Sri Lanka parliament to debate government’s agreement with IMF on three days next week

Sri Lanka parliament will debate the government’s agreement with the International Monetary Fund for the USD 2.9 billion Extended Fund Facility on three consecutive days next week.

The Committee on Parliamentary Business has decided that the Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) for Sri Lanka will be debated on the three consecutive days on the 26th 27th and 28th of April.

The Acting Secretary General of Parliament Mrs. Kushani Rohanadeera announced that the decision was taken at the meeting of the Committee on Parliamentary Business held today (20) under the Chairmanship of Ajith Rajapakse, Deputy Speaker of Parliament.

The Government of Sri Lanka and the International Monetary Fund have entered into an agreement for the rapid progress in the economy of Sri Lanka and for sustainable economic growth that will benefit the present and future generations.

The arrangement for the 48-month Extended Fund Facility of about 3 billion USD was tabled on March 22nd, 2023.

Whilst the proposal submits that the Ministry of Finance, Economic Stabilization and National Policies should provide all necessary approvals for the implementation of the said setup, a vote is to be followed post the three-day debate if necessary.

Parliament is scheduled to convene from the 25th to the 28th and 9.30 am to 10.30 am has been allocated for Questions for Oral Answers.

Accordingly, on Tuesday, April 25th, Order under the Code of Criminal Procedure (Special Provisions) Act published in the Gazette Notification 2317/28 dated January 30th, 2023 is scheduled to be taken up for debate from 10.30 am to 5.00 pm.

Thereafter, the Motion at the Adjournment Time by the Government will be taken up from 5.00 pm to 5.30 pm.

Following Questions for Oral Answers, on April 26th, it has been agreed to approve without debate the Resolution under the Essential Public Services Act published in the Gazette Notification 2328/02 dated April 17th, 2023 by the President.

Thereafter, the Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka will be taken up for debate until 5.00 pm.

It was also decided to present for approval 13 motions regarding the Annual Reports of various Statutory Institutions.

Furthermore, it was also agreed to present the Private Member Bills, Kelaniya Buddhist Women’s Charitable Society (Incorporation) Bill and Sri Lanka Institute of Taxation (Incorporation) (Amendment) Bill for its second reading.

Thereafter, time has been allotted from. 5.00 pm to 5.30 pm for Questions at the Adjournment Time.

On the 27th and 28th the Resolution for the implementation of the arrangement under the Extended Fund Facility (EFF) of the IMF for Sri Lanka is scheduled be debated for the second and third consecutive days from 10.30 am to 5.00 pm.

On the 27th of April the Motion at the Adjournment Time by the Opposition will be held from 5.00 pm to 5.30 pm.

Following the debate on April 28th, it has been agreed to approve the Inland Revenue (Amendment) Bill without debate.

Thereafter, time has been allotted from. 5.00 pm to 5.30 pm for Questions at the Adjournment Time.

Sri Lanka GDP outlook slashed as economy struggles to recover – Bloomberg

Economists sharply cut Sri Lanka’s growth outlook for the rest of the year as curbs on imports and still-limited reserves persist, even as the International Monetary Fund (IMF) releases bailout loans and the authorities work towards debt-restructuring efforts, the latest Bloomberg survey of economists showed.

According to Bloomberg News, the economic contraction is predicted to more than double from 4.4 per cent to 9.9 per cent in the first quarter. Growth is likely to bounce back from the second quarter, though at a slower pace of 1 per cent from an estimated 2.9 per cent previously.

For the full year, Sri Lanka’s gross domestic product estimate was revised to 0.7 per cent from 2.7 per cent, the survey showed.

Last year, the South Asian nation grappled with its worst economic crisis since independence as US dollar shortages and shrinking reserves, together with an infamous organic fertiliser policy, led to crop failures and severe shortages of food and fuel. People took to the streets to protest, eventually forcing a change in leadership as the economy nearly came to a halt and inflation surged.

While there are signs of stability with food and fuel imports coming in and the IMF approving a US$3 billion loan, some economists say the current economic situation is nowhere close to pre-pandemic normalcy.

“Conditions are still weak, but are tilted to the upside,” said Andrew Vogel, an economist at S&P Global.

He added that Sri Lanka has very few usable foreign reserves and significant restrictions on imports. Moreover, a still-ongoing moratorium on external debt payments pending restructuring agreements is keeping conditions uncertain.

The island nation’s double-digit inflation, which is Asia’s fastest, is expected to persist this year, the Bloomberg survey showed. Economists foresaw consumer prices surging to around 28.8 per cent in the second quarter and averaging around 25 per cent for the year.

They also forecast a cumulative 100-basis-point hike in the benchmark rates in the second quarter. They expected this to hold at least until the end of the third quarter before the easing cycle begins.

The Central Bank of Sri Lanka has kept its key rate at the highest level since August 2001 to support growth, despite price gains remaining stubbornly high at 50.3 per cent in March. The monetary authority predicts that headline inflation will slow to single-digit levels by end-2023.

LG polls postponement gazette issued

The local government polls have been postponed further through a gazette notification issued by the district returning officers.

The gazette notification says it is not possible to hold the LG polls on April 25 as the Treasury is yet to release the funds required for the election.

The LG polls were first postponed from the originally fixed date of March 09.

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Catholic Church marches demanding justice

Sri Lanka’s Catholic Church has planned to march on Thursday (20), to mark four years since the 2019 Easter attacks which falls on Friday (21).

The Catholic Church said justice has not yet been served for the victims of the 2019 April 21st attacks.

