President Gotabaya Rajapaksa has delivered a special invitation to all political parties representing Parliament to accept ministries in assisting the mission to resolve the current crisis.
In a statement issued by the President’s Media Unit, he urged that all parties must unite as a national effort to resolve the national crisis which according to him has occurred due to the economic crisis befallen the country and other global issues.
MIAP
Ajith Nivard Cabraal confirmed that he will be resigning from his post as the Governor of the Central Bank of Sri Lanka (CBSL).
In a tweet, Cabraal noted that he has submitted his resignation to the President.
MIAP
Public protests demanding the stepping down of the President and the government continue to grow and a number of protest have been organised in various parties of the country today (04) as well.
Meanwhile, a group of Sri Lankan artists have also staged a peaceful protest near the Diyatha Uyana park.
Photos: Kasun Pussewela (Facebook)
Unorganised people with no political affiliation are taking to the streets demanding the stepping back of President Gotabaya Rajapaksa and not any Cabinet swap or a coalition government, said Leader of the Janatha Vimukthi Peramuna (JVP) MP Anura Kumara Dissanayake, speaking to a briefing.
Any Cabinet swap or the formation of a coalition government does not serve the purpose of solving the crises befallen the country, the JVP Leader emphasised, adding that a person who is unable to face the public amidst protests or even set foot out in the open is not suitable to serve as the leader of the country.
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During the discussion held at Temple Trees yesterday (03) under the patronage of Prime Minister Mahinda Rajapaksa, all the Cabinet Ministers decided to step back from their ministries and signed a letter, said Dinesh Gunawardena.
The Minister added that this letter was handed over to the Prime Minister yesterday itself and a copy will be handed over to President Gotabaya Rajapaksa today (04). The matter will be discussed between the President and the Prime Minister as well, he noted.
Despite the Entire Cabinet of Ministers’ resignation, Mahinda Rajapaksa will continue to serve as the Prime Minister, Gunawardena went on, adding that despite the Cabinet Ministers’ resignation, no decision on State Ministers has yet been taken.
As of now a number of Cabinet Ministers including Namal Rajapaksa and Mohammed Ali Sabry have publicly acknowledged their resignations. In addition, SLFP Secretary General Dayasiri Jayasekara has also confirmed his resignation in a letter addressed to the President.
MIAP
Public protests demanding the dismissal of President Gotabaya Rajapaksa and the government continue for a fifth day today (04).
People of Ja Ela area took to the streets early in the morning demanding the government and the President to resign.
MIAP
A number of anti-government protests are due to continue in many parts of the country today (04).
Islandwide curfew was imposed for two consecutive days in prevention of these anti-government protests, but people were seen taking to the streets avoiding the curfew, demonstrating their exhaustion against the regime.
In the midst of these growing public protests, the entire Cabinet of Ministers decided to step back, last night’s media reports claimed.
However, these protestors have been demanding from the beginning that it was President Gotabaya Rajapaksa himself who should resign. The demonstrations against the government intensified due to the non-application of any solid solution to the ongoing fuel shortages and power cuts, whilst making it clear that they do not agree with a caretaker government reinstating the corrupt ministers in the current regime either.
The protests, therefore, are likely to continue and grow, notably without any leadership of a political party.
MIAP
Police are seeking the public’s help to arrest two suspects in connection with arson attack on a bus and other vehicles during the protests near the President’s private residence in Mirihana Nugegoda on Thursday (March 31), in complete contradiction with the President’s Media Unit’s statement on the incident, claiming it to be committed by a group of ‘extremists’ looking for an ‘Arab Spring’ in Sri Lanka.
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The islandwide curfew has been lifted at 6 am today (04).
Accordingly, the public transport services which came to a halt since 6 pm last Saturday have resumed.
All train operations will also continue from 6 am this morning, said the Railway Department.
Private buses will also be operating as usual today, said President of the Ceylon Private Bus Owners’ Association, Gemunu Wijeratne.
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The Government is back in the debt market with the issuance of US dollar denominated Development Bonds (SLDBs) at high interest rates for investors soon as it desperately seeks more dollars, Finance Ministry sources confirmed.
The Central Bank has already announced the latest Development Bond issue notifying investors’, exporters of goods and services, expat workers and US dollar holders and these notices will be applicable till the auction of such securities. It has introduced various measures to encourage investments in SLDBs.
A wide publicity campaign is now being implemented to woo prospective investors and buyers of development bonds with a repayment period of 7 to 57 months, a top Treasury official said.
The expected amount to be raised by issuing these SLDB’s has not been stipulated as all those securities will be short term bonds with maturity periods of 7, 10, 13, 22, 25, 34, 46, 52 and 57 months, he added.
The interest rates range from 8.5 per cent to 8.95 per cent and the repayment will be made within a short period. “In collaboration with certain Sri Lankan overseas missions, the Central Bank has also made contact with eligible investors in those jurisdictions to further popularise investments in SLDBs,” he disclosed.
According to Central Bank sources, an issuance window for SLDBs will be opened with the announcement of the auction results until close of business of the business day prior to settlement at a first-come-first-served basis. But the date of issuance of these bonds and the expected minimum amount is yet to be announced.
As a result of the previous publicity campaign and the effectiveness of the measures introduced by the Central Bank, a sum of US$ 111.5 million has been raised through direct issuance of SLDBs from January 1 to February 15, 2022.
The Central Bank raised $152.54 million via the issuance of six-month SLDBs on March 14 this year, a bank statement revealed. The SLDB auction was for $50 million at fixed rate with a possible upsizing by an additional three times based on favourable market response.
The 6-month tenor of SLDBs received bids worth $ 162.54 million of which $152.54 million was accepted at the Weighted Average Fixed Rate of 9.48 per cent. In the January auction five months tenor rate was 7.70 per cent.
The one year instrument received bids worth only $2.50 million and the rest of the tenor (One year 10 months, two years 10 months and four years nine months) didn’t receive any bids.
