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ALL-PARTY CONFERENCE A FLOP?

Posted on January 27, 2023 | by TELO Admin | Leave a Comment

Newly formed TNA ,The Jathika Jana Balawegaya (JJB), Samagi Jana Balawegaya (SJB) and Tamil Progressive Alliance (TPA) yesterday (26) boycotted the All-Party Conference (APC) that was convened by President Ranil Wickremesinghe.

The President’s Media Division (PMD) said the APC was convened in order to speak in depth on reconciliation.

The SJB and the JJB said the APC is only a ‘mere talk show’ as the President has ignored several proposals made by them earlier.

Newly formed Nidahas Janatha Sandhanaya (People’s Freedom Alliance), also did not participate in the APC.

The Prime Minister, the Speaker, former Presidents Mahinda Rajapaksa and Maithripala Sirisena were invited to the APC too.

Meanwhile, TPA Leader Mano Ganesan stressed that President has not held talks on the issues related to Hill Country Tamils who are national minority in the country.

Ganesan said that they have been repeatedly demanding of President Wickremesinghe to talk about the political aspirations of the hill country Tamil community in his stated attempt to find solution to the National Question.

He said the President is holding talks on finding ways to resolve the Tamil questions but the rest of the Tamil political parties ‘don’t represent’ the hill country Tamils of Indian origin.

The TPA Leader said further, “We have been repeatedly demanding of President Wickremesinghe to conduct talks with us and all the Hill Country Tamil political parties, on the political aspirations of the Hill Country Tamil community in his stated attempt to find solutions to the national question. We have specifically told him to nominate a high-powered committee, chaired by him to look into this subject.

“But, apart from certain remarks made from public stages, President Wickremesinghe has not done anything officially in this regard”, Ganesan added.

While welcoming the President’s talks, with the Tamil parties of the North and East, to find solutions to the political and accountability issues faced by the northern and eastern Tamil brethren, he said they also wanted all stakeholders to understand the political aspirations of the Hill Country Tamil community beyond the ‘Plantation’ radius. And the national question of Sri Lanka is not North and East centric but national.

It is because the discussion is all about the National Question, why did not the TPA, as a party in the opposition, question President Wickremasinghe’s mandate to conduct talks with minority parties to address the national question, Ganesan queried.

“We consider the national question as the most important subject on the tray and no head of State needs any mandate to address this particular subject. We have even exchanged such positive views with North and East Tamil parties. Hence, the attitude of President Wickremasinghe towards us is disappointing.”

Message from Indian envoy Gopal Baglay to the people of Sri Lanka on India’s Republic Day

Posted on January 26, 2023 | by TELO Admin | Leave a Comment

Ayubowan, Vanakkam, Namaskar!!

Greetings to all Indians in Sri Lanka and to my Sri Lankan brothers and sisters on the occasion of India’s 74th Republic Day.

This year, Sri Lanka also celebrates 75 years of its Independence and India and Sri Lanka mark 75 years of establishment of diplomatic ties. India celebrated 75 years of her Independence last year. Both India and Sri Lanka, close neighbors and friends, now look forward to the next 25 years for enhanced cooperation for progress and prosperity as well as peace.

Over the past year, India rendered unprecedented financial assistance of around USD 4 billion for the people of Sri Lanka. This year, India became the first bilateral creditor of Sri Lanka to convey financing assurance to the International Monetary Fund and support restructuring of Sri Lanka’s debt.

These steps have reinforced India’s commitment for the well-being of Sri Lanka in line with Prime Minister Narendra Modi’s Neighbourhood First policy.

The recent visit of External Affairs Minister Dr. S. Jaishankar to Sri Lanka has opened avenues for further cooperation through investment in infrastructure, manufacturing and promoting connectivity. India was Sri Lanka’s largest trading partner in 2021. Sri Lanka’s exports to India have also grown. The use of Rupees for trade settlement is further helping Sri Lanka’s economy. These are concrete steps to help Sri Lanka’s economic recovery and growth.

I am glad to note that India was once again the largest source of tourists for Sri Lanka last year. Resumption of Chennai-Jaffna fights is yet another step in bringing the people of the two countries closer. Ferry services between the two countries will bolster this further.

Recent developments in India-Sri Lanka ties have strengthened our friendship and all-round cooperation. At the same time, the two countries also remain vigilant to address common challenges, especially in maritime security domain.

