Maithri under fire, Parliament to demand full disclosure on Easter Sunday attacks

Former President Maithripala Sirisena who is at the centre of controversy over his latest remarks that he is aware of the mastermind behind the Easter Sunday carnage will be forced to place all his cards on the table when Parliament takes up a fresh debate on the matter during the next sitting week.

Parliament will take up a three-day debate when it meets for the first time after New Year on April 24, as agreed upon at the party leaders’ meeting conducted yesterday.

The main opposition Samagi Jana Balawegaya (SJB) asked for the debate on the basis that the country serves to know the discourse of Mr. Sirisena who was the Head of State when the terrorist attack took place in 2019.

Recently, Mr. Sirisena stirred fresh controversy when he said that he knew who was behind the attack. Afterwards, the Criminal Investigation Department (CID) interrogated him for hours. He was also asked to appear before court and make a statement, but he declined to do so.

However, he will now be prevailed upon to divulge what he knows in this regard. There are media reports that he implicated the name of a neighbouring country in his statement to the CID.

The parties will ask him to divulge all details on the basis that the country owes an explanation. Parliament has had debates related to the incident on and off.

Sirisena Temporarily Barred from Chairmanship of SLFP

The Colombo District Court issued an injunction prohibiting Maithripala Sirisena from serving in the role of Chairman of the Sri Lanka Freedom Party.

This legal order, effective until April 18, was granted in response to a request made by former President Chandrika Bandaranaike Kumaratunga.

Former Sri Lankan President, Chandrika Bandaranaike Kumaratunga, has formally petitioned the Colombo District Court, seeking a permanent injunction to remove Maithripala Sirisena from his position as Chairman of the Sri Lanka Freedom Party.

The basis for this request is the assertion that he is unsuitable for the role.

On behalf of former President Bandaranaike, President’s Counsel Chandaka Jayasuriya, along with Attorneys Amila Dissanayake, and Purnima Ratnayake instructed by Attorney-at-Law K. M. S. R. Perera made submissions to Colombo District Court Judge Sandun Vithana.

The attorneys emphasized that Maithripala Sirisena’s continued occupancy of the post of Chairman of the Sri Lanka Freedom Party constitutes a breach of the party’s constitution.

They pointed out that as per the party’s constitution, Maithripala Sirisena is eligible to serve as Chairman of the Sri Lanka Freedom Party during his tenure as the country’s president. However, post-presidency, he is designated as the party’s patron by official decree.

They argued that Maithripala Sirisena simultaneously holding the positions of party patron and chairman is inconsistent with the party’s constitutional framework.

Furthermore, they highlighted before the District Court that the Supreme Court had determined the infringement of fundamental rights during a trial concerning the Easter attack, and the Court also deemed the decisions made by Maithripala Sirisena during the 52-day government upheaval as erroneous, rendering him ineligible for the party chairmanship.

Given this context, former President Chandrika Bandaranaike Kumaratunga petitioned the district court for a permanent injunction restraining Maithripala Sirisena from serving as the Chairman of the Sri Lanka Freedom Party.

She also requested an interim injunction to suspend his authority until the matter could be fully adjudicated.

In her plea to the district court, she underscored the necessity for an injunction to remain in force until the interim order was deliberated upon.

After due consideration of the pleas, Colombo District Judge Sandun Vithana issued an injunction prohibiting Maithripala Sirisena from functioning as party chairman until April 18th.

Simultaneously, the District Court issued injunctions against Acting Secretary of the Sri Lanka Freedom Party, Sarathi Dushmantha Mitrapala, Senior Vice President Nimal Siripala de Silva, and Vice President Faizer Mustafa, preventing the implementation of any decisions made by Maithripala Sirisena.

Sri Lanka ready to provide Chinese enterprises preferential policies

Sri Lanka welcomes the investment of more Chinese enterprises, and stands ready to provide a favorable investment and business environment for them, Sri Lanka said in a joint statement with China.

The island nation will “roll out at a faster pace preferential policies to facilitate the implementation of the Colombo Port City and Hambantota Port integrated development projects,” it said.

“The two sides agree to work together to deepen high-quality Belt and Road cooperation, accelerate the formulation of a Belt and Road cooperation plan, and make all-out efforts to advance the Colombo Port City project and the integrated development project of Hambantota Port as signature projects of Belt and Road cooperation between the two countries.”

The joint statement was issued by the Chinese Embassy in Sri Lanka on X (twitter) after Sri Lanka Prime Minister Dinesh Gunawardena made an official visit to China last week.

The full statement is reproduced below:

Joint Statement between the People’s Republic of China and The Democratic Socialist Republic of Sri Lanka
Beijing, March 29, 2024

1. At the invitation of H.E. Li Qiang, Premier of the State Council of the People’s Republic of China, Hon. Dinesh Gunawardena, Prime Minister of the Democratic Socialist Republic of Sri Lanka, paid an official visit to China and attended the Boao Forum for Asia Annual Conference 2024 from March 25 to 30, 2024.

2. During the visit, Prime Minister Dinesh Gunawardena called on H.E. Xi Jinping, President of the People’s Republic of China, held talks with Premier Li Qiang, and met with H.E. Zhao Leji, Chairman of the Standing Committee of the National People’s Congress. In a cordial and friendly atmosphere, the two sides had in-depth discussions and reached extensive common understandings on bilateral relations and regional and international issues of mutual interest.

