The Committee on Public Finance (CoPF) chaired by MP (Dr.) Harsha De Silva, three days ago (23) stressed that the aim of the committee regardless of allegiances will be to stand by the reforms promulgated by the International Monetary Fund (IMF) and being executed by the Central Bank of Sri Lanka (CBSL).

This comes in the wake of a CBSL confirmation that they are confident of having an actual IMF first tranche disbursement within the 1 st Quarter of 2023. CoPF queried the severe social implications of such steep mechanisms to adhere to IMF conditions.

The CBSL responded by confirming that the IMF are wary about the social impact to vulnerable communities and has invoked certain safeguards such as expenditure ceilings to negate those effects.

When queried as to the adverse effects of market contraction due to the stifling interest rates, the CBSL acknowledged that those measures have been taken to limit growth in order to prevent the need for greater foreign exchange given the dwindling amount currently in the country. They went on to reiterate that with a cash infusion via the Extended Fund Facility (EFF) from IMF, interest rates can once again be relaxed, and the market will once again have an opportunity to expand. When the question of alternatives to an IMF bailout were reached, the CB stressed that no other international financing/funding institute is willing to partner with Sri Lanka on its debt management unless they see an IMF partnership materialise first. With the ostensible debt treatment measures that an IMF program accompanies, it reassures international agencies of Sri Lanka’s credibility to once more partner with the country for future ventures including debt management. This is why the CBSL stresses that it is imperative for Sri Lanka to lock in the bailout.

State Minister Suren Raghavan, MPs Anura Priyadarshana Yapa, Rauf Hakeem, Chandima Weerakkodi, Harshana Rajakaruna, Vijitha Herath, Mayantha Dissanayake and Madhura Withanage were present at this committee meeting.

An All-Party Conference is scheduled to be held today (26) at 4.00 pm at the Presidential Secretariat with the participation of all party leaders representing the Parliament, under the patronage of Hon President Ranil Wickremesinghe. The purpose of this conference is to come to a consensus and strengthen national harmony.

The Speaker, the Prime Minister, the Leader of the Opposition, as well as former Presidents Mahinda Rajapaksa and Maithripala Sirisena, Tamil National Alliance Leader R. Sampanthan, National People’s Force Leader Anura Kumara Dissanayake, and all party leaders representing Parliament, have been invited.

Following Hon. President Ranil Wickremesinghe’s appointment as President, a meeting of party leaders was called on December 13, where the program to improve national harmony was discussed. During this meeting of party leaders, it is expected to discuss these issues further and reach an agreement among them.

PMD

1. Pivithuru Hela Urumaya leader Udaya Gammanpila proposes payment of wages on a weekly basis for public and private sector workers: claims it would help the cash-strapped govt and private sector to cope up with the continuing economic crisis.
   
2. CB Governor Dr Nandalal Weerasinghe says the Central Bank prevented the contraction of the economy by hiking interest rates: analysts contradict the Governor and say it’s universally acknowledged that interest rates are lowered to stimulate growth and increased to curtail growth.
   
3. CB Governor Dr Nandalal Weerasinghe says Sri Lanka suppressed interest rates for 2 years by “printing” large volumes of money before he took office: CB data shows in the first 269 days of Weerasinghe’s tenure upto 31Dec’22, “money printing” by the CB had been Rs.868 bn at an average of Rs.3.2 bn per day, which is 45% higher than during the tenures of his 2 immediate predecessors.
   
4. Ven. Thiniyawela Palitha Thera withdraws private plaint filed by him against former CB Governor Ajith Nivard Cabraal in the Fort Magistrate’s Court: Fort Magistrate Thilina Gamage dismisses case.
   
5. China’s Exim Bank offers a 2-year “moratorium” on its loans to Sri Lanka: India also had previously agreed to a “maturity extension” of its loans to Sri Lanka: no mention of agreement to suffer any “haircuts” on its loans: analysts point out that IMF’s requirement of “Debt Sustainability” will not be possible without substantial haircuts by both bilateral and private creditors.
   
6. Motor Traffic Department says a method of issuing the driving licence to the mobile phone, is being formulated.
   
7. Armed gang robs an ATM of a private bank in Gampola by threatening the security officer at gunpoint.
   
8. Newly constituted Constitutional Council meets for the first time, presided by Speaker Mahinda Yapa Abeywardana: PM Dinesh Gunawardena and Opposition Leader Sajith Premadasa also participate.
   
9. Elections Commission Member Ms. P S M Charles tenders resignation to the President: rumors abound of deep divisions within the EC over several issues including the holding of the LG Election.
   
