September 28, Colombo (LNW): Japan has committed to fully supporting Sri Lanka’s anti-corruption efforts and development goals, a priority of President Anura Kumara Dissanayake’s administration. 

Japanese Ambassador to Sri Lanka, Mizukoshi Hideaki, expressed this during a meeting with the Secretary to the President, Dr. Nandika Sanath Kumanayake. The ambassador reaffirmed Japan’s readiness to work closely with Sri Lanka, especially in combating corruption, which has been a central theme for the current administration.

In a significant development, the Japanese government announced the resumption of 11 stalled infrastructure projects in Sri Lanka, including key initiatives like the Kandy City Water Management Project and the Bandaranaike International Airport (BIA) Development Project. Other projects set to resume include improvements in healthcare, water supply, rural infrastructure, and the National Transmission and Distribution Network.

 These projects, once stalled due to financial instability, will restart following Sri Lanka’s successful foreign debt restructuring, allowing Japan to continue its yen loans and funding for the country’s recovery efforts.

Ambassador Mizukoshi highlighted the near completion of several Japanese-funded projects, such as the first phase of the Habarana-Veyangoda transmission line and the Anuradhapura North Water Supply Project. Japan’s recent funding efforts will also help finalize payments for the completed Kelani Ganga New Bridge construction.

The resumption of funding follows a Memorandum of Understanding (MOU) signed between the Official Creditor Committee (OCC) and Sri Lanka on July 23, formalizing a bilateral debt restructuring agreement. Japan, which has been a strong supporter of Sri Lanka’s debt restructuring, co-chairs the OCC alongside France and India. 

Ambassador Mizukoshi noted that Japan is the first country to resume financing for suspended projects, with an initial tranche of $75 million for the eleven projects. This move is expected to unlock additional financing from countries like Korea, Spain, and Germany, as well as multilateral agencies.

Japan’s total loan portfolio in Sri Lanka is valued at $2.36 billion, with another $1.1 billion committed over the next five years for ongoing projects. Since 1965, Japan has provided $8.8 billion in Official Development Assistance for 120 projects in Sri Lanka.

Relations between the two nations had been strained in recent years due to Sri Lanka’s previous government canceling a Japan-India development project. However, Japan’s resumption of funding reflects a renewed commitment to supporting Sri Lanka’s economic recovery following its financial crisis.

Currently, eleven projects valued at approximately $2.5 billion are being implemented under JICA loan assistance in sectors such as power, water supply, drainage, ports, transport, health, telecommunication, and rural development.

 Despite Sri Lanka’s economic and political issues, JICA has continued to support various projects, including a $300 million technical cooperation project with the Ministry of Health to combat COVID-19. This project provided essential equipment and training to targeted hospitals.

A senior finance ministry official confirmed that Japan’s recession would not impact JICA projects in Sri Lanka, as these were prior commitments. The Anuradhapura North Water Supply Project, backed by JICA, will also proceed unaffected by Japan’s economic situation.

September 28, Colombo (LNW): Sri Lanka’s central bank opted to keep its interest rates unchanged on Friday, a decision expected by many due to the ongoing domestic and global uncertainties. 

The Central Bank of Sri Lanka (CBSL) held the Standing Deposit Facility Rate at 8.25% and the Standing Lending Facility Rate at 9.25%. Despite these challenges, CBSL noted that inflation is projected to remain low, and the nation’s economy is performing better than anticipated.

CBSL Governor P. Nandalal Weerasinghe reported that the economy is expected to grow by over 3%, though no formal revision to the 2024 GDP forecast has been made yet. However, the government is expected to provide updated growth estimates when the new finance minister presents the national budget.

In its statement, CBSL highlighted that inflation is likely to stay below its 5% target over the next few quarters, with the possibility of deflation occurring in the near term.

 Weerasinghe mentioned that inflation might drop below the lower end of the central bank’s target range of 3% to 7% by the end of September, requiring a formal explanation to the government as mandated by law.

 The CBSL has already cut rates by 25 basis points in July as part of a broader effort to ease monetary policy. This has resulted in a total rate reduction of 7.25 percentage points since June 2023.

Financial analysts, like Udeeshan Jonas from Colombo-based research firm CAL, have noted that while credit growth remains steady, political instability has pushed up premiums on government securities. 

This may have influenced CBSL’s decision to maintain rates until further political clarity is achieved. Jonas also warned that inflation could pick up in the second half of the year, particularly with fiscal easing measures expected in the upcoming budget.

The central bank’s decision comes at a politically significant moment for Sri Lanka, following the recent election of President Anura Kumara Dissanayake. Known for his Marxist-leaning policies, 

Dissanayake has pledged to lower taxes, combat corruption, and reduce the cost of living. His election, however, has brought political uncertainty, particularly as he has dissolved parliament in hopes of gaining a stronger mandate in the upcoming general election on November 14.