3. The two sides share the view that the peoples of China and Sri Lanka enjoy long-standing friendship, and have engaged in mutual learning, mutual assistance and seeking strength through unity. In the 67 years since the establishment of diplomatic ties, the two countries have strengthened traditional friendship, enhanced political mutual trust, achieved fruitful results in practical cooperation, and engaged in close coordination on regional and international issues, setting a fine example of friendly interactions and mutually beneficial cooperation between countries of different sizes. The two sides agree to carry forward the spirit of independence, self-reliance, solidarity and mutual assistance enshrined in the Agreement on Rice for Rubber, jointly tackle challenges, share opportunities and seek common development, thereby cementing and expanding the China-Sri Lanka strategic cooperative partnership based on sincere mutual assistance and ever-lasting friendship to bring greater benefits to the two countries and peoples.

4. The two sides agree to keep the momentum of high-level interactions, expand exchanges and cooperation between governments and other stakeholders, strengthen strategic communication, promote high-quality Belt and Road cooperation, and continue to deepen mutually beneficial cooperation in all areas.

5. The two sides reaffirm their mutual support on issues concerning each other’s core interests and major concerns. Sri Lanka reaffirms its firm commitment to the one-China principle, recognizing the government of the People’s Republic of China as the sole legal government representing the whole of China and Taiwan as an inalienable part of China’s territory, supporting all efforts of the Chinese government to safeguard sovereignty and territorial integrity, and opposing “Taiwan independence” in any form. Sri Lanka reiterates that it will never allow its territory to be used for any anti-China secessionist activities. The Chinese side reiterates that it will continue to firmly support Sri Lanka in upholding national independence, sovereignty and territorial integrity, and show respect for and support Sri Lanka in independently choosing a development path suited to its national conditions. China reaffirms its commitment to an independent foreign policy of peace. Sri Lanka reaffirms its commitment to an independent nonaligned foreign policy.

6. Sri Lanka commends the Chinese people for the great achievements they have made in pursuing modernization under the leadership of the Communist Party of China, and holds the view that the Chinese path to modernization provides a pathway and an action plan for developing countries to develop on their own.

7. Sri Lanka expresses appreciation to the Chinese side for the support that helped its financial difficulties, and, in particular, the pioneering step taken by the Chinese financial institution last year to propose a bilateral debts settlement plan and the preliminary agreement reached with Sri Lanka on the settlement of China-related debts on the basis of friendly consultation. The Chinese side expresses its readiness to continue supporting its financial institution in actively consulting with Sri Lanka, maintain friendly communication with other creditors, and play a positive role in the International Monetary Fund, to help Sri Lanka ease its financial difficulties and achieve debt sustainability.

8. Sri Lanka expresses appreciation and thanks to the Chinese side for the assistance on its economic and social development, and speaks highly of the important role played by Belt and Road cooperation in boosting the economic development and livelihood improvement in Sri Lanka and other Belt and Road partner countries. The two sides agree to work together to deepen high-quality Belt and Road cooperation, accelerate the formulation of a Belt and Road cooperation plan, and make all-out efforts to advance the Colombo Port City project and the integrated development project of Hambantota Port as signature projects of Belt and Road cooperation between the two countries.

9. Sri Lanka welcomes the investment of more Chinese enterprises, and stands ready to provide a favorable investment and business environment for them and roll out at a faster pace preferential policies to facilitate the implementation of the Colombo Port City and Hambantota Port integrated development projects. China will continue to encourage competent Chinese enterprises to invest in Sri Lanka and assist Sri Lanka in achieving economic transformation and sustainable development.

10. The two sides expressed satisfaction over the progress of bilateral cooperation in economy and trade. Sri Lanka expressed appreciation over the multiple measures China has adopted to increase import from Sri Lanka. China expressed its readiness to continue supporting Sri Lankan enterprises in the tea and other industries in establishing ties with relevant Chinese associations of importers and exporters, facilitate Sri Lanka’s participation in expos such as the China International Import Expo, the China-South Asia Exposition and the China Import and Export Fair, make good use of e-commerce platforms, and further enhance cooperation between enterprises of the two countries on the basis of mutual benefit and win-win outcomes. The two sides will work toward the early conclusion of a comprehensive free trade agreement in one package in line with the principles of equality, mutual benefit and win-win outcomes.

11. China is ready to work with Sri Lanka and continue to deliver on the emergency humanitarian assistance to support Sri Lanka in its economic development and livelihood improvement. China is ready to work with Sri Lanka to step up cooperation in such areas as medical health, connectivity and climate change. China welcomes Sri Lankan officials, experts and scholars on climate change to take part in training programs in China.

12. The two sides speak highly of their exchange and cooperation programs in such fields as the development of tropical crops industries, protection and utilization of Globally Important Agricultural Heritage Systems, and farming and processing of agricultural products. The two sides will continue to work together on agritech exchange and training, with a focus on shared cooperation priorities, and help Sri Lanka enhance its comprehensive agricultural production capacity. China will give full scope to the role of the China-South Asian Countries Poverty Alleviation and Cooperative Development Center in Chongqing, to carry out the China-Sri Lanka friendship hybrid rice demonstration park and other poverty reduction and livelihood assistance projects in Sri Lanka, strengthen exchange and training for agricultural technology and management personnel, promote the application of scientific and technological outcomes, and help Sri Lanka increase rice yield and farmers’ income and boost rural development. China welcomes more imports of quality agricultural products from Sri Lanka.

