Author: TELO Admin

The executive board of the International Monetary Fund (IMF) is not expected to formally approve Sri Lanka’s US$2.9 billion (RM12.8 billion) bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said.

Seeking a way out of its worst economic crisis in decades, Sri Lanka reached an IMF staff-level agreement in June with the deal subject to approval and contingent on Sri Lanka authorities following through with previously agreed measures.

Sri Lanka said in September it expected the board to approve the deal by year-end. Progress has been slow in recent months, and Sri Lanka’s finance minister acknowledged last month the request might extend into January.

Sri Lanka has to secure prior financing assurances from creditors, put its heavy debt burden on a sustainable path and increase public revenue before the global lender will disburse the funds. The IMF stressed the importance of joint talks involving three of Sri Lanka’s main bilateral creditors ― China, Japan and India.

The IMF’s online board calendar, which has added meetings through December 22 to discuss progress and new tranches for a number of emerging economies, makes no mention of Sri Lanka.

In response to an inquiry, Sri Lanka’s finance ministry said it was “100 per cent focused” on securing IMF approval.

“We are taking every necessary policy step to secure financing assurances from our bilateral creditors as quickly as possible,” the ministry said in an emailed statement.

IMF officials for Sri Lanka said in emailed comments to Reuters it was “difficult to predict the timeline for the Board approval, as the process of debt discussions takes time.”

Sri Lanka said in October it aimed to nearly double its tax revenue to around 15 per cent of gross domestic product by 2026 from 8.5% now – one essential step to unlock IMF funding. ― Reuters

The Election Commission (EC) will issue the gazette notification calling nominations to elect 8,327 members for 24 Municipal Councils, 41 Urban Councils and 276 Pradeshiya Sabhas within 5 working days of the final week of December, its Commissioner General S.G. Punchihewa said today.

“The Election Commission after a lengthy discussion last week decided to call nominations for Local Government polls between 26th – 30th of December this year,” Mr. Punchihewa told Daily Mirror yesterday.

Nominations will be accepted for local government polls in mid-January and election will be held in late-February 2023 according to the provisions of the Local Government Bodies Election Ordinance 2017.

The section 26 of the ordinance says that the Local Government polls have to be held between five weeks to seven weeks after the close of tendering of nominations.

The nominations will be accepted by district returning officers from registered political parties and independent groups on the 14th day of notice of nominations until 12.00 noon of the following day.

Asked whether LG polls would be monitored by the foreign observers, Mr. Punchihewa said no request has been forwarded to the EC up to now for permission to invite foreign election observers from the PAFFREL or any other local election monitoring NGO but added if and when such request is made, the EC would consider it positively.

Meanwhile, dismissing speculations about the government’s covert attempts to postpone LG polls, Chief Opposition Whip and senior vice president of the main opposition Samagi Jan Balawegaya (SJB) Mr. Lakshman Kiriella said even the Executive President has no power to postpone elections.

Only way to delay or postpone the LG polls is to obtain a Supreme Court order to that effect or pass a Local Government Authorities Election Ordinance afresh replacing the current ordinance passed in 2017.

“The Supreme Court has in many instances ruled that the government or the EC have no right to delay or postpone the polls and violate the fundamental rights of the people,” Mr. Kiriella stressed.

The 2022 electoral register that has just been completed by the EC will be used for the upcoming local government polls. The total number of registered voters eligible to vote are 166,92,398.

The US has imposed sanction on another Sri Lankan military officer Maj. Prabath Bulathwatte, who was arrested on suspicion that he had assisted in the abduction and torture of senior Sri Lankan journalist Keith Noyahr in 2008.

The US took this action on Friday on the occasion of International Anti-Corruption Day and on the eve of International Human Rights Day as part of its actions to promote accountability for corruption and human rights abuse around the world.

According to the State Department, the US imposed sanctions on Prabath Bulathwatte, former head of a clandestine Army platoon, known as the ‘Tripoli Platoon’.

Pursuant to Section 7031(c), the Department of State is designating Bulathwatte for his involvement in a gross violation of human rights, namely torture and/or cruel, inhuman, or degrading treatment or punishment of Sri Lankan journalist Keith Noyahr in May 2008, the office of the spokesperson of the US Department of State said.

According to the office, on the occasion of International Anti-Corruption Day and on the eve of International Human Rights Day, the US is taking the actions to promote accountability for corruption and human rights abuse around the world.

These actions include financial sanctions, using Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Act, and four additional country-focused Executive Orders. The actions also include visa restrictions pursuant to Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act 2022 (Div. K, P.L. 117-103), as carried forward by the Continuing Appropriations Act 2023 (Div. A, P.L. 117-180) and pursuant to Section 212(a)(3)(C) of the Immigration and Nationality Act (INA).

All property and interests in property of individuals or entities designated under E.O.s 14024, 13818, 13722, 13687, or 13553 that are in the United States or in the possession or control of US persons are blocked and must be reported to the Department of the Treasury’s Office of Foreign Assets Control (OFAC).

In addition, any entities that are owned, directly or indirectly, 50% or more by one or more blocked persons are also blocked. Unless authorised by a general or specific license issued by OFAC, or otherwise exempt, all transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited.

The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person or the receipt of any contribution or provision of funds, goods, or services from any such person.

Section 7031(c) provides that in cases where there is credible information that officials of foreign governments have been involved in significant corruption or a gross violation of human rights, those individuals and their immediate family members are generally ineligible for entry into the US and must be either publicly or privately designated.

INA Section 212(a)(3)(C) provides grounds for the Secretary of State to exclude any alien whose entry he determines would have potentially serious adverse foreign policy consequences for the US.

Last year, the US State Department similarly listed two Sri Lankan soldiers; Navy officer Chandana Hettiarachchi and Sunil Ratnayake, a staff sergeant of the Sri Lanka Army holding them accountable for gross violations of human rights.

In 2020, the US State Department similarly sanctioned Sri Lanka’s current chief of defence staff Gen Shavendra Silva, and former Commander of the Sri Lanka Army, on allegations of war crimes committed during the final phase of the armed conflict with the LTTE in 2009.

Sri Lanka Podujana Peramuna (SLPP) intends to hold talks with the United National Party (UNP) led by President Ranil Wickremesinghe to explore the possibility to forming an electoral alliance in view of the elections pending , an official said .

The Election Commission announced earlier that it would call for elections to the local authorities early next year.

SLPP General Secretary Sagara Kariyawasam told Daily Mirror his party had a meeting with its alliance partners on Saturday to discuss what should be done in the event of an election being declared .

Nine political parties including Mahajana Eksath Peramuna (MEP) led by Prime Minister Dinesh Gunawardane, EPDP and TMVP attended the meeting and agreed to contest as an alliance .

Kariyawasam said his party , based on this basic agreement, would talk to the UNP and other parties to seek the possibility of evolving a political alliance .

“Unofficially , we have already indicated our interest in this regard to the UNP. We wish to take formal initiatives soon,” he said.