News
Under RW’s watch economy has further deteriorated – Prof. Peiris
…interest payments alone increased by USD 2.8 bn; foreign debt USD 100 bn
By Shamindra Ferdinando
Declaring that the economy had further deteriorated under President Ranil Wickremesinghe’s watch since July 2022, dissident SLPP parliamentarian Prof. G. L. Peiris said that the government was working overtime to depict a much improved situation.
Addressing the media at the weekly media briefing held by the Jathika Nidahas Sabhawa at Nawala, the former External Affairs Minister having compared the Gross Domestic Product (GDP) and national debt as at April 2022 when Sri Lanka declared bankruptcy and current figures pointed out the further deterioration of the economy.
Lawmaker Peiris stressed that the foreign debt has increased to USD 100 bn from USD 82 bn in April 2022.
Referring to the latest IMF report that dealt with Sri Lanka, the former Minister emphasised that the IMF assessment of the economy here is contrary to the government propaganda. Prof. Peiris explained how the interest payments had increased by USD 2.8 bn during this period whereas the government propaganda chiefs continued to propagate lies claiming the contrary.
The ground reality is that instability increased and the country absolutely lacked the wherewithal to start paying back its debt and the accompanying interest, MP Peiris said.
Commenting on ISB (international sovereign bonds) amounting to USD 12 bn, Prof. Peiris said that Sri Lanka couldn’t reach consensus on an agreement favourable to the country and the situation remained the same. The recent talks held in London failed to resolve the issues at hand with regard to ISBs, Prof. Peiris said, drawing the public attention to USD 6.2 bn and USD 4.3 bn owed to the ADB and the World Bank, respectively.
Responding to The Island query, Prof. Peiris said that the ISB amounting to USD 12 bn had been included in USD 100 bn foreign debt.
The ex-Minister said that the country seemed somewhat comfortable at the moment as the repayment of debt hadn’t been resumed. Declaring that the crisis couldn’t be addressed through propaganda, the internationally reputed law academic said that the domestic debt, too, increased by 9% in the first quarter from USD 52.6 bn to USD 57.2 bn.
Commenting on the continuing controversy over the possibility of the Presidential Poll being put off by at least one year, Prof. Peiris said that, too,was part of their propaganda project.
The UNP leader Wickremesinghe has been elected by Parliament to complete the remainder of ousted President Gotabaya Rajapaksa’s five-year term.
The Indian Naval Ship (INS) Sahyadri which arrived at the Port of Colombo on a formal visit on 04 Apr 25, departed the island today (07 Apr). The Sri Lanka Navy bade customary farewell to the departing ship at the Port of Colombo, following naval traditions.
During the ship’s stay in Colombo, crew members of INS Sahyadri took part in several programmes organized by the Sri Lanka Navy, aimed at enhancing mutual cooperation. In addition, they also explored some tourist attractions in the country. Further, personnel of Sri Lanka Navy had the opportunity to visit INS Sahyadri, gaining insights into her operational capabilities.
Latest News
Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
The Natural Hazards Early Warning Centre has issued an Advisory for Severe Lightning for the Sabaragamuwa, Central and Uva provinces and in Hambanthota district.
The advisory issued at 02.00 p.m. today [07 April 2025] is valid for the period until 11.00 p.m. 07 April 2025
The public are warned that thundershowers accompanied by severe lightning are likely to occur at several places in for Sabaragamuwa, Central and Uva provinces and in Hambantota district. There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.
ACTION REQUIRED:
The Department of Meteorology advises that people should:
Seek shelter, preferably indoors and never under trees.
• Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
• Avoid using wired telephones and connected electric appliances during thunderstorms.
• Avoid using open vehicles, such as bicycles, tractors and boats etc.
• Beware of fallen trees and power lines.
• For emergency assistance contact the local disaster management authorities.
The report of the “Census of Population and Housing 2024,” conducted by the Department of Census and Statistics, was officially handed over to President Anura Kumara Disanayake this morning (07) at the Presidential Secretariat.
This preliminary report has been prepared based on island wide data collected between October and December 2024.
The report provides details on Sri Lanka’s population, its growth and the distribution of the population across districts.
The information gathered through the census is vital not only for the government but also for other institutions in formulating policies and development plans essential for the country’s progress. Significantly, for the first time in the history of census-collecting in Sri Lanka, data collection was carried out using tablet computers and user-friendly mobile devices.
The event was attended by Deputy Minister of Finance & Planning, Harshana Suriyapperuma, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardana, Director General of the Department of Census and Statistics D.D.G.A. Senevirathne and several other officials.
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