13. The two sides fully recognized the importance of education exchanges for increasing understanding and friendship, and expressed readiness to further enhance exchanges of teachers, students, and researchers. The two sides will work together to ensure the sound development and operation of the China-Sri Lanka Joint Center of Science and Education under the Chinese Academy of Sciences, and carry out joint studies, personnel training and other cooperation. The two sides are ready to strengthen coordination and deepen exchanges and cooperation in fields including disaster prevention and mitigation, maritime rescue, relief and research, maritime domain awareness, marine biological diversity, maritime personnel training and capacity building, and further explore cooperation on the blue economy for the building of a maritime community with a shared future. The two sides will hold periodical bilateral consultations on maritime affairs.

14. The two sides will, under the framework of the Alliance for Cultural Heritage in Asia, deepen cooperation on cultural heritage. China is ready to provide assistance to Sri Lanka in the authentication and restoration of porcelain ware and other Chinese artifacts brought to Sri Lanka by Admiral Zheng He during his navigation in ancient times.

15. The two sides will continue to encourage tourist travel by their citizens in each other’s country, encourage the strengthening of aviation connectivity, and leverage the role of the China Cultural Center in Sri Lanka. China will continue to support Sri Lanka in holding tourism promotion activities in China. Sri Lanka is ready to roll out more tourism facilitation policies.

16. The two sides agreed to deepen sister-city and people-to-people exchange and cooperation, to foster deeper understanding and affinity between the two peoples. The two sides will take active steps to promote the establishment of a sister-city relationship between Dali city of Yunnan Province of China and Seethawakapura of Sri Lanka. The medical team of Yunnan Province will continue to provide services in Sri Lanka under the Brightness Action program.

17. The two sides will jointly champion the building of an equal and orderly multi-polar world, practice true multilateralism, promote greater democracy in international relations, and call on all countries to jointly safeguard the purposes and principles of the U.N. Charter, jointly defend the universally recognized basic norms of international relations, and jointly contribute to the reform and development of the global governance system. The two sides will join hands in promoting universally beneficial and inclusive economic globalization, firmly reject unilateralism, protectionism and deglobalization in all their forms, and ensure the stable and smooth functioning of the global industrial and supply chains.

18. The two sides hold the view that in marking the 70th anniversary of the Five Principles of Peaceful Coexistence, it is important to further carry forward these five principles, i.e. respect for sovereignty and territorial integrity, mutual nonaggression, mutual noninterference in internal affairs, equality and mutual benefit, and peaceful coexistence, and commit to building a community with a shared future for Asia and for mankind. Sri Lanka reiterates its firm support for and readiness to actively participate in the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative proposed by China.

19. During the visit, the two sides signed cooperation documents in industrial investment, standardization, livelihood assistance, agriculture, media and other areas.

20. Prime Minister Gunawardena expressed appreciation to the Chinese government and people for the warm hospitality extended to him and the Sri Lankan delegation, and invited Chinese leaders to visit Sri Lanka. Chinese leaders thanked Prime Minister Gunawardena for the invitation, and the two sides will maintain communication via diplomatic channels.

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Sacred lord Buddha relics from Sri Lanka presented to Dalai Lama

Lord Buddha’s sacred Kapilavastu relics, situated at a holy temple in Sri Lanka, have been offered to the Dalai Lama on Thursday morning, the office of Dalai Lama said in a statement.

The sacred relics are located at Rajaguru Sri Subhuthi Maha Viharaya inWaskaduwa, a Buddhist temple in Sri Lanka.

Notably, the Kapilavastu relics hold immense historical and spiritual significance, connecting the devotees to the profound legacy of Lord Buddha.

The Sri Subhuthi Maha Viharaya in Waskaduwa houses 21 relics of the Lord Buddha.

Waskaduwe Mahindawansa Maha Nayaka Thero is the custodian of these precious Kapilavastu relics, which have been preserved and protected for generations till now at Sri Subhuthi Maha Viharaya in Waskaduwa, Sri Lanka.

In February, Dalai Lama, on the occasion of Chotrul Duechen, gave a short general teaching from the Jataka Tales at the Main Tibetan Temple, Tsuglagkhang, in the Himachal Pradesh hill town of Dharamshala, which was attended by over 3000 Tibetan followers, including Buddhist monks, nuns and foreigners from different parts of the world.

Chotrul Duechen is the day of offerings and is celebrated on the 15th day of the 1st Tibetan month. The day, which means Great Day of Miraculous Manifestations,” is one of the four Buddhist festivals commemorating four events in the life of the Buddha.

Earlier in March, the relics of Lord Buddha and those of his two main disciples, Arahant Sariputta and Maha Moggallana, were sent on a 25-day exposition across four cities in Thailand.

The exposition drew a phenomenal response, during which over 4 million devotees from Thailand and other countries in the Mekong region paid homage to the relics.

The revered relics’ exposition, organised by the Ministry of Culture, Government of India, in collaboration with the International Buddhist Confederation (IBC), travelled to Bangkok, Chiang Mai, Ubon Ratchathani and Krabi provinces, starting from New Delhi on February 22.

Source: Asia News International

SLFP internal crisis intensifies: Sirisena responds to injunction over CBK’s plaint

Former President Maithripala Sirisena says he expects to present facts before the court with regard to the interim injunction issued by the Colombo District Court, preventing him from functioning as the Chairman of Sri Lanka Freedom Party (SLFP).

The Colombo District Court on Thursday (04) issued an interim injunction preventing Sirisena from functioning as the SLFP chairman, following a complaint filed by former President Chandrika Bandaranaike Kumaratunga.

Speaking to the media this evening (04), Sirisena said: “I got to know in the afternoon that Mrs. Chandrika Bandaranaike has obtained an interim injunction to remove me from the chairmanship [of SLFP]. I only saw on media that the injunction is effective until April 18.”