As Sri Lanka celebrates a momentous day on 4 February 2023, I wish the people of this beautiful country a very happy 75th Independence Day, and convey that India will continue to stand with Sri Lanka.

– Gopal Baglay

“Japan is working hard to help Sri Lanka overcome the economic crisis”

Posted on January 26, 2023 | by TELO Admin | Leave a Comment

Japan has reiterated that it is working hard to help Sri Lanka overcome the economic crisis.

During an interview with the Reuters News Agency, Vice Minister of Finance for International Affairs of Japan Masato Kanda has said Japan is working hard to help Sri Lanka, which is suffering its deepest economic crisis in 70 years, by coordinating with the Paris Club of creditor nations and the International Monetary Fund to ensure the participation of China and India in efforts to restructure the debt.

Referring to a Group of 20 mechanism designed to provide a swift and comprehensive debt restructuring for nations facing difficulty meeting debt obligations after the COVID-19 shock to their economies, Vice Minister Masato Kanda said, “It is desirable to work with these non-Paris Club countries in the same way with the Common Framework.”

He noted that, “If this is realised, it would pave the way to carry out debt restructuring for other middle-income countries.”

Vice Minister Kanda stressed that crisis-hit Sri Lanka was a key issue when it came to helping countries in debt but he was not sure when creditors aiming to extend it loans would meet.

Meanwhile, Vice Minister Masato Kanda said Japan, as this year’s Group of Seven (G7) chair, expects Russia’s invasion of Ukraine to dominate talks this year among the world’s major advanced economies.

Vice Minister Kanda, who will oversee deputy-level negotiations on economic policy among the G7 nations this year, said among other issues at the top of the G7 agenda would be global debt problems.

He noted that while aggressive U.S. interest rate increases last year weighed on emerging market dollar-denominated debt, middle-income countries have been left without an international arrangement to address the debt crisis.

Accordingly, leaders of the major advanced economies are expected to discuss the debt issues faced by middle-income countries such as Sri Lanka at length.

Japan was one of the first countries that President Ranil Wickremesinghe reached out to, to solve Sri Lanka’s economic crisis, after assuming office last year.

Japan responded positively from the outset and now the government is in the final stages of agreement on a four-year Extended Fund Facility with the International Monetary Fund.

SL still awaiting an India-like assurance from China to IMF

Posted on January 26, 2023 | by TELO Admin | Leave a Comment

The International Monetary Fund (IMF) is awaiting financial assurances, similar to what has been provided by the Government of India, from China and the Paris Club members, for it to proceed with the agreed Extended Fund Facility (EFF) to Sri Lanka, said the Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe last noon (25) during the first monetary policy review press conference for the year.

Dr. Weerasinghe stated that once China and the Paris Club provide their assurance letters to the IMF, the Fund will analyse the letter and determine whether this letter meets the requirements before proceeding with the next step.

“India has provided a financial assurance which is acceptable to the IMF. The Paris Club and China are in the process of issuing similar financial assurances. This process is making good progress. An assurance letter is a matter between creditors and the IMF. The IMF will require a maximum of four weeks upon receiving these two letters before providing the approval for the EFF,” Weerasinghe stated.

However, when a journalist queried whether the Central Bank is satisfied with the two-year moratorium provided to Sri Lanka by the Export and Import Bank of China, Weerasinghe neither denied nor acknowledged the matter, and refused to comment.

Earlier this week, the Export-Import Bank of China offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure a $ 2.9 billion loan from the IMF. The letter comes amidst Sri Lanka’s ongoing debt restructuring talks with creditors and a financial assurance letter issued by India.

According to the Governor, the EFF with the IMF is in its final stages and is likely to be received by the first quarter of this year, as mentioned in previous press conferences.

UK ready to consider financing assurances for Sri Lanka to secure IMF deal

Posted on January 26, 2023 | by TELO Admin | Leave a Comment

The United Kingdom is “ready to consider” financing assurances to Sri Lanka to secure a 2.9 billion US dollar extended fund facility (EFF) with the International Monetary Fund (IMF), a UK official said.

Minister of State (Foreign, Commonwealth and Development Office) Anne-Marie Trevelyan told the British parliament on Tuesday January 24 that the UK is fully supportive of the proposed Coordination Platform between Sri Lanka’s Paris Club and non-Paris Club creditors, which the British government believes represents the most efficient way to restore debt sustainability in Sri Lanka.

