The Archbishop of Colombo, His Eminence Cardinal Malcolm Ranjith says the root cause of the satiation Sri Lanka is facing at present is its moral collapse.

Addressing an event at the BMICH on Friday (Feb 10), the Cardinal stated that Sri Lanka is suffering from moral collapse as well, not just economic collapse.

“Morally we are not able to do what is right and people have lost all sense of justice. They have forgotten what is right.”

Raising concerns about the Independence Day celebration on Feb. 04, the Cardinal said the ceremony with 21 gun salutes, hoisting of the flag, parades on the road and ambassadors and dignitaries had been organized just to show the world that Sri Lanka is a great nation going around with a ‘begging bowl’.

He pointed out that the country reached this critical juncture due to the mistakes it has made historically, especially the introduction of an open economy due to which the country became a largely dependent economy.

General Sahir Shamshad Mirza, Chairman Joint Chiefs of Staff Committee of Pakistan, met President Ranil Wickremesinghe at the President’s Office this morning (10) during his three-day official visit to Sri Lanka.

The President engaged in discussion with General Sahir Shamshad Mirza and recalled the long-standing close relationship between Sri Lanka and Pakistan as friendly countries.

General Mirza also presented the President with a commemorative memento to mark this meeting.

President’s Secretary Saman Ekanayake, Chief of Defense Staff General Shavendra Silva, and the Pakistan Navy delegation led by Rear Admiral Abdul Basit Butt attended the discussion.

The petition filed by Retired Sri Lanka Army Colonel W. M. R. Wijesundara seeking an order to suspend all activities related to the Local Government Election was postponed to the 23rd of February for consideration.

President’s Counsel Saliya Pieris appearing for the National Election Commission filing a preliminary objection pointed out that the petitioner had failed to properly name the respondents.

In addition, he noted that the petitioner had also failed to produce the necessary documentation to prove that he is a registered voter in the country.

Therefore, the President’s Counsel requested the Supreme Court to dismiss the application without taking it up for examination.

Additional Solicitor General Nerin Pulle noted that an affidavit provided by the Finance Secretary notes that the Cabinet of Ministers had decided to allocate funds only for essential matters during an economic crisis.

He was appearing for the Finance Secretary, and the Attorney General and made the submissions.

The Supreme Court noted that the petition in question will be postponed to the 23rd of February for consideration.

Sri Lanka still needs adequate assurances from other bilateral creditors for its program to be approved, the International Monetary Fund said, after Paris Club lenders said they will re-structure debt.

“We welcome the recent statement by the Paris Club to provide financing assurances to Sri Lanka following the assurances provided by India,” an IMF spokesperson said.

“Sri Lanka continues to engage with official bilateral creditors to obtain financing assurances and also continues to advance domestic reforms.

“As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, the EFF arrangement for Sri Lanka can be presented to the IMF’s Executive Board for approval that would unlock much needed external financing.”

Sri Lanka is still negotiating with China to get assurances on debt re-structure debt in line with the requirements of the IMF.

“We are in direct discussions with China,” President Wickremesinghe said in an address to a new session of Sri Lanka’s parliament earlier this week.

“We have received positive responses from all parties. We are now working towards unifying the approaches of other countries and that of China.”

Sri Lanka has stabilized the external sector by the end of December 2022, using a peg at 360/370 to the US dollar with complementary monetary policy.

From January 2023 some injections have been done, amid pressure to bring down rates. The first quarter sees droughts and higher credit pressure on the banking system as a power utility import more fuel.

In addition to a surrender requirement, there are also some import restrictions.

The Supreme Court today gave the go ahead for the Local Government (LG) elections scheduled for 9th March.

The court said that it does not need to give an order on the polls as the National Elections Commission has given an undertaking the election will be conducted in accordance with the election laws.

A petition was filed against the polls seeking a postponement.

The Government had raised concerns over the timing of the polls as the country is facing an economic crisis.

However, the National Elections Commission had said that it will go ahead with the election.

The LG polls is seen as a test on the confidence the public have on the Ranil Wickremesinghe administration.

An application was filed with the Supreme Court seeking a writ order invalidating the preparations that are being made for the Local Government Election.

The Chairman of the Election Commission and its members, the Finance Secretary, the Prime Minister, the Cabinet Secretary, and the Attorney General were named as respondents in this application.