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India greatly sensitive to needs of Lanka – PM Modi

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India has been greatly sensitive to the needs of its valued neighbour, Sri Lanka, during their tough times, Indian Prime Minister Narendra Modi said.

In an exclusive interview with PTI late last week, the PM said the Global Sovereign Debt Roundtable, a joint initiative of the IMF, World Bank and the G20 Presidency was launched earlier this year to accelerate global debt restructuring efforts.

“This will strengthen communication among key stakeholders and facilitate effective debt treatment,” he added.

The debt crisis is a matter of great concern for the world, especially developing countries, Prime Minister Modi has said, as India looks at building consensus at the upcoming G20 summit to evolve a tangible framework to help the debt-ridden low-income economies.

According to PTI, Modi said India’s G20 presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South.

“The debt crisis is indeed a matter of great concern for the world, especially developing countries. Citizens from different countries are keenly following the decisions being taken by governments in this regard. There are some appreciable results, too,” Modi said.

“First, countries that are going through debt crisis or have gone through it, have begun to give greater importance to financial discipline,” Modi said.

“Second, others who have seen some countries facing tough times due to the debt crisis are conscious of avoiding the same missteps,” Modi said.

Under its G20 presidency, India has been consistently highlighting the need for a framework on debt restructuring to help countries facing mounting debt problems.

China, considered to be the world’s largest sovereign creditor, has been showing reluctance to certain proposals on debt restructuring although an increasing number of G20 member countries are pitching for helping the low-income nations deal with the crisis.

According to estimates, over 70 low-income countries are reeling under a collective debt burden of USD 326 billion.

“The G20 fnc= ministers and Central Bank Governors have acknowledged the good progress in debt treatment of common framework countries and beyond the common framework too,” Modi said.

Modi hoped that raising awareness among the people of different countries on the problem would ensure that such situations don’t recur often.

“While a lot is being done to address these issues, as I said earlier, I am positive that rising awareness among the people of different countries will ensure that such situations don’t recur often,” he said.

In July, IMF Chief Kristalina Georgieva pitched for a speedier debt restructuring process for vulnerable countries.

India is hosting the G20 summit on September 9 and 10 in its capacity as the current chair of the grouping.

The G20 member countries represent around 85 percent of the global GDP, over 75 percent of the global trade, and about two-thirds of the world population.

The grouping comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea,



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Buddhist hierarchy demands prison perks for monk convicts

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MONETABRIEF– Sri Lanka’s two most senior Buddhist chapters, Malwatte and Asgiriya, demanded special concessions for monks serving prison sentences, following the disrobing of convicted monk Ven. Galagodaatte Gnanasara in line with established procedures.

The chief prelate of the Asgiriya chapter, Most Venerable Warakagoda Sri Gnanarathana, told Prisons Commissioner Senaka Palletenna that Ven. Gnanasara, who is serving a six-year sentence for contempt of court, must be released immediately.

Prison authorities have no power to release or pardon convicts, but Palletenna told the monk in Kandy on Friday that he would convey his request to the relevant government authorities.

“There is no point in talking about this and that… The entire country has been shaken (??????? ) . He must be released,” the Asgiriya chief prelate said.

The Malwatte chief prelate, Most Venerable Thibbatuwawe Sri Siddhartha Sumangala, appeared to accept the court verdict against Ven. Gnanasara, but asked the prisons chief whether a separate section could be established for convicted monks.

Palletenna noted that a special ward for the clergy already existed at Welikada Prison.

At least 63 convicted Buddhist monks are currently incarcerated within Sri Lanka’s criminal justice system.

Meanwhile, a group of 34 Buddhist monks named in a Colombo Fort Magistrate’s Court order to vacate the vicinity of the Presidential Secretariat ended their protest and dispersed after lunch on Friday.The monks are demanding an unconditional pardon for Ven. Gnanasara, who has previously been imprisoned, making him a reconvicted prisoner.

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Debate on NCM against Speaker postponed indefinitely

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The debate on the no-confidence motion against Speaker Dr. Jagath Wickramaratne, submitted by the Samagi Jana Balawegaya (SJB), has been postponed indefinitely pending the Attorney General’s opinion on certain technical issues in the motion.

Government representatives raised the matter at a meeting of the Committee on Parliamentary Business, pointing out that several provisions of the motion required clarification and that the Attorney General’s advice should be obtained.

As obtaining the opinion would take time, the debate could not be scheduled for the next parliamentary week, parliamentary sources said.

Chief Opposition Whip Gayantha Karunatilaka said a date for the debate would be decided after the Attorney General’s advice was received.

Meanwhile, Parliament is scheduled to meet from October 20 to 23, Secretary General of Parliament Kushani Rohanadeera announced.

The parliamentary business for the week was finalised at a meeting of the Committee on Parliamentary Business held on Friday (16) under the chairmanship of Deputy Speaker Dr. Rizvie Salih.

On each sitting day, the period from 9.30 a.m. to 10 a.m. will be allocated for parliamentary business under Items 1 to 6 of Standing Order 22. Questions for Oral Answers will be taken up from 10 a.m. to 11 a.m., followed by questions under Standing Order 27(2) from 11 a.m. to 11.30 a.m.

On Tuesday, October 20, an Opposition-sponsored Adjournment Motion will be debated from 11.30 a.m. to 5.30 p.m.

On Wednesday, October 21, a resolution under the Public Debt Management Act and a Supplementary Estimate will be taken up for debate and approval from 11.30 a.m. to 5 p.m. The annual reports of five statutory institutions will subsequently be presented for approval without debate, while questions at the Adjournment Time will be taken up from 5 p.m. to 5.30 p.m.

On Thursday, October 22, the Second Reading debates on two Bills to amend the Poisons, Opium and Dangerous Drugs Ordinance (Bills Nos. 79 and 80) will be held from 11.30 a.m. to 5 p.m.

The annual reports of five statutory institutions will then be taken up for approval without debate, followed by an Opposition-sponsored Adjournment Motion from 5 p.m. to 5.30 p.m.

On Friday, October 23, the Second Reading debate on the Elimination of Rabies and Registration of Dogs Bill will be held from 11.30 a.m. to 5 p.m. A Government-sponsored Adjournment Motion will be debated during the final half-hour of the sitting.

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Karannagoda pushed for £24,536 for Yoshitha’s UK training, Court told

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Former Navy Commander Admiral Wasantha Karannagoda had, by letter dated May 19, 2014, requested the Secretary to the Ministry of Defence to approve the funds required for former