The former President also said that he has not been officially informed of the order in writing as of yet.

“These types of challenges are not new in the history of the SLFP. Mrs. Chandrika Bandaranaike, Mr. Kumaratunga, Mr. Anura Bandaranaike… they have all separated from the Sri Lanka Freedom Party and formed new parties. After Mrs. Bandaranaike’s civic rights were stripped in 1977, we had to remain in the opposition for 17 years due to such actions by them”, he added.

“Regardless of the challenges we face, we, as a steadfast group within the Sri Lanka Freedom Party, will conduct future political activities independently of the ruling party. In the future, we will present the facts before the court and also inform the people of the exact situation”, Sirisena expressed.

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Katchatheevu issue: If India crosses sea boundary, it will be seen as violation of sovereignty, says former Sri Lankan envoy

Amid the BJP’s attempts to reignite the decades-old Katchatheevu issue ahead of the general elections, former Sri Lankan envoy to India Austin Fernando said the party may have invoked a “vote-puller” but it would be difficult for the Indian government to step back after the elections, which is a “problem”.

A widely respected and experienced official, Fernando was speaking with The Indian Express over the phone from Colombo on Wednesday. He said if the Indian government crosses the Sri Lankan maritime international boundary line, it would be seen as a “violation of Sri Lankan sovereignty”, as he recalled Sri Lankan President Ranasinghe Premadasa’s statements on the Indian Peacekeeping Force in late 1980s.

“If Pakistan proposes such sea encroachment near Goa, will India tolerate it? Or if Bangladesh does something like this in the Bay of Bengal, what will be India’s response?,” said Fernando, who was Sri Lankan High Commissioner to India between 2018 and 2020.

India had ceded the tiny island of Katchatheevu to Sri Lanka in 1974. Now, weeks before the Lok Sabha election in Tamil Nadu, Prime Minister Narendra Modi has accused the Indira Gandhi government of “callously giving it away” to Sri Lanka.

Fernando said: “BJP does not have much of a hold in Tamil Nadu comparatively, so it has sparked off a vote-puller.”

“It seems that this is only rhetoric for the election. But once they have said something like this, it is difficult for the government to get out of it after the elections, because BJP will win. It is the problem. They and we both should think about it,” he told The Indian Express.

“To satisfy the voters of Tamil Nadu, [External Affairs] Minister Jaishankar might say: ‘Well, let us have the fishing rights in the Katchatheevu area’. Whether it can be done effectively or not is another issue. Who would control any issues? Do not tell us it is the Indian Coast Guard,” said Fernando, who has also served as Sri Lankan Defence Secretary.

“If the Sri Lankan government gives in, it will reduce a fair share of northern fishermen’s votes to the government,” Fernando said.

“If the Indian government crosses the Sri Lankan maritime international boundary line, then it will be seen as a violation of Sri Lankan sovereignty. Do not forget that that stance was taken by President Premadasa when the IPKF was here,” he said.

EXPLAINED

Emotive issue in Tamil Nadu

FOR the BJP, the focus on Katchatheevu appeals to Tamil sentiments in a state where regional pride carries resonance, and has been an obstacle in its efforts to make inroads.

Fernando, 81, has held several top-level positions in the Sri Lankan government — including as Secretary to the Sri Lankan President, Governor of Eastern province, Advisor to Sri Lankan Prime Minister, Defence Secretary and Home Secretary. In his illustrious career of almost six decades, he has worked with Sri Lankan Presidents and Prime Ministers from across the political aisle.

Speaking about the economic aid extended by the Indian government during the country’s economic crisis, he said: “I am mindful of the fact that India helped Sri Lanka during the economic difficulty by extending $4 billion and supporting us at the International Monetary Fund. Our government will be thinking of that, so they have to diplomatically keep mum because of such obligations. Because of the current difficult situation in our country and the election environment here, I think this should not have been raised at all. But I understand that for BJP it may be the most opportune time.”

Referring to the Indian presence in Sri Lanka, he said: “The Opposition here is critical of Indian investments and this will fuel more criticism, creating another difficult political environment.”

Former Indian and Sri Lankan diplomats had told The Indian Express Tuesday that the governments in place in the 1970s had concluded the agreement “in good faith”, where both sides had “won some” and “lost some”. Indian diplomats, who have dealt with Sri Lanka in the past, have also underlined that Delhi was able to get access to Wadge Bank and its rich resources.

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Jeevan Thondaman apologises to Muslim community for forced cremation

Minister for Water Supply and Estate Infrastructure Development in Sri Lanka Jeevan Thondaman apologised to the Muslim community for the mandatory cremation policy enforced during the COVID-19 pandemic under the previous government of Gotabaya Rajapaksa.

The unexpected apology came during an Ifthar gathering held in Hatton town on Tuesday (02), hosted by Minister Thondaman.

The Minister apologised and acknowledged the distress the policy had caused among the Muslim community. Although the Minister only assumed duties in January last year, he said it was still important that as the present Minister responsible for water, he had to take responsibility irrespective of who was sitting in his place before.

The forced creation policy under President Gotabaya Rajapaksa was driven by concerns that burial of COVID-19 victims could contaminate water supplies. This was despite several scientific opinions, including that of the World Health Organisation, refuting that claim.

The previous Government’s position has now been challenged and refuted by new scientific findings of a study led by experts from the University of Sri Jayewardenepura and an update to it by the Joint Research and Demonstration Centre for Water Technology (JRDC) at the University of Peradeniya, a centre under the Ministry of Water Supply and Estate Infrastructure Development. The update to the original study was done on the instructions of Minister Thondaman after becoming the subject Minister last year.