“Constructive engagement across creditors is vital to secure a prompt and comprehensive International Monetary Fund programme for Sri Lanka and ensure a sustainable economic recovery. As a member of the Paris Club, the UK stands ready to consider the necessary Financing Assurances to secure an Extended Financing Facility with the IMF in a timely manner,” she said.

Trevelyan was responding to a question posed by Conservative MP Bob Blackman to Secretary of State for Foreign, Commonwealth and Development Affairs James Cleverly on what assessment he has made of the implications for his policies of a statement a previous statement from economists and academics calling on creditors to share the burden of debt restructuring for Sri Lanka.

Sri Lanka is cautiously optimistic that the IMF bailout package will come through in the first quarter, with IMF board approval anticipated some time in March. India has already assured the IMF of its assistance to Sri Lanka’s debt restructuring plans, with a confirmation from China also expected in the coming weeks.

The island nation is going through its worst currency crisis in decades and the IMF loan would help unlock other avenues of financing that’s desperately needed.

Election Commission says not informed of any resignation yet

Posted on January 26, 2023 | by TELO Admin | Leave a Comment

The Election Commission of Sri Lanka has stated that they are yet to receive any resignation letters from its members, contrary to various media reports.

Accordingly, the Commission noted that preparations for the upcoming 2023 Local Government (LG) election are being carried out uninterruptedly, as no resignation letters or copies of said letters have been received thus far.

The LG election is scheduled to be held on 09 March.

Mrs. P.M.S. Charles, a member of the Commission, had reportedly tendered her resignation letter to President Rani Wickremesinghe yesterday (25 Jan.), sources had told Ada Derana.

Accordingly, the source stated that Mrs. Charles has informed the President that she will resign from the commission with effect from January 25, 2023.
When inquired by Ada Derana, however, the Election Commission had stated yesterday that they have not been notified in this regard so far.

Sri Lanka c.bank holds rates as it awaits crucial IMF deal -Reuters

Posted on January 25, 2023 | by TELO Admin | Leave a Comment

Sri Lanka’s central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability.

The island nation of 22 million people, which is trying to clinch a $2.9 billion IMF funding package, is in the grip of its worst economic crisis since independence from Britain in 1948.

The Standing Lending Facility (LKSLFR=ECI) rate was held steady at 15.50% while the Standing Deposit Facility Rate (LKSDFR=ECI) was kept unchanged at 14.50%, remaining at their highest levels since August, 2001.

“The Board … was of the view that the maintenance of the prevailing tight monetary policy stance is imperative to ensure that monetary conditions remain sufficiently tight to rein in inflationary pressures,” the Central Bank of Sri Lanka (CBSL) said in a statement.

“Market rates are adjusting as expected, so there was no need to touch policy rate,” said Udeeshan Jonas, chief strategist at CAL Group.

The CBSL had increased rates by a massive 950 basis points between August 2021 to July 2022 to fight runaway inflation. Policymakers are still grappling with challenges on several fronts including a shortage of foreign currency, a collapse in the rupee, a steep recession and slowing global growth.

CBSL Governor P. Nandlal Weerasinghe said there was little room to cut rates until the foreign exchange reserves position stabilises.

However, the situation has improved and the market can support around $1 billion in imports, he said.

Tight monetary and fiscal policies will help bring down inflation to desired levels by the end of 2023 and restore price and economic stability over the medium term, CBSL said in the statement.

After hitting an annual peak of 68.9% in September, consumer inflation moderated to 57.2% in December.

IMF DEAL CRITICAL

Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, Weerasinghe said in a speech to the private sector on Tuesday and expressed optimism about talks with creditors at today’s news conference.

“If IMF gets assurances, then expect the program to be unlocked in the first quarter of this year,” he told reporters.

India told the IMF last week that it strongly supports Sri Lanka’s debt restructuring plan, a crucial endorsement for Colombo as it tries to secure the four-year $2.9 billion programme with the global lender.

“It is important CBSL is clear in their communications about domestic debt restructuring, whatever the eventual decision, since that’s the big driver of the risk premia attached to market rates,” said Thilina Panduwawala, head of research at Colombo-based Frontier Research.

Weerasinghe said it was too early to discuss domestic debt restructuring.

MARKET RATES FALLING

Market interest rates have begun to move down and are expected to ease further, the central bank said.