On the international front, Sri Lanka is moving forward with its $2.9 billion bailout program with the International Monetary Fund (IMF). President Dissanayake has stated that negotiations with the IMF will commence soon to advance the deal.

In addition, CBSL is preparing to shift to a single policy rate by the end of 2024, a move aimed at increasing transparency. 

The transition will involve consultations with market participants and technical assistance from the IMF. 

Some analysts have raised concerns that the shift to a single rate could increase volatility in the exchange rate, potentially destabilizing the economy. However, CBSL remains confident in the move and aims to implement the change before the year’s end.

September 28, Colombo (LNW):  Shangri-La Hambantota has made waves at the 8th edition of the South Asian Travel Awards (SATA) 2024 by securing two prestigious accolades. 

The grand event, held on Friday, 20 September, at Aloft Kathmandu Thamel, brought together over 200 delegates and honoured more than 400 nominees across a variety of categories, highlighting the best of South Asia’s travel and hospitality industry.

Shangri-La Hambantota took home the awards for ‘Leading Family Resort in Sri Lanka’ and ‘Leading Wedding Resort’ in Sri Lanka. 

These recognitions are a testament to the resort’s unwavering commitment to excellence in hospitality, driven by the hard work of its talented team and the loyalty of guests who continually choose Shangri-La Hambantota for memorable family vacations and dream destination weddings.

“This is an incredibly proud moment for Shangri-La Hambantota, as we are honoured to be recognised for our unwavering commitment to delivering exceptional family getaways and unforgettable weddings,” said Shangri-La Hambantota General Manager Refhan Razeen. 

“Receiving these prestigious accolades at the SATA 2024 underscores our dedication to crafting extraordinary guest experiences. We remain focused on setting new benchmarks in hospitality, ensuring every guest leaves with cherished memories.”

Representing Shangri-La Hambantota at the ceremony, Director of Operations Indika Gonawela proudly accepted the awards on behalf of the team.

Nestled in Sri Lanka’s picturesque Southern coast, Shangri-La Hambantota offers an unparalleled experience for both families and couples. 

The resort’s 274 elegant rooms and suites boast stunning views of the Indian Ocean, serene gardens, or the expansive 18-hole golf course, creating an idyllic setting for a peaceful getaway.

Families at Shangri-La Hambantota are treated to a unique mix of adventure and relaxation. With exciting attractions like the signature Flying Trapeze, a thrilling zip line, and the interactive Cool Zone Kids Club, there’s something for everyone to enjoy.

 For those seeking tranquillity, Chi, The Spa offers rejuvenating treatments inspired by traditional Sri Lankan and Asian therapies, while the resort’s multiple dining venues serve a rich array of local and international cuisines.

September 28, Colombo (LNW): Singapore’s President Tharman Shanmugaratnam and Prime Minister Lawrence Wong have extended their congratulations to Sri Lankan President Anura Kumara Dissanayake following his election victory. Singapore’s Ministry of Foreign Affairs confirmed the congratulatory letters on Friday (Sep 27).

Dissanayake, who won with 42.3% of the vote in the Sep 21 election, was sworn in as Sri Lanka’s first leftist president on Monday. His election came amid growing public support following Sri Lanka’s 2022 economic crisis.

In his message, President Tharman called Dissanayake’s victory a “demonstration of the confidence that the Sri Lankan people have in you to lead the country forward.” He also highlighted the “warm and longstanding relations” between Singapore and Sri Lanka, expressing his desire to strengthen bilateral ties as the countries approach the 55th anniversary of diplomatic relations in 2025.

Prime Minister Wong echoed these sentiments, emphasizing the strong collaboration between Singapore and Sri Lanka in areas like carbon credits and capacity building. He expressed eagerness to broaden the relationship further in the years ahead.

Both leaders wished President Dissanayake good health and success in his term as Sri Lanka’s leader.

