News
No restructuring of domestic debt, says CB Governor
External debt restructuring remained a top priority for the Sri Lankan government, but domestic debt in the form of government securities and Sri Lanka development bonds would not be restructured, Central Bank Governor Dr. Nandalal Weerasinghe announced on Thursday (28).
Dr. Weerasinghe said so, speaking at a meeting of the Committee of the Ceylon Chamber of Commerce, as the Guest Speaker. He also provided an update on the progress made during the discussions with the International Monetary Fund and World Bank, last week.
Noting that encouraging progress had been made towards establishing a macro-fiscal policy framework and initiating structural reforms, Governor Dr. Weerasinghe expressed said staff-level agreement with the IMF was likely to be reached within the next two months.
Dr. Weerasinghe also announced that additional measures would be implemented to address urgent economic concerns. The measures include introducing regulations to encourage USD flows currently transacting in the informal market to be channeled through the formal banking system. As a result of policy measures already introduced by the Central Bank and the government, he said he was of the view that expenditure on imports would further decline to more sustainable levels.
The Governor also highlighted the need to strengthen the social safety net due to the rising cost of living. To this effect, multilateral agencies such as the World Bank would be looking to reallocate funds committed for projects towards assisting vulnerable segments of the population, he stated.
Dr. Weerasinghe said that while expediting IMF negotiations and implementing sustainable economic policy reforms being the main priority, IMF action will continue regardless of the developments on the political landscape. He also stressed that all creditors would be treated equally in the debt-restructuring process. The Governor sought the assistance of the private sector to implement measures to stabilise the economy.
The Ceylon Petroleum Corporation (CEYPETCO) has announced a reduction in the prices of Petrol 92 and Petrol 95, effective from midnight today (30).
The price of Petrol 92 has been reduced by Rs. 15 per litre, from Rs. 414 to Rs. 399 while the price of Petrol 95 Octane has been reduced by Rs. 20 per litre, from Rs. 495 to Rs. 475
There will be no change in the prices of diesel, Super Diesel and kerosene under the latest revision.
The book “Rathuwewi Mihimadala”, written based on the life story of Vasudeva Nanayakkara, Leader of the Democratic Left Front, was launched on Friday [August 28] at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo, with the participation of Prime Minister Dr. Harini Amarasuriya.
Speaking to the media afterwards about Vasudeva Nanayakkara, Prime Minister Dr. Harini Amarasuriya stated:
“Vasudeva Nanayakkara is a prominent figure in Sri Lankan politics, particularly within the left-wing political movement. There were several influential figures within the left movement, and that left-wing influence also contributed to bringing the country to where it is today. Politically, there were areas where we agreed and areas where we did not. However, I have great respect for the contribution made by Vasudeva Nanayakkara to left-wing politics. When I entered Parliament in 2020, Vasudeva Nanayakkara was also in Parliament. We sat in the same row, and we spoke about many important as well as interesting moments in his political career. I believe some of these experiences have also been included in this book.”
The event was attended by members of the Maha Sangha, Minister of Justice Harshana Nanayakkara, former President Maithripala Sirisena, former Speakers Karu Jayasuriya and Chamal Rajapaksa, as well as party members, family members and friends.
[Prime Minister’s Media Division]
Latest News
Sun directly overhead Mannar, Periyamadu, Puliyankulam, Welioya and Pulmoddai about 12.11 noon today (30)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (30) are Mannar, Periyamadu, Puliyankulam, Welioya and
Pulmoddai about 12.11 noon.
Petrol to cost less from midnight today (30)
Head teacher evacuated 900 children minutes before school washed away by Nepal floods
UPDATE: Seven killed and 23 missing after boat capsizes off northern Cyprus, says Turkish Cypriot PM
Iceland votes against restarting talks on joining EU
“Rathuwewi Mihimadala” Book Launched with the Participation of the Prime Minister
Turkiye, Somalia forces free cargo vessel hijacked by pirates
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News6 days agoMissing doctor’s body found in Mahiyanganaya
-
News6 days agoAustralia declines to release Finance Secy Suriyapperuma’s citizenship details
-
News6 days ago22A: BASL suggests CJ recuse himself from hearing petitions
-
News3 days agoEight politicians in drug kingpin probe
-
Editorial7 days agoGovts. drag feet as undergrads age
-
Business3 days agoSri Lanka opens up: A new season of direct connectivity
-
Features5 days agoInsights from Chieftains of Uva: Genealogy of two Kandyan Families – Part II
-
Features3 days agoRedefining ageing in Sri Lanka