Interest rates on three-month government securities have eased to about 30% from a peak of around 32% earlier this month.

“They may only start looking at policy rate revisions once inflation makes a substantial turn and the IMF deal is through,” said CAL Group’s Jonas.

China’s diplomatic manoeuvre on Dalai Lama visit ludicrous

Posted on January 25, 2023 | by TELO Admin | Leave a Comment

The Charge d’affaires of the Chinese embassy in Colombo Mr. Hu Wei is reported to have conveyed to the Most Venerable Mahanayake Thero of the Malwatte Chapter Thibbatuwawe Sri Sumangala Thero, whom he met in Kandy on January 11, 2023, his government’s strong opposition against His Holiness the Dalai Lama visiting Sri Lanka and that if such a visit was allowed by the Sri Lankan government the historical China-Sri Lanka relations will be damaged.

In a Colombo-datelined report of January 18 in ‘The Citizen’, Mr. Wei is also reported to have stated that the Dalai Lama is not ‘a simple monk’ but ‘a separatist’ trying to secede Tibet from China and, therefore, the Buddhist communities of Sri Lanka must safeguard the relations.

Not only political analysts or international political observers but any ordinary individual can see the stupidity and unhistorical falsehood of the statement that has been made with ulterior motives in a tone threatening the sovereignty of a democratic country and also the chief prelates of its principal religion. Mr. Wei has also been quoted as saying that Tibet remained part of China; there are over 46,000 monks and nuns in over 1700 Buddhist temples; the overall GDP per capita income, life expectancy and well-being have gone up several fold under the Chinese communist administration; and that Tibet has been transformed from serfdom to ‘democracy’.

History bears witness to the tragic and most heart-rending fact that up to 6000 monasteries and shrines were destroyed, hundreds of thousands of people who protested and fought against Chinese military invasion were slaughtered, their women were raped and killed, the precious and well-preserved and valuable Tibetan culture and tradition got progressively eradicated, famines were experienced repeatedly for the first time in recorded history of Tibet with hundreds of thousands dying due to starvation, civilians and Buddhist monks in large numbers committed suicide by self-immolation, thousands of people who protested were tortured and incarcerated in concentration camps and the others those who could manage, including Buddhist monks and civilians, fled the country in their thousands seeking asylum in India and in other countries.

The gentleman spoke of the well-being of the people and the increased GDP per capita income are achievements in almost all world nations as a changing world phenomenon, except in some Asian and African countries due to specific reasons. But the gentleman who made that statement should realize that the people who follow Buddhist concepts do not seek personal or economic welfare but a simple life and the freedom to live their life as they want and achieve spiritual uplift and that is exactly what the Tibetan people wanted and still do and the fact remains that they had it under the spiritual leadership of His Holiness the Dalai Lama and they loved him and look forward to the golden day of his return to their country as its spiritual and temporal leader.

The Dalai Lama fled to India over six decades ago during the initial stages of Chinese military invasion after coming to know that he was invited to China with the motive of assassinating him. The thousands of Tibetan Buddhist monks and civilians who fled Tibet after him are living peacefully and happily in many world nations, telling aloud to the world the sub-human and bestial treatment that the Tibetans got under the Chinese military invaders and what miserable life they are now living under the communist rulers. In fact, the Chinese military rulers will not find even a single genuine Tibetan Buddhist civilian or monk who will say, after these six decades of military rule, that he or she is happy under the Chinese military rule. All Tibetans abroad, including His Holiness the Dalai Lama, are continuing to voice for the liberation of their mother land from the military grip of the non-religious communist rule.

The chief prelates of Sri Lankan Maha Sangha had once again extended their invitation to the Dalai Lama for pilgrimage in Sri Lanka under the current state of severe economic downturn back here with strong hopes and beliefs that his visit will help boost the economy to certain extent because he has many millions of followers throughout the world and some of them are heads of multinational companies and globally recognized affluent individuals with prospects of investing in Sri Lanka while on the other hand his visit to Sri Lanka will help boost spiritual tourism because such a phenomenon was witness in Bodh Gaya where the five-year International Pali and Sanskrit Bhikkhu Exchange programme was launched on December 27, 2022.

