Changyong Rhee, Asia Pacific Director of the International Monetary Fund (IMF) who is currently on a visit to Sri Lanka has called on Finance Minister Basil Rajapaksa this (14) afternoon. The meeting was participated by Finance Secretary S.R. Attygalle as well.
Rhee is set to visit President Gotabaya Rajapaksa tomorrow and is expected to brief the President on the IMF’s assessment on the economic situation of the country.
The IMF Asia Pacific Director stated that no request for fiscal assistance has been received from Sri Lanka to date and that he is ready to discuss about alternatives, should such a request be received.
The bus fares have been revised effective from midnight today (14). Accordingly, the revised bus fares have been published by the National Transport Commission this evening.
The minimum bus fare has surged up Rs. 20, rising from Rs. 17.
The maximum bus fare has surged up to Rs. 1498, rising from Rs. 1303.
Accordingly, the bus fares have been increased by 15 per cent.
Remittances from migrant workers have surged by 400 per cent in the past week, days after the US Dollar being allowed to float, CBSL sources disclosed.
Accordingly, the decision taken by Finance Minister Basil Rajapaksa and Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabral to allow the US Dollar to float despite endless criticisms is coming into effect, believed to be having a positive impact on the country’s economy.
The surge of foreign remittances by 400 per cent has been confirmed by sources from the People’s Bank and the Bank of Ceylon (BOC) as well.
Mr Sullivan, seen here in a file picture, warned that the US would not allow China to provide a “lifeline” to Russia
China will face consequences if it helps Russia evade sanctions in its invasion of Ukraine, the US says.
Unnamed US officials reportedly told multiple news outlets that Russia had asked China to provide military assistance after it began the invasion.
The Chinese foreign ministry did not address the allegation directly, but accused the US of maliciously spreading disinformation about China.
The exchanges come before top US and Chinese officials meet in Rome.
US media outlets, citing Washington officials, say that Russia has in recent days asked China specifically for military equipment, including drones.
In a CNN interview, US National Security Adviser Jake Sullivan said they were “communicating directly, privately to Beijing that there will absolutely be consequences for large-scale sanctions evasion efforts or support to Russia to backfill them”.
“We will not allow that to go forward and allow there to be a lifeline to Russia from these economic sanctions from any country, anywhere in the world,” he said.
He added that while the US believed China was aware that Russian leader Vladimir Putin was “planning something” before the invasion happened, Beijing “may not have understood the full extent of it”.
Image caption, Russia’s military action is now in its third week and has horrified much of the world
“Because it’s very possible that [Mr] Putin lied to them the same way that he lied to Europeans and others,” Mr Sullivan said.
In response, a spokesman for the foreign ministry in Beijing, Zhao Lijian, said the US had “been spreading disinformation targeting China on the Ukraine issue, with malicious intentions”.
Asked if he could clarify whether China had received a request for military help from Russia, Mr Zhao said this was “fake news” but did not deny it directly.
He added that China’s stance had always been consistent and that China was playing a constructive role in promoting talks.
Mr Sullivan is due to meet Yang Jiechi, a member of China’s top decision-making body, the Politburo, and head of the Central Foreign Affairs Commission, on Monday in Rome.
Reuters news agency quoted a US official as saying that during the meeting, Mr Sullivan would spell out the consequences and isolation China would face if it increased support for Russia.
China has so far refrained from condemning Russia for the invasion and has said Moscow’s “legitimate security concerns” should be taken seriously.
When the United Nations General Assembly voted to condemn Russia’s invasion earlier this month, China was one of 35 countries that abstained.
But Beijing at the same time has expressed “unwavering support” for Ukraine’s sovereignty. It has also called for peace and has said it is ready to help end the war through diplomacy. Several countries have urged China to do more to stop Russia’s invasion.
The EU and US help Ukraine, China helps Russia; if that’s how this goes, then it’s a delineation that will make the war in Ukraine an even more consequential one.
