Sri Lanka Original Narrative Summary: 21/09

  1. President Ranil Wickremesinghe meets King Charles III in London: also meets the Sri Lankan diaspora in UK and invites them to foster new investment opportunities in the country: asserts that all must get together to fight “bankruptcy”.
  2. Analysts say Government’s interest expenditure increased by a staggering Rs.398bn in just over 5 months since the Central Bank upped it’s policy rates by 7% on 8tb April: additional expenditure on T-Bills interest – Rs.99bn, and on T-Bonds – Rs.299bn: assert the fiscal deficit has risen to untenable levels.
  3. Government MPs call upon PM Dinesh Gunawardene to have a Parliamentary Select Committee appointed to carry out a probe on tax evaders and consultants who aid and abet tax evasion.
  4. Mahanayake Theras of the three main Chapters call for a methodical and concessionary electricity tariff policy for places of religious worship: Power and Energy Minister Kanchana Wijesekera says only 12,586 religious places out of 48,682 get electricity bills over Rs.3,990 per month.
  5. SLFP sources say their MPs who accepted Ministerial portfolios from the Government will be removed from their official positions in the party.
  6. Indian High Commission in Sri Lanka says India has begun talks with Sri Lanka on restructuring its debt: also says first round of talks with Sri Lankan officials held on 16th September were cordial, symbolising India’s support for a speedy commencement of an IMF programme.
  7. Tourism earnings increase in the first 8 months of 2022 to USD 893mn from USD 63mn in 2021: Workers’ remittances decrease in first 8 months of 2022 to USD 2215mn from USD 4,224mn in 2021, although Rupee has been depreciated from 200 per USD to 365 per USD.
  8. Shavindra Fernando PC submits to the Supreme Court that Sri Lanka recorded its best-ever growth and other macro-economic indicators when his client Ajith Nivard Cabraal was Governor from 2006 to …read more

    Source:: LNW English