The first study, led by experts from the University of Sri Jayewardenepura and financially supported by the Ministry of Water Supply, investigated the presence of the SARS-CoV-2 virus in surface and wastewater across various locations in Sri Lanka. Conducted between August and December 2021, this research aimed to assess the risk of viral transmission through water, a concern that originally motivated the cremation mandate.

Complementing this, a comprehensive review study by the JRDC analysed the effects of COVID-19-infected bodies’ burial on groundwater contamination. Published this year, this review concluded there was no risk to groundwater pollution from properly conducted burials during the pandemic. The study emphasised that proper burial procedures, including deep burial in sealed body bags, effectively mitigated any risk of environmental contamination.

The study also highlighted that the presence of SARS-CoV-2 RNA in various water sources did not stem from burial practices but rather from the faeces and urine of infected individuals, further debunking the initial assumptions that underpinned the cremation policy.

The Minister’s apology marks a critical step towards healing the wounds inflicted by the pandemic’s divisive policies, reaffirming the Government’s dedication to evidence-based decision-making and respect for all cultural and religious practices in Sri Lanka.

Minister Thondaman said that he will soon be submitting a Cabinet paper together with the findings of the study to seek a formal apology from the Government for the harm and hurt caused to the Muslim community from the forced cremation policy.

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JPMorgan juices bets on the red-hot debt market in Sri Lanka

BLOOMBERG: Global money managers are turning to Sri Lanka’s local-currency government bonds as a catch-up trade in the country’s red-hot debt market on optimism for a restructuring deal.

JPMorgan Asset Management has actively rotated into rupee securities from US dollar-denominated holdings over the course of the year in one of its Asian total return funds, said Jason Pang, a senior portfolio manager.

T Rowe Price Group expects the local bond trade to run further with modest currency gains and domestic rates bolstering demand, according to portfolio manager Leonard Kwan.

For Pang, a normalisation in inflation and a stabilisation in foreign reserves and balance of payments as a result of an International Monetary Fund (IMF) deal would be positive for the onshore bond market.

“Initially when we are scaling in, we went with the US dollar debt, but as sort of the time proceeded and things got better then we actually rotated parts of that into Sri Lankan government bonds,” Pang said.

Sri Lankan dollar debt has been on a tear amid optimism that the nation can successfully rework US$12 billion in defaulted global bonds. A Bloomberg gauge of the hard-currency notes has jumped about 17 per cent year to date, the second-best performer in the region after Pakistan. A gauge of local debt markets from ICE Bank of America (BOA) has lagged somewhat, up just 6 per cent.

A spate of positive developments has buoyed sentiment recently, not least Sri Lanka securing initial approval for a US$337 million payout from the IMF in March. Authorities have also reached in-principle agreements with China, India and the Paris Club while fresh assurances from the finance minister have added to the mood music.

Meanwhile, data showed the Sri Lankan economy expanded for a second straight quarter, while the central bank unexpectedly cut rates after inflation eased for the first time in five months. In 2022, months of protests over soaring prices, shortages of food and fuel and lengthy power cuts toppled the government and led to the first sovereign debt default since independence in 1948.

Pang, who prefers shorter-dated local paper, says investors can get paid 12 per cent “true yield” in contrast with US dollar bonds where investors get paid zero on accrued interest in default. “I’m sure every investor wants the negotiations to be done soon, but I like the idea more of getting paid true yield while I wait.”

The yield on ICE BOA’s index of local Sri Lankan bonds was about 11 per cent last week, according to data compiled by Bloomberg.

For T Rowe’s Kwan, an emerging-markets fixed-income portfolio manager in Hong Kong, currency was another factor attracting him to local government bonds. He sees more upside in the Sri Lankan rupee, which has strengthened around 8 per cent this year.

“Sri Lanka ticked a few boxes for us in the sense of cheaper currency, elevated rates, improving fundamental outlook,” he said.

While most of the hope of an IMF deal has largely been priced into the nation’s dollar bonds, both Pang and Kwan agree that the road to recovery will likely take shape over a longer period of time and the local debt remains a buy.

“The income is sufficiently attractive in a world where global central banks are cutting policy and if that rate is sufficient to anchor volatility in the currency, then it is actually a position that we could run for an extended period of time,” Kwan said.

Source: Bloomberg

Posted in Uncategorized

When “Aiyo” Sirisena accused India’s RAW of plotting to assassinate him BY D.B.S.Jeyaraj

“Putting your foot in your mouth” is a figurative expression about a person saying or doing something that should not be done or not have been said, especially if it embarrasses the person concerned or someone else. Among those who frequently put their feet into their mouths are politicians of all kinds and hues and from all parts of the world.

Sri Lanka the miracle of Asia is second to none in this sphere. From “Apey George” George E de Silva of Kandy in the past to CV Wigneswaran of Jaffna in the present, there have been several politicians in this resplendent Island who are famous for this. However the greatest of all politicians in this respect arguably is Pallewatte Gamaralage Maithripala Yapa Sirisena who served as the sixth executive president of Sri Lanka from 2015 to 2019. Such is his reputation for doing or uttering inappropriate things that Sirisena has acquired the prefix “Aiyo”. Many refer to him as “Aiyo” Sirisena nowadays.

Maithripala Sirisena is a man of many surprises. He has displayed a penchant to make controversial remarks and startling revelations on more than one occasion. Most of these sensational disclosures explode in the public domain with a powerful bang and then fizzle out into pathetic whimpers.

