercial loans.

The new platform’s launch has put pressure on major economies to come up with an alternative scheme to address the debt restructuring issue in Sri Lanka. Japanese Finance Minister Shunichi Suzuki said the establishment of the negotiation process is a “historical outcome” as the committee is open to all creditors. It remains to be seen how this initiative will affect Sri Lanka’s debt burden and economic outlook in the long run.

Bangladesh and Sri Lanka to enhance bilateral cooperation in various sectors

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By: Staff Writer

Colombo (LNW):Bangladesh and Sri Lanka can greatly enhance bilateral cooperation in the areas of investment, agriculture, fisheries, pharmaceuticals, maritime connectivity and higher education, Bangladeshi Prime Minister Sheikh Hasina said on Wednesday.

She was speaking to outgoing Sri Lankan High Commissioner Prof Sudharshan Seneviraine when he made a farewell call on her at her official residence, Ganabhaban, according to Bangladeshi PM’s Press Secretary Ihsanul Karim.

The prime minister said Bangladesh attaches high priority to its relations with its neighbours, particularly with Sri Lanka, which are based on historical bonds and a multitude of commonalities.

She said Bangladesh emphasizes maintaining good relations with its neighbours, including Sri Lanka.

Sheikh Hasina said 90% of the development programs of Bangladesh are funded by domestic resources.She mentioned that the development pace in the country was hampered by the Covid-19 pandemic.

“Bangladesh is working hard to recover from this setback,” the spokesperson quoted the prime minister as saying.She congratulated the high commissioner on the successful completion of his tour of duty in Bangladesh.

The outgoing Sri Lankan envoy highly appreciated the socio-economic development of Bangladesh under the leadership of Sheikh Hasina.

He said the implementation of mega projects like the Padma Bridge, and Matarbai and Payra coal-fired plants will help Bangladesh become a hub of regional connectivity.“Both put emphasis on the blue economy,” Karim said.

The Sri Lankan high commissioner said his country is keen to cooperate with Bangladesh in trade, tourism, deep sea port and pharmaceutical sectors.He praised Bangladesh’s success in maintaining balance in its foreign policy.

Ambassador-at-Large M Ziauddin and Principal Secretary to the Prime Minister Md Tofazzel Hossain Miah were present at the meeting.

The diplomatic ties between Bangladesh and Sri Lanka have grown from strength ro strength over the period through impressive cooperation in political, economic, cultural, educational and defense grounds.

Successive Governments in both countries have leveraged their persistent efforts for enhancing this relationship..

The two South Asian nations are also signatories to regional trade agreements namely the South Asian Free Trade Agreement (SAFTA) giving Bangladesh and Sri Lanka preferential market access to over 1.6 billion people.