The White House has decided to make public its claim just as President Biden’s top security adviser is due to meet China’s most senior diplomat. It appears to be a tactical move, to put pressure on China; presumably to either confirm or deny it.
The bigger aim could be to try to make Xi Jinping weigh up the pros and cons to his current position of what was last week called a “rock solid” relationship with Moscow.
Remember that it was just weeks ago, as the Winter Olympics opened in Beijing, that Presidents Xi and Putin declared a new alliance that had “no limit”. Military aid could, clearly, be part of that.
But in the days after Russia’s invasion China has condemned the UK, the US and others for giving weapons to Ukraine’s military, saying they were adding “fuel to the fire”.
If the US intelligence assessment is correct and Beijing follows through on that request, then they too would be “adding fuel”.
The Medical and Civil Rights Professional Association of Doctors (MCPA) in a letter addressed to the State Minister of Production, Supply and Regulation of Pharmaceuticals Channa Jayasumana urged that the public be informed of the truth about the shortage of medicines.
The public should informed of whether a shortage of medicines will be occurred in the future in the event that reports are surfacing that the stocks held by the public and private sectors are not sufficient for future times, the Union pointed out in its letter.
Adding that the people are too afraid of the occurrence of any shortage of medicines, the Union revealed that some of them are even collecting their own stocks of medicines exceeding the required amounts amid the fear, which can worsen the situation.
In the backdrop, informing the pubic about the actual situation would be necessary, should they not be worried, the MCPA stressed.
The prices of all essential and non-essential commodities are soaring amid the growing economic crisis in the country. Reports claimed that the prices of commodities which used to go up by limited amounts have now surged even by 25 – 50 per cent at once.
Meanwhile, the value added tax (VAT) which was curbed to 08 per cent upon the coming of President Gotabaya Rajapaksa in 2019 is reportedly being considered for a surge up to 15 per cent, leading to a possible second strike on the commodity prices.
Currently two top envoys of the International Monetary Fund (IMF) are in Sri Lanka offering a number of conditions to provide debt assistance to overcome the crisis.
The IMF’s first and foremost condition is to surge the Goods and Services Tax, which was reduced from 15 per cent to 08 per cent, back to 15 per cent, a mandatory requirement to be able to obtain a IMF-led debt facility.
The decision to exempt all services related to the Tourism Sector from the VAT in 2019 may also have to be reversed as per the terms of the IMF.
The case filed in connections with the hand grenade recovered at the All Saints Church in Borella was taken up before the Colombo Magistrate Court today (14).
The hand grenade was recovered in January 11 and a number of suspects were arrested during the investigations.
Three suspects including the retired medical officer were produced before the Court today and sentenced to be further remanded till March 29.
Minister of Water Supply Vasudeva Nanayakkara has reportedly handed over his official residence and the official vehicle to the Ministerial Secretary, weeks after the anti-governmental ideologies appeared from the minor parties representing the SLPP-regime.
Nanayakkara stated that by doing so, he will be living in a private residence and using a vehicle given to him by his brother.
Following the dismissal of former Ministers Wimal Weerawansa and Udaya Gammanpila from the Cabinet, Nanayakkara decided to refrain from his ministerial duties and boycott the Cabinet sittings.
Accordingly, the Minister is of the view that it is not ethical to use the residence and the vehicle given to him by the government.
Should the government not implement the resolution handed over by the Sri Lanka Freedom Party (SLFP) to President Gotabaya Rajapaksa, a decision may have to be taken, said Minister Mahinda Amaraweera, Senior Vice Chairman of the SLFP, addressing the SLFP Monaragala District convention yesterday (13).
“Father is at the fuel queue in the morning, mother is at the gas queue, son at the milk powder queue. This is the country’s situation today. We had spoken of this situation earlier. The President invited us for a discussion. With the questions, we have provided the answers to this government on how to save the country from the situation befallen it. Should that be implemented, the country may be saved, otherwise, driven backwards. If a country is driven backwards or being destroyed, there is no point of us staying the government with holding ministries. These titles are not worth to us.”