Easter bombings

The latest outburst emitted by former president Sirisena is currently receiving much media exposure. This was about the dastardly bombings in Sri Lanka on Easter Sunday five years ago. On 21 April 2019, explosive suicide bomber attacks were conducted by Islamic “Jihadists” in Colombo, Negombo and Batticaloa. Three luxury tourist hotels, two Catholic Churches and an Evangelical Christian Church were targeted within a brief time span on Easter morning. 269 people including 45 foreign nationals were killed. Over 500 were injured. Most of the victims were guests at the hotels or worshippers in churches including children attending Sunday school.

Maithripala Sirisena was the President then. He had left for Singapore on 16 April and was there on 21 April when the bombings occurred. Sirisena came under heavy criticism over his alleged acts of omission and commission in handling this issue. Subsequently President Sirisena appointed in September 2019 a commission of inquiry headed by Supreme Court Judge, Justice Janak de Silva to investigate and report on the “series of terrorist attacks on Easter Sunday and to recommend necessary action based on the findings.”

Other members of the Commission were Court of Appeal judge Nishshanka Bandula Karunaratne, retired Supreme Court judges Nihal Sunil Rajapaksha and A.L. Bandula Kumara Atapattu and the Justice Ministry’s former secretary W.M.M.R. Adhikari. The Report comprising 472 pages, 215 annexures and 6 volumes was released in February 2021. Sirisena was then out of presidential office. He did not contest the 2019 Presidential poll in which Gotabaya Rajapaksa was elected president. In 2020 Sirisena contested in Polonnaruwa district and was elected to Parliament.

The Janak de Silva Inquiry Commission report recommended that the Attorney General initiate criminal proceedings against President Sirisena and his chief defence and intelligence officials for failing to act on intelligence received to prevent the attacks on 21 April 2019.

Furthermore in a separate development, Sirisena was ordered by the Supreme Court to pay Rs. 100 million as compensation to the victims of the bombing. This was following fundamental rights petitions filed on behalf of victims being heard by the Apex tribunal.

It is now accepted widely that the Presidential election would take place later this year. Sirisena himself declared last year that he would be a candidate representing the Sri Lanka Freedom Party (SLFP). Attempts are also being made to form an alliance with the SLFP as chief constituent.

It is against this backdrop that the former President came out with a revelation some days ago on 22 March that caused many to cry out again in exasperated tones – Aiyo Sirisena! Sections of the print and electronic media in Kandy and Colombo were told by Sirisena that he knew who was behind the horrible Easter bombings. He had received this information about the “masterminds” only a few weeks ago, he said. Sirisena declined to name those allegedly responsible but stated he would do so to courts if summoned with the caveat that he and his family should be guaranteed full security first.

Sirisena’s disclosures

Sirisena’s disclosures stirred a hornet’s nest. There was a huge outcry. There was a strident demand that Sirisena be arrested and interrogated by the Police. It was stressed that he should be compelled to come out with the truth about the Easter bombings. Interestingly this reaction was divided. Some wanted Sirisena to be questioned and the truth uncovered. Others who disbelieved him, wanted Sirisena to be grilled and penalised for what were suspected to be lies and untruths. A few wanted him to be tried and convicted for withholding information.

With pressure mounting on the Government to take action, Public Security Minister Tiran Alles instructed Inspector General of Police (IGP) Deshabandhu Tennakoon to order the Criminal Investigation Department (CID) to record a statement from Sirisena. When the CID contacted the ex-president on 24 March, Sirisena said he will come to the CID on Monday 25 March and make a statement.

Maithrpala Sirisena was true to his word and presented himself at the CID headquarters on 25 March. A detailed statement was recorded. The proceedings took 330 minutes. Sirisena gave the slip to media personnel waiting in front and went away via a side exit.

The excreta hit the oscillator! Several reputed newspapers came out with startling reports that “Aiyo” Sirisena had pointed the accusing finger at big neighbour India of being responsible for the Easter terror.

Indian espionage agency RAW

The essence of Sirisena’s accusation according to media reports was that the Indian espionage agency Research and Analysis Wing (RAW) had masterminded the Easter attacks. He had named a particular Indian diplomat stationed in Colombo then. Sirisena also reportedly told the CID that the RAW had done so because the New Delhi Government was annoyed with Colombo for letting China get prestigious projects in Sri Lanka instead of India.

The ex-president alleged that this information was disclosed by an Indian diplomat who had made a confession of sorts to him. Sirisena had told the CID that he would reveal the identity of his Indian informant and other details to court. Efforts made by this columnist to communicate with former President Sirisena in this regard were unsuccessful.

Due to the serious nature of Sirisena’s accusations, the recorded statement was immediately perused by the Attorney-General. The Attorney-General advised the CID to file a “B” report at the Maligakande Magistrate’s Court. Subsequently the Court has noticed Maithripala Sirisena to appear on 4 April (Thursday) and make a full statement to court.

Since the matter is going to be taken up before courts, this column will refrain from further comments on this issue at the present juncture. However there is a salient point that needs to be emphasised. If the media reports about Sirisena’s accusations against India are correct, then I must assert strongly that I do not believe ex-president Sirisena at all. I am no fan of the RAW or any other intelligence agency but linking the RAW to the Easter bombings is highly improbable and totally absurd.

I do not want to delve into the reasons and motives behind Sirisena’s claims at this point of time, but I must state that they are like the allegations made by another ex-president Gotabaya Rajapaksa in his “Conspiracy” book about Tamils and Muslims being responsible for the “Aragalaya” that overthrew his Government.