When they extended the invitation to His Holiness the Dalai Lama, they never anticipated that China would take all possible measures to block his visit, like on all previous occasions, because Sri Lanka needed help from all quarters at her present precarious economic condition and that any country would most willingly support such help coming from any source. However, China reacted negatively, instituting immediate diplomatic and other political measures to prevent the visit. Their Charge d’affaires visited the Mahanayake Theros of the Asgiriya and Malwatte chapters hurriedly with lorry-loads of dry rations and other relief measures to ‘bribe’ the chief prelates and ‘demand’ from them, citing the purported ‘national welfare’ as a reason, to defer from their intention of bringing down His Holiness the Dalai Lama. Here, they have gone one step further and described His Holiness as a ‘separatist’, implying as if Tibet remained part of China from time immemorial and he was trying to separate it. But stupidity from a diplomat trying to hoodwink the entire world as China militarily snatched away Tibet from its most beloved spiritual and temporal leader and its innocent peace loving and ardent Buddhist followers. The Dalai Lama remains the most beloved global Buddhist leader and the most honored guest of the Government of India for the last six decades. He is the recognized and renowned Buddhist spiritual leader who frequently meets with political and spiritual leaders of world nations and tirelessly conveys the noble teachings of the Buddha all over the world attracting hundreds of thousands of followers and admirers after him from all over the world. How ridiculous to call him a separatist because he wants his own country back from the communist military leaders who snatched it under military invasion!

The Charge d’affaires of the Chinese embassy is also quoted as saying that Tibet forms part of China as either Kandy or Jaffna forms part of Sri Lanka. This is the highest level of ludicrousness to which anyone can drop down to and a diplomat of the most populous land has dropped down to that level. Pages of history stand witness to what inhuman, barbarous atrocities were committed by the Chinese for snatching away Tibet from its legitimate rulers and citizens. So let us hope that the Chinese would revisit their strong and rigid stand with regard to the visit of the Dalai Lama to visit Sri Lanka with a noble outlook.

Source:The Leader

Tense situ after hundreds attend free fake Turkey job interview in Colombo

Posted on January 25, 2023 | by TELO Admin | Leave a Comment

One suspect from a group that had duped many people by providing misleading information pertaining to a job interview in Colombo organized by an employment agency has been arrested, Minister of Foreign Employment and Labour Manusha Nanayakkara said on Wednesday.

Minister Nanayakkara told NewsWire that a third party had misled the public about a fake job interview by publishing a notice on social media platforms.

“There are some job opportunities in Turkey, but those will be officially informed. I urge job seekers to follow our official channels rather than falling prey to these types of fake job scams,” the minister said.

The Sri Lanka Bureau of Foreign Employment (SLBFE) stated that an interview had been organized by a registered employment agency for specific jobs, while official letters had also been issued to prospective job seekers.

The SLBFE stated that, however, an individual had scammed the public via social media claiming that free jobs were being offered during the interview today, prompting hundreds of people to report for the interview, resulting in a tense situation.

Meanwhile, the Turkish Embassy in Colombo said neither the Embassy nor the Turkish Ministry of Interior are related or connected with any recruitment activities of manpower.

“It has been brought to the immediate attention of the Embassy that some misinformation is being circulated in social media according to which Türkiye has been recruiting manpower in Sri Lanka. The Embassy would like to hereby inform neither the Turkish Embassy in Colombo nor the Turkish Ministry of Interior are related or connected with such recruitment activities, seemingly organised by some private individuals,” the Turkish Embassy said in a statement.

It is reported that over 1000 individuals had travelled to Colombo from across Sri Lanka for a Turkish Job interview after seeing a social media post.

The Police had to be deployed to control the situation which turned violent at the JR Jayawardena Center in Colombo after job seekers were turned away.

Election Comm. asks CBSL for help after CEB and CPC highlight dollar shortage

Posted on January 25, 2023 | by TELO Admin | Leave a Comment

The National Election Commission in a letter to the Governor of the Central Bank of Sri Lanka has inquired over the possibility of making available the facilities required for the upcoming election.

The letters inquired the Central Banks’ position to provide US dollars for the Ceylon Petroleum Corporation and the Ceylon Electricity Board to supply electricity and fuel for the election.

At the recent meeting with the National Election Commission, the CPC and the CEB had pointed out that they are short of US Dollars to ensure a continuous supply of electricity.

They had requested the National Election Commission to inquire from the Central Bank of Sri Lanka on supporting them to avert a dollar crisis.