1. President Anura Kumara Dissanayake has signed his first gazette summoning all members of the Armed Forces for the maintenance of Public Order in specific areas. The gazette was issued Under the Public Security Ordinance, by the President on September 27, 2024.
2. Sri Lanka Police said that all police personnel assigned to provide security to former Parliamentarians have been recalled from today, except those providing security to the former Speaker, former Deputy Speaker and former Opposition Leader.
3. The World Bank Group has warmly congratulated President Anura Kumara Dissanayake on his recent election victory. In a letter addressed to the President, Martin Raiser, Vice President for the South Asia Region of the World Bank, and Riccardo Puliti, Vice President for the Asia and Pacific Region of the International Finance Corporation, emphasized the significance of this election at a pivotal moment in Sri Lanka’s history.
4. Senior DIG Priyantha Weerasooriya has been appointed as the Acting Inspector General of Police (IGP). President Anura Kumara Dissanayake has appointed Senior DIG Priyantha Weerasooriya as Acting IGP, under the constitutional powers vested in the President, the PMD said.
5. The Japanese Ambassador to Sri Lanka, Mizukoshi Hideaki, has affirmed that the Japanese government is committed to fully supporting efforts to combat corruption and irregularities, a key priority of President Anura Kumara Dissanayake’s administration. Ambassador Mizukoshi made these remarks during a meeting with the Secretary to the President, Dr. Nandika Sanath Kumanayake,
6. President Anura Kumara Dissanayake has ordered the reopening of roads around the Colombo Fort President’s House, which had previously been closed due to roadblocks. The President’s House and its surrounding area had been classified as a high-security zone and were closed off to the public.
7. The National Dengue Control Unit (NDCU) states that the number of dengue cases reported in the country has exceeded 38,000 so far this year. Consultant Community Physician at the National Dengue Control Unit, Dr. Anoja Dheerasinghe reported that a significant number of cases have been recorded, particularly in the districts of Colombo, Gampaha, and Kalutara.
8. The Attorney General today informed the Supreme Court that contempt of court charges will be filed against former Senior DIG and head of the State Intelligence Service (SIS), Nilantha Jayawardana, for failing to pay the Rs. 75 million in compensation for the Easter Sunday bomb victims as ordered by the court. Accordingly, the Supreme Court has ordered him to appear before the court on October 07.
9. US President Joe Biden has congratulated Sri Lanka’s new President Anura Kumara Dissanayake on his election to office. “The people of Sri Lanka chose you as their president in a free, fair, and peaceful election of which they are justifiably proud,” he said.
10. Sri Lanka ended Day 2 of the Test match in Galle against New Zealand in a commanding position, posting a massive 602/5 and reducing the visitors to 22/2. Veteran cricketer Angelo Mathews attributed the team’s recent success to head coach Sanath Jayasuriya, calling him a “turning point” in Sri Lankan cricket.

September 28, Colombo (LNW): The Korea International Cooperation Agency (KOICA) has reaffirmed its commitment to supporting the Sri Lankan government’s transparency initiatives. During a meeting with Secretary to the President, Dr. Nandika Sanath Kumanayake, at the Presidential Secretariat today (27), KOICA officials expressed their willingness to assist with projects aimed at preventing fraud and corruption.

KOICA also agreed to provide loan assistance, specifically designed to address Sri Lanka’s needs in combating corruption. The agency’s representatives emphasized their intent to tailor loan support to suit the country’s specific requirements.

The meeting was attended by Korean Ambassador to Sri Lanka Miyon Lee, Deputy Ambassador Songyi Jeong, and senior KOICA officials, along with Sri Lankan Railways Deputy General Manager B.M.U. Banneheka and other dignitaries.

September 28, Colombo (LNW): US President Joe Biden congratulated President Anura Kumara Dissanayake on his election victory, expressing eagerness to collaborate with Sri Lanka in promoting peace, security, and prosperity in the Indo-Pacific region.

In a message posted on X, President Biden acknowledged the significance of Dissanayake’s election, noting that it was conducted in a free, fair, and peaceful manner, a source of pride for the people of Sri Lanka.

“The people of Sri Lanka chose you as their president in a free, fair, and peaceful election of which they are justifiably proud,” Biden stated. He added, “I look forward to working with you to advance peace, security, and prosperity in the Indo-Pacific.”

September 28, Colombo (LNW): The National Movement for Social Justice (NMSJ) commended the peaceful political environment following the 2024 Presidential Election and emphasized the need for ethical candidates in the upcoming Parliamentary Election. In a statement issued by its Chairman, former Speaker Karu Jayasuriya, the NMSJ called on political parties to ensure that no candidates with serious criminal charges, such as murder, drug abuse, or rape, are nominated.

The NMSJ lauded the 2024 Presidential Election for its peaceful conduct and the respectful acceptance of the results by both the winning and losing candidates, describing it as a moment of pride for the nation. Looking ahead, the movement stressed the importance of building upon this positive political culture by electing honorable representatives to Parliament.

The NMSJ urged political parties to require candidates to disclose their tax payment status and to provide health assessments if necessary. These measures, according to the movement, would align with the existing requirements for high-ranking officials like Ministry Secretaries and diplomats.

The statement concluded by calling for transparency from political parties on their candidate selection processes and reiterated that these proposals are made in good faith for the country’s better future.