Outrageous accusation in 2018

Maithripala Sirisena is a not so bright politician who does not know the seriousness of the statements he is making or the implications of his unfounded accusations against India. In order to illustrate this point I wish to go down memory lane and re-visit an incident where “Aiyo” Sirisena made an outrageous accusation in similar vein against India in general and the RAW in particular. This happened in October 2018. I have written about this earlier and will rely on some of those writings.

The “Yahapalanaya” (Good Governance) Government was in power then with President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe leading an uneasy life of political co-habitation. The weekly cabinet meeting was held on 16 October 2018. Verbal fireworks exploded at that cabinet meeting especially between Sirisena and Wickremesinghe. The contentious issues were the awarding of the East Port Terminal at the Colombo Harbour to India and President Sirisena’s complaint about an alleged plot by the Indian espionage agency RAW to assassinate him and ex-defence secretary Gotabaya Rajapaksa.

“The Hindu” news story

The reputed Indian English newspaper ‘The Hindu’ posted a detailed news story filed by its Colombo Correspondent Meera Srinivasan. The news item was posted at 11:04 p.m. on 16 October. It was subsequently updated at 3:44 p.m. on 17 October. The news story by Meera in ‘The Hindu’ headlined “Sri Lankan President Sirisena alleges that RAW is plotting his assassination” read as follows:

“In a charge that might seriously impair New Delhi-Colombo relations, Sri Lankan President Maithripala Sirisena on Tuesday accused India’s Research and Analysis Wing (RAW) of plotting his assassination.

At the weekly Cabinet meeting, Mr. Sirisena told ministers that the Indian intelligence agency was “trying to kill” him, but “Prime Minister Narendra Modi may not be aware of the plan,” The Hindu has learnt from sources present at the discussion.

“We were just shocked when he said it,” a source said, requesting anonymity.

When contacted for verification, a senior officer at the President’s media unit said: “We will verify this and revert.” However, there has been no response till Tuesday night.

President Sirisena’s claim comes days before Prime Minister Ranil Wickremesinghe’s scheduled visit to New Delhi, meet Mr. Modi and discuss bilateral matters, including key, India-assisted projects on the island.

This is not the first time a Sri Lankan leader has accused the Indian agency of interference. Following his poll defeat in 2015, former President Mahinda Rajapaksa held RAW among those responsible for the change in regime.

Mr. Sirisena’s allegation, the sources said, came when he raised concerns over the government’s “indifference” to an assassination plot targeting him. Reports of the said plot emerged last month when an individual named Namal Kumara, part of an anti-corruption outfit, claimed he was aware of a plan to assassinate Mr. Sirisena and former Defence Secretary Gotabaya Rajapaksa.

The CID interrogated Mr. Kumara. The police subsequently arrested an Indian national late in September. Local media reported that the Indian, identified as M. Thomas hailing from Kerala, claimed he knew of the plot.

However, the Sri Lankan Government issued an elaborate denial of the report and clarifications came from the highest level. Media Minister Mangala Samaraweera slammed it as a “disinformation campaign”, urging reporters to be responsible.

At Tuesday’s meeting, Mr. Sirisena reportedly said “the Indian national must be a RAW agent trying to kill me. The Indian PM may not be aware. That is often the case. Trump may not be aware of CIA’s similar moves.”

The Hindu, on Tuesday evening, spoke to multiple sources in government — across political parties — who attended the meeting, and they confirmed this.

Tuesday’s meeting also saw a heated argument between President Sirisena and Mr. Wickremesinghe, when a Cabinet paper on developing the Colombo Port came up for discussion. Sources said Mr. Sirisena vehemently objected to any Indian involvement in upgrading its east container terminal – a project that New Delhi has been keen to take up.

However, Mr. Wickremesinghe is said to have countered by saying Colombo had promised New Delhi on collaborating on the project, and it was important to rope in India at the terminal, given that about 80% of the cargo handled at the transshipment hub was meant for India. He reportedly sought a week’s time to sort out the issue, since he would be meeting Mr. Modi soon.

Meanwhile, the President’s media unit on Tuesday called off a scheduled press meeting by Mr. Sirisena’s advisers on the reported assassination plot.

When contacted, Presidential Adviser Shiral Lakthilaka told The Hindu: “We cancelled it because we are awaiting more information”. Asked if it was connected to Mr. Sirisena’s reported remarks at the Cabinet, he said: “No, it had nothing to do with that.”

It is noteworthy that the Hindu’s Colombo correspondent Meera Srinivasan made it a point to emphasise in her report that she had spoken “to multiple sources in government — across political parties — who attended the meeting,” and they had confirmed it. Subsequently, in an Editor’s note published in ‘The Hindu’ it was said the correspondent had spoken to two Cabinet ministers and got indirect confirmation from two others before filing the report after extensive checking and cross-checking.

The same Sirisena who accused India’s RAW of plotting to assassinate him, has now reportedly made a far more serious allegation that the RAW had masterminded the April 2019 Easter bombings. Aiyo Sirisena

Alarm bells in South Block

Several Sri Lankan newspapers also reported details in different degrees of the controversial Cabinet meeting. In fact it was the “Economy Next” website which broke the story first. However it was ‘The Hindu’ news story that sent alarm bells ringing in India’s “South Block.” which houses the Prime Minister’s office and the ministries of Defence and External Affairs.

With India’s South Block being alerted by the news in the ‘Hindu,’ events began to move rapidly. Sirisena’s purported reference to RAW at the Cabinet meeting could not be taken lightly as India’s external agency the Research and Analysis Wing (RAW) had been directly implicated.

