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CBSL Chief: SL economy will recover at rapid pace in second half of 2023

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By Shyam Nuwan Ganewatta

Sri Lanka’s economy would recover at a rapid pace in the second half of 2023, Central Bank Governor, Dr. Nandalal Weerasinghe said yesterday addressing a press conference in Colombo.Dr. Weerasinghe also said that the inflation would drop to a single digit by the end of July 2023.

Strict fiscal and monetary policy of the Central Bank was the main reason for this rapid decrease, Dr. Weerasinghe said, adding that the Central Bank did not have a predetermined level at which it would halt the appreciation of the rupee. Instead, it aimed to curb excessive volatility in the currency while allowing it to fluctuate within a flexible exchange rate framework. The CBSL had actively intervened in the market to increase reserves and prevent drastic fluctuations in the rupee’s value, the Governor said.

Since March, the rupee had appreciated from approximately 360 against the US dollar to around 290 at present. The Central Bank had purchased dollars from the market to bolster reserves and mitigate extreme movements in the rupee’s value. In May alone, the bank acquired 662 million US dollars, bringing the total net purchases to 1,671 million US dollars thus far, he said.

The Central Bank intended to lift certain exchange controls including capital flow measures in the near future. Additionally, a set of import controls will also be removed. As of the end of May, Sri Lanka’s gross foreign reserves stood at an estimated 3.1 billion US dollars, according to the Central Bank.

Regarding a budget support loan received from the Asian Development Bank, the funds were currently held in the Treasury account. However, when the Treasury required funds, the money would be given to the Central Bank in exchange for rupees, Dr. Weerasinghe said.



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Child abuse crisis: 108,000 complaints reported in 10 years

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More than 108,000 complaints of child abuse had been received by the National Child Protection Authority (NCPA) between 2015 and 2025, Women and Child Affairs Minister Saroja Savithri Paulraj told Parliament yesterday.

Responding to a question raised by Opposition Leader Sajith Premadasa under Standing Order 27/2, the Minister said 4,421 child abuse cases were pending before High Courts as of April 30 this year, with indictments already filed against the accused.

She said the NCPA was working with 47 Police Child and Women Protection Bureaus under the Police Children and Women Abuse Prevention Division to expedite the hearing and conclusion of these cases.

The Minister said measures were also being taken to protect child victims during legal proceedings by introducing a system to record their evidence through video in a safe and child-friendly environment, thereby reducing the need for them to appear in court.

She said discussions were underway with the Ministries of Health and Mass Media and other relevant institutions to establish nine provincial video evidence recording units.

by Saman Indrajith ✍️

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CA dismisses  writ petition seeking postponement of A/L exam

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The Court of Appeal yesterday dismissed a writ petition seeking to postpone the 2026 G.C.E. A/L Examination by two months.

The petition, filed by a group of students due to sit the examination for the first and second time, sought an order delaying the examination, which is scheduled to commence next month.

The Court announced its decision after considering submissions made in support of the application and declined to grant leave to proceed with the petition.

As a result, the 2026 G.C.E. Advanced Level Examination will be held as scheduled in August.

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Bimal’s remarks on MP’s conduct spark heated exchange in Parliament

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Leader of the House and Minister Bimal Rathnayake yesterday criticised the conduct of MP Archchuna Ramanathan in Parliament, describing the behaviour of certain lawmakers as “uncivilised, disgraceful and indecent”, while a heated exchange followed between government and opposition members.

Rathnayake made the remarks when Ramanathan attempted to raise a point of order during parliamentary proceedings.

“This parliament has one or two members who behave in a very uncivilised, disgraceful manner. We tolerate them because one of them is mentally ill,” Rathnayake said.

He alleged that Ramanathan had insulted even members of the Tamil community.

“The things he says may not be heard through the microphone, but the four walls of this Parliament are witnesses,” Rathnayake said, adding that Ramanathan’s conduct was not limited to Parliament.

He claimed that the Jaffna District Coordinating Committee meeting could not be held due to Ramanathan’s behaviour and said MP Gajendrakumar Ponnambalam had written to the Speaker stating that he could not sit near him.

The Speaker intervened during the exchange, warning Ramanathan not to behave in a manner that would turn Parliament into “a joke”. He also said the MP had previously addressed him in an insulting manner.

Opposition Leader Sajith Premadasa criticised the manner in which Rathnayake and the Speaker had addressed the matter, saying MPs should not be spoken to improperly and urging members to follow parliamentary Standing Orders.

Ramanathan, responding to the remarks, said: “I may be a psycho, but I am not a homosexual.”

by Saman Indrajith ✍️

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