10. Health Ministry admits the country’s health care system is facing a severe shortage of over 140 essential medicines, including 43 “cancer” drugs: Health Secretary Janaka Chandragupta says purchase orders have been placed for the medicines that are in short supply.

Newly appointed Ambassador of Sri Lanka to Japan E. Rodney M. Perera presented the Letters of Credence to His Majesty Naruhito at the Imperial Palace in Tokyo on 19 January 2023. The Credentials Presentation Ceremony is one of the most solemn and formal ceremonies held by His Majesty the Emperor of Japan.

Escorted by the Master of Ceremonies of the Imperial Household Agency, Ambassador Perera was driven in a custom-built limousine courtesy of His Majesty from the historic Tokyo Station to the Imperial Palace.

At the outset of the formal occasion, His Majesty the Emperor conveyed warm greetings and best wishes to President Ranil Wickremasinghe and the Sri Lankan people which was warmly acknowledged by Ambassador Perera.  After the formal presentation of his credentials in the presence of the Minister of Defense Yasukazu Hamada representing the Prime Minister and the Government of Japan, Ambassador Perera was afforded the opportunity to engage in an informal conversation with His Majesty Naruhito.

Ambassador Perera joined the Sri Lanka Foreign Service in 1988 and brings with him four decades of professional education, research, global travel, speaking opportunities, and interactions concerning Sri Lanka’s relations with the rest of the world. Ambassador Perera is an alumnus of St. Joseph’s College of Colombo, and has a Bachelor of Business Administration in Management Information Systems, a Master of Arts Degree in International Studies from Columbia University in New York. He has also completed specialized study programs at reputed institutions in Sri Lanka and in other countries, including, Harvard University and the National Defence University in Washington DC.

Ambassador Perera’s first overseas diplomatic assignment was at the Embassy of Sri Lanka in Tokyo as Second Secretary from 1989 to 1992. Thereafter, he served as First Secretary of Sri Lanka’s Permanent Mission to the United Nations in New York; Acting High Commissioner of the Sri Lanka High Commission in Nairobi, Kenya (concurrently accredited to UN environment and housing agencies).He was Sri Lanka’s Ambassador in Italy (concurrently accredited to Cyprus, Greece and Malta along with Rome-based UN Agencies in food and agriculture), Norway, Belgium (concurrently accredited to Luxembourg), and the European Union and Sri Lanka’s Ambassador to the United States of America in Washington D.C. until the end of 2020.

Embassy of Sri Lanka

Tokyo

25 January , 2023

On 24 January 2023, High Commission of India in Colombo organized a Rock Band concert- ‘Rhythm of Harmony’ to commemorate the 74th Republic Day of India falling on January 26, 2023. The President of Sri Lanka H.E. Mr. Ranil Wickremesinghe graced the event as the Chief Guest. A renowned Rock band from India- UDX led by Inakhu Atoshe Ayeh, collaborated with a Sri Lankan band, Stigmata led by Suresh De Silva for this special event. Several Sri Lankan Ministers, Members of Parliament, members of the diplomatic corps, Indian diaspora and other dignitaries were present at the occasion.

2.   UDX a seven-member band, which performed in Sri Lanka for the first time, hails from a province in the North-Eastern part of India, Nagaland, known for its musical talent. With the 75^th Independence Day of Sri Lanka being commemorated on February 4, 2023, performance by artists from UDX and Stigmata together was a fitting tribute to the joint celebrations of the national days of India and Sri Lanka. The event reflected the close links between the two countries in the field of art and culture.

3.     In the next few days, UDX will travel around the Island and give performances at Jaffna, Kandy and Hambantota.

***

Colombo

25 January 2023

Ambassador-designate of Sri Lanka to the Federal Democratic Republic of Ethiopia K.K.Theshantha Kumarasiri assumed duties at the Embassy of Sri Lanka in Addis Ababa on 18January 2023.

Addressing the Embassy staff upon assumption of duties, the Ambassador-designate stated that there was a renewed focus on expanding Sri Lanka’s relations with countries of the African Continent. In this regard, Ethiopia is an important partner both from political and economic perspectives as well as reaching out to other African countries given its central role as the headquarters of the African Union.

Ambassador-designate, K.K.Theshantha Kumarasiri counts 20 years in the Sri Lanka Foreign Service, having served in Sri Lanka Embassy in Brazil, South Korea, France and Permanent Delegation of Sri Lanka to UNESCO in Paris.

He is a graduate of the University of Kelaniya and has Masters in Human Rights & Democratization from the University of Colombo, Sri Lanka.

Embassy of Sri Lanka                                                                         

Addis Ababa

23 January 2023

Sri Lanka’s importers and exporters have now been given opportunity to obtain import or export licences without any hassel following the giovernment’s decsison to implent e-licencing system at at the Import and Export Control Department.  

Cabinet of Ministers approves proposal submitted by President Ranil Wickremesinghe in his capacity as the country’s finance minister to introduce this new system to boost efficiency and transparency in services offered by Department.

Cabinet Co-Spokesman and Minister Bandula Gunawardena said automated workflow processes will ease international trade facilitation.

US Department of State EXBS program assures to provide Starlink IT system worth over US $ 280,000 to enable e-license issuance process.

“Import and Export Control Department has completed preparation for a new automated computerised system and online submission of applications to ensure efficient and effective service to the trade community. 

Automated workflow processes will improve international trade facilitation,” Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday.

He also said that the Export Control and Border Security Program operating under the United States Embassy has agreed to provide the Information Technology System ‘STRATLINK’ worth $ 280,000 along with the complete source code to the Department of Import and Export Control as a donation.

 The Government intends to boost its productivity and clarity of services by implementing the e-licensing procedure with collective support from other departments and organisations such as Sri Lanka Customs, Excise Department, Department of Motor Traffic, Board of Investment and National Medicines Regulatory Authority and Sri Lanka Standards Institute.

Noting that the department plays a major role in the economy as a regulatory body which is responsible for the imports and exports being subjected to a license requirement, Gunawardena said before 1977, there were many restrictions for imports and exports which resulted in a heavy volume of work for the department. 

However, in the post-open economy, the workload of the department moderated.“Amidst the COVID pandemic and foreign exchange crisis, the department resumed the heavy workload again. 

Against this backdrop the Import and Export Control Department initiated the fully automated license issuing process to enhance its productivity and transparency,” he added. 

The Cabinet Co-Spokesman also noted that the department issues around 17,000 licences annually.He said  the system will provide enhanced security and information tracking.

Standardisation of import and export items is conducted to protect local industries, the environment and the people of the country. Money laundering is also controlled by implementing necessary policy frameworks together with the exchange control department.

“Compliance with international trade policies and modern e-technologies Import and Export Control Department is trying to upgrade licensing and service providing a process to esteemed levels by satisfying clients as well as sustaining national development objectives,” Gunawardena stressed.

The Ministry of Culture and tourism of China announced on 20 January 2023 that Sri Lanka will be included among the countries in its outbound tourism pilot programme which will commence from 6 February 2023.

Only a limited number of countries have been included in this list and this listing is a reflection of the close bonds between the two countries. The Embassy has consistently made representations to have Sri Lanka included in such a list.

The tourism industry of Sri Lanka which suffered a catastrophic decline following the Covid19 pandemic now has the opportunity to recover rapidly. In 2019, 169 million Chinese nationals travelled outside the Chinese mainland. Today there is a tremendous pent up urge to travel among the Chinese and large numbers are expected to undertake vacation travel.

The Sri Lanka Embassy in Beijing is continuing its multi faceted efforts to promote Sri Lanka tourism despite the limited resources available, including during Ambassador Dr Palitha Kohona’s visits to different provinces and cities. The electronic (TV) and the print media (including the national dailies) as well as widely popular social media platforms of Douyin, Tiktok and Alibaba are also regularly used to promote Sri Lanka. The Embassy has also established working relations with over 12 leading travel operators. Talks are at an advanced stage to shoot a feature film highlighting Sri Lanka’s fabled tourist attractions, including its world renowned Buddhist sites, abundant wild life, tea covered mountains, precious gems, pristine beaches, hospitality etc.

The Charge de Affairs of the Embassy, K.K.Yoganaadan, welcomed the announcement of the Chinese government. He encouraged Chinese travellers to choose Sri Lanka as it’s a very popular tropical destination especially during the winter months.

Ambassador Dr. Kohona stated that the re emerging tourism industry will be a welcome boost to the economy of Sri Lanka and expressed his appreciation to the Chinese government for including Sri Lanka in the pilot programme.

The countries listed for travel by the Chinese government are Thailand, Indonesia, Cambodia, Maldives, Sri Lanka, Philippines, Malaysia, Singapore, Laos, United Arab Emirates, Egypt, Kenya, South Africa, Russia, Switzerland, Hungary, New Zealand, Fiji, Cuba and Argentina.