Although President Sirisena had reportedly given a clean chit to Indian Prime Minister Narendra Modi saying Modi would not have known, the reality was that Maithripala’s remarks amounted to an affront to Premier Modi. This was because the RAW is an adjunct of the Cabinet Secretariat coming under the direct purview of the Prime Minister. The RAW chief reports administratively to the Cabinet Secretary who in turn reports to the PM.

Premier Narendra Modi

So President Sirisena’s reference to the Indian espionage agency placed Narendra Modi in a difficult position. On the one hand it implied that the Indian Prime Minister may have had a hand in the alleged assassination plot. On the other hand if the RAW was acting independently of Modi it meant that the premier was not in control of a key agency under his direct command.

What agitated South Block officials further was the personal interest displayed by Premier Narendra Modi in this matter. After being informed of this ‘news’ the Indian PM told key officials in the External Affairs Ministry and Prime Minister’s Secretariat that this matter if true was “ very serious” and instructed them to give top priority to it. The Indian PM urged his officials to “find out the full truth” and brief him as soon as possible.

The then Indian Foreign Secretary Vijay Keshav Gokhale contacted the then Indian High Commissioner in Colombo Taranjit Singh Sandhu and was briefed. The Foreign Secretary told the High Commissioner that this allegation against the RAW was a ‘slur’ on India’s national external intelligence agency and that Prime Minister Modi was ‘hurt’ by this. High Commissioner Sandhu was instructed to meet President Sirisena as early as possible and seek clarification.

Taranjit Singh Sandhu

High Commissioner Taranjit Singh Sandhu got cracking. He secured an appointment at very short notice to meet President Sirisena. Indian envoy Sandhu met with President Sirisena at the Presidential Secretariat in Colombo on 17 October.

After explaining the ramifications and implications of Maithripala Sirisena’s reported Cabinet meeting remarks, the Indian High Commissioner sought specific clarity from the Sri Lankan President on three counts.

Firstly what was the basis on which the President suspected an Indian link in the alleged conspiracy to assassinate him? Secondly what was the basis on which the President suspected the involvement of the research and analysis wing in the plot to assassinate him? Thirdly was there any explicit reference to Indian Prime Minister Narendra Modi in the President’s purported remarks?

President Sirisena recounted in detail the information he had received about the alleged assassination conspiracy. President Sirisena said his safety and security was at stake and he had been compelled to increase his own personal security. The President told the Indian envoy that he did not criticise or blame India in any way for this state of affairs.

Sirisena stated that he had merely speculated that an Indian espionage agency could have been involved. He had never pointed the finger specifically at the R&AW. Sirisena also told Sandhu that he had never accused Premier Modi in any way. In fact he had gone out of his way to say that Narendra Modi would not know what an espionage agency was doing. These were all general remarks and were not specifically directed against the RAW or Premier Modi.

Seizing upon the sentiments expressed by President Sirisena, High Commissioner Taranjit Singh Sandhu suggested diplomatically that it would be better if President Sirisena himself spoke to Prime Minister Narendra Modi and explained matters. He said the Indian premier was very concerned about this entire issue and would very much appreciate hearing from Sirisena personally.

Telephone conversation

President Sirisena was more than willing to talk to Prime Minister Modi. Thus a convenient time was arranged in the afternoon of 17 October. Narendra Modi began the telephonic conversation by saying “Ayu Bowan Excellency, how are you?” Then followed a very interesting 20-minute conversation between the two leaders. The prickly issue was resolved amicably.

This was what happened then. The same Sirisena who accused India’s RAW of plotting to assassinate him, has now reportedly made a far more serious allegation that the RAW had masterminded the April 2019 Easter bombings. Aiyo Sirisena!

(The writer can be reached at dbsjeyaraj@yahoo.com.)

Prez polls: Chief Govt. Whip dismisses Namal’s candidature, reiterates support for Ranil

Chief Government Whip and Urban Development and Housing Minister Prasanna Ranatunga has declared that he wouldn’t support Namal Rajapaksa’s candidature at the forthcoming presidential poll.

The Gampaha District SLPP strongman said that Namal Rajapaksa lacked sufficient experience to contest the presidency.

Lawmaker Ranatunga explained his stance regarding the presidential polls at a meeting held in his political office at Udugampola yesterday (02).

Parliamentarian Ranatunga dismissed reports that the SLPP was discussing MP Namal Rajapaksa’s impending nomination as their candidate. However, if the party, for some reason, decided to field Namal Rajapaksa, he would quit the SLPP presidential polls campaign.

Minister Ranatunga made the declaration close on the heels of the SLPP appointing Namal Rajapaksa as their National Organizer, a post previously held by SLPP founder Basil Rajapaksa.

Minister Ranatunga said that he would back President Ranil Wickremesinghe’s candidature if a consensus could be reached on a symbol other than ‘Elephant’ or ‘Pohottuwa.’ Ranatunga warned that Wickremesinghe couldn’t win the next presidential election without the support of the ruling SLPP.

Declaring that the Samagi Jana Balawegaya (SJB) leader Sajith Premadasa and Janatha Vimukthi Peramuna (JVP) leader Anura Kumara Dissanayake posed no threat, lawmaker Ranatunga claimed that 80 percent of SLPP now backed Wickremesinghe’s candidature.

Minister Ranatunga said that he appreciated Wickremesinghe as he accepted the challenge at the height of the economic crisis and lawlessness when no one else had the backbone to do so