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CB to maintain interest rates at current level

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The Central Bank said on Tuesday it had decided to maintain its Standing Deposit Facility Rate and Standing Lending Facility Rate at the current level of 15.50 percent and 16.50 percent, respectively.

Its Monetary Board made the decision after considering recent and expected developments related to both the domestic and global economy as well as macroeconomic projections, the bank said in a press release.

The board noted that sticking to a tight monetary policy stance is necessary to ensure that monetary conditions remain sufficiently tight to facilitate the continuation of the ongoing disinflation process amidst the improvements in market sentiments following the finalisation of the Extended Fund Facility (EFF) from the International Monetary Fund (IMF) and the downward shift in elevated market interest rates reflecting the falling risk premia.

The Central Bank said inflation (year-on-year) based on the Colombo Consumer Price Index (CCPI) reduced for the sixth consecutive month in March 2023.

Despite a sizable impact from the recent hike in electricity tariffs and envisaged second round effects of previous hikes, headline inflation moderated in March 2023, mainly reflecting a larger-than-expected reduction in food inflation, the Bank said.

Inflation is expected to reduce faster from April 2023 with the reduction in domestic prices of essentials following the greater pass through of the moderation of global commodity prices and the recent appreciation of the Sri Lanka rupee, and the large disinflationary impact arising from the base effect, it said in a press release.

Headline inflation is projected to reach single digit levels by end 2023 and stabilise at desired levels thereafter over the medium term, the Central Bank said.



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We aspire to build a nation where all citizens coexist in peace and resilience for the future generation -PM

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Prime Minister Dr. Harini Amarasuriya stated that the government is ready to listen to the people and aspire to ensure a peaceful and united nation for future generations.

The Prime Minister made these remarks while addressing public gatherings on April 20 at the Manik Farm Community Development Centre in Settikulam and the Ukkulankulam Ground in the Vanni electoral district.

The current Parliament has the highest number of female representation in its history. Previously, women constituted less than 5% of Parliament out of the total number of 225  However, 52% of the country’s population are women.

Women play a significant role in sustaining the economy, maintaining family structures, and upholding society yet their representation in decision-making bodies has been limited. Therefore, we urge you to elect not only male representation to Parliament but also more female representatives from the Vanni district.

Vavuniya is currently developing into a thriving city. Therefore, essential services expected from provincial councils must be effectively delivered. Local government bodies should actively participate in the development of the rural sector.

We recognize that education holds significant value for the people of the North. You place great importance on education. However, the country’s education system has deteriorated and weakened. Specifically, the lack of necessary attention to the education sector in the North has made it more challenging compared to other regions. Moreover, I have learned of a more alarming issue that the diminishing value placed on education by young men and women. Clandestine Drug Distribution and alcohol are now readily visible in everywhere. There are no avenues for youth to find joy while avoiding these substances. The underdevelopment of fields such as science, arts, and drama has left them without means to find happiness. Therefore, significant interventions must be necessary.

If you elect a group that is free from corruption and fraud, we can allocate funds without hesitation, ensuring they reach the appropriate hands. These funds can then be directed towards the development of your village. That is why your choice is important.

The events were attended by Deputy Minister of Co-operative Development, Upali Samarasinghe, Vavuniya District MPs S. Thileepan and M. Jegatheeswaran, along with the local government candidates and residents.

[Prime Minister’s Media Division]

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Exposition of sacred tooth relic extended by an hour –

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[file pic]

The Sri Dalada Maligawa has announced that due to the large number of devotees coming to Kandy to venerate the sacred tooth relic, the  time of exposition of the sacred tooth relic has been extended by an hour.

Accordingly the public can pay homage from 11.30am upto 05.30pm from today [21]

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Pope Francis has died at the age of 88, Vatican says

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Pope Francis has died at the age of 88, the Vatican has announced.

His Eminence, Cardinal Farrell, announced with sorrow the death of Pope Francis, with these words: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis. At 7:35 this morning (local time), the Bishop of Rome, Francis, returned to the house of the Father. His entire life was dedicated to the service of the Lord and His Church.” “He taught us to live the values ​​of the Gospel with fidelity, courage and universal love, especially in favour of the poorest and most marginalised.”

Farrell adds: “With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite merciful love of the One and Triune God.”

Francis’s papacy heralded many firsts and while he never stopped introducing reforms to the Catholic Church, he remained popular among traditionalists.

He was the first Pope from the Americas or the southern hemisphere. Not since Syrian-born Gregory III died in 741 had there been a non-European Bishop of Rome.

He was also the first Jesuit to be elected to the throne of St Peter – Jesuits were historically looked on with suspicion by Rome.

Francis’s predecessor, Benedict XVI, was the first Pope to retire voluntarily in almost 600 years and for almost a decade the Vatican Gardens hosted two popes.

As Cardinal Bergoglio of Argentina, he was already in his seventies when he became Pope in 2013.

[BBC]

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