Rev. Fr. Jude Krishantha, the Media Director of the Archdiocese of Colombo, said the march which will commence from the Katuwapitiya Church at 9 PM on Thursday (20) and is due to arrive at the St. Anthony’s Shrine in Kochchikade early on Friday (21) morning.

He said several special masses and silent protests have also been organized to mark four years since the attack.

IGP among cops and politicians who met MR

Inspector General of Police (IGP) C.D. Wickramaratne was among a number of policemen and politicians who met former President Mahinda Rajapaksa to greet him for the Sinhala and Tamil New Year.

Rajapaksa’s office posted images on social media of some of those who visited him at his residence to greet him for the New Year.

Among those seen greeting the former President and having a conversation with him was IGP Wickramaratne.

Former Navy Commander Wasantha Karannagoda was also pictured meeting the former President.

A number of other policemen and Sri Lanka Podujana Peramuna (SLPP) MPs, including Cabinet Ministers, also visited the residence of Mahinda Rajapaksa and greeted him for the traditional New Year.

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“We Never Asked For The Importation Of 100000 Rilawas”: Chinese Embassy Issues Statement

The Chinese Embassy in Sri Lanka has issued a statement clarifying that the Chinese National Wildlife and Grassland Administration Unit has not received any application for the importation of 100,000 rilawas from Sri Lanka.

The statement also notes that the unit has no knowledge of a request for the importation of 100000 rilawas from Sri Lanka. The Chinese National Wildlife and Grassland Administration Unit is responsible for monitoring and managing the import and export of wild animals and plants to and from China, and permission must be granted by the unit for such activities.

The embassy’s statement comes in response to reports in local and international media claiming that Sri Lanka was ready to export 100,000 endangered relaws to a Chinese private company for research. The Sri Lankan Minister of Agriculture, Mahinda Amaraweera, has previously made clarifications on the matter.

The Chinese Embassy has made inquiries to the National Wildlife and Grassland Administration Unit to address the issue.

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Monkeys exported to China to be eaten raw while they are alive: Environmentalists

Environmentalist Nayanaka Ranwella said today that according to investigations conducted by them, the government is planning to send 100,000 monkeys to China for their brains to be eaten raw while they are still alive.

The issue of exporting monkeys to China had become the main topic in the country. However, according to the Wildlife Protection Act, there are no legal provisions to export a large number of wild animals to other countries.

“According to the Act, our country cannot export animals for money as we have signed an agreement not to engage in the sale of wild animals.

“Exporting wild animals will not help in bringing in foreign exchange. However, it has been reported that the wife of a senior official of the Coconut Development Board has been involved behind the scenes with this program,” Ranwell said.

Moreover, he said that a special meal preparation method is underway in China, which involves eating the monkeys’ brains in the raw while they are still alive.

Also, it was reported that an order for a large number of monkeys was received from America as well. These monkeys have a similar body structure to that of the humans, so they would be used in laboratories to conduct final medical tests.

Ranwella requested the government not to export the monkeys, but insted to take a decision to export the parliamentarians who have ruined the country.

“Because of these monkeys a large share of crops are being destroyed. But exporting them is not a solution. We have already proposed solutions to protect the crops, but none in the government are even prepared to listen to them,” Ranwella added.

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Vedukkunaari mountain temple meets with Indian High Commissioner to Sri Lanka

Representatives from the administrative body of the Vedukkunaari mountain temple and several Hindu organisations from Vavuniya met with the High Commissioner of India to Sri Lanka to discuss issues related to threats to the temple.

The administrative body of the Athi Lingeswaran Temple shared concerns about the destruction and vandalism of idols in their temple, obstacles presented by the Archaeological Department to replace and reconsecrate the idols, and ongoing Sinhala colonisation of various villages on the border of the Northern provinces with the High Commissioner. They also presented documentation detailing these issues over the past few years.

The temple administration reported that the High Commissioner promised to address these issues in relevant forums to resolve them amicably and as soon as possible.

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Campaign begins to prevent state’s invasions in northeast

A seven-hour hunger-strike in Jaffna has marked the beginning of a campaign, described by organizers, as one to prevent invasions by the state to change the racial and religious heritage of the northeastern Tamils.

Hindu, Christian and Catholic priests as well as a number of politicians attended the event at Nallai Adheenam Ashram from 9.00 am to 4.00 pm.

Their campaign is based on five demands to safeguard the Tamil heritage, including an immediate halt to all attempts by the state to change the demography in the two provinces.

A parallel signature campaign also started.

India gets more space as Sri Lanka amends aviation law

The Sri Lankan cabinet has given the go-ahead to amend the country’s civil aviation law to allow public-private partnerships in the aviation sector, a development that may open up opportunities for Indian companies.

Sri Lanka may allow the participation of private companies in ground handling at the airports at the initial stage, said people familiar with the matter.

In December 2022, the Indian High Commissioner to Sri Lanka, Gopal Baglay, had said that India was ready to work with the Sri Lankan government in upgrading and expanding the facilities at the Palaly international airport in Jaffna. It would especially benefit the small and medium segments of the business, apart from strengthening the traditional ties between the people of the two countries, he had said.

Recently, SriLankan Airlines said it will start operations from additional three cities in India, including Ahmedabad, to attract more Indian customers. At present, it operates in nine Indian cities. FitsAir, Sri Lanka’s first privately owned international airline, inaugurated its flights on the Colombo-Chennai sector in February. Chennai is its first destination in India.