News
CBSL expects official reserves to be above USD 3 billion by 31 Dec.
The Central Bank of Sri Lanka yesterday said that they have taken measures to ensure that official reserves will remain above US dollars 3 billion by end of 2021. CBSL added that despite the headwinds of the economic impact of COVID-19 and challenges posed by adverse developments in the external sector, the Sri Lankan economy showed resilience throughout 2021.
The country has also successfully met its debt obligations by repaying foreign loans, including the payments of the International Sovereign Bonds, ,” CBSL said in a press release.
Given below are excerpts of the press release: “Since the beginning of the year both the Central Bank and the Government have been actively pursuing possible avenues to replenish official reserves, with an emphasis on encouraging non-debt flows, so that the existing foreign debt could be managed in a sustainable manner. These efforts were accelerated since October 2021 with the announcement of the Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability, which set out envisaged targets for build up of official reserves in the near term.
“As articulated in the Six-Month Road Map, number of foreign exchange inflows are envisaged in the very near term. Major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to about US dollars 2.0 billion. The Government is also in the process of securing Government to Government financing, syndicated loans as well as loans from multilateral organisations. In addition, the expected foreign exchange facilities that were negotiated during the high-level visits abroad made by authorities are also progressing well. Further, the interventions made by the Central Bank on several facets of the foreign exchange market, such as incentive scheme introduced for workers’ remittances, and the repatriation and conversion requirements on account of exports proceeds will improve the liquidity in the domestic market, thereby enabling the Central Bank to build up official reserves further. With the recent rise in departures for foreign employment and exponential growth observed in tourist arrivals, the external sector is expected to recover well in the period ahead and the pressures observed at present are expected to moderate with increased inflows to the economy. The Government and the Central Bank remain confident that these expected inflows will materialise and the reserve position will remain at comfortable level throughout the year 2022.”
News
“We cannot allow flooding to become a part of the daily lives of the people in the Colombo District” – PM
Prime Minister Dr. Harini Amarasuriya stated that unauthorized constructions within the Colombo District, nor any form of residential developments that endanger the public carried out under the guise of development agenda will not be allowed.
The Prime Minister made these remarks while addressing the media at the conclusion of the Colombo District Disaster Management Committee meeting held on Tuesday [December 09] at the Colombo District Secretariat.
Addressing further, the Prime Minister stated:
“The Colombo District has become vulnerable to this extent due to the constructions carried out without any proper planning or understanding of regulations, along with personal and politically motivated decisions that have placed both the district and its people at risk.
Compared to the districts that suffered severe loss of life and property due to the recent cyclone, the damage to the Colombo District has been relatively lower. However, special intervention is being carried out together with the relevant institutions to manage the potential future flood risks in the district.
This matter was also given special attention during today’s District Disaster Management Committee meeting. We cannot allow the flooding to become a regular part of the lives of the people in Colombo. All relevant institutions will come together to put forward a common plan for flood control in the district.”
The Prime Minister further stated that discussions are already underway to provide sustainable solutions for the people living in high-risk areas within the Colombo District.
The discussion was attended by the Deputy Minister of Urban Development Eranga Gunasekara, Deputy Minister of Mass Media Kaushalya Ariyaratne, and Colombo District Members of Parliament Aruna Panagoda and Chandana Suriyarachchi.
[Prime Minister’s Media Division]
The handover of 35 tonnes of Russian Humanitarian Aid to Sri Lanka, recently affected by the cyclone «Ditwah», took place at Katunayake today (10th December)
The shipment was welcomed at the Katunayake airport by Ambassador of Russia Levan Dzhagaryan, Minister of Ports and Civil Aviation Anura Karunathilaka and Deputy Minister of Defence, Major General Aruna Jayasekara (Retd).
Ambassador Levan Dzhagaryan: said “This delivery is a reflection of long-term friendly relations between Russia and Sri Lanka and reaffirms Moscow’s commitment to support countries in a difficult humanitarian situation.”
The supplies brought by the EMERCOM (Russian Ministry of Emergency Situations) aircraft comprised a movable 60 kW electric power station, Pumping equipment for water drainage, Summer tents (10-person capacity) and Food supplies (sugar, vegetable oil, rice)
The total cargo weight is 35 metric tonnes. The aid will be distributed among the most affected regions.
A meeting between the Secretary to the President, Dr. Nandika Sanath Kumanayake and the French Ambassador to Sri Lanka, Rémi Lambert, was held on Tuesday (09) afternoon at the Presidential Secretariat.
During the discussion, the French Ambassador assured the Secretary to the President that the French Development Agency would extend its support to the Government’s programme for providing relief to those affected by Cyclone Ditwah and for rebuilding Sri Lanka. He further stated that steps are being taken to dispatch a team of experts to the country in the near future.
The Deputy Head of Mission at the French Embassy, was also present on this occasion.
“We cannot allow flooding to become a part of the daily lives of the people in the Colombo District” – PM
Russia gifts 35 tonnes of Humanitarian Aid to Sri Lanka
Sri Lanka squad named for ACC Men’s U19 Asia Cup
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French Ambassador pledges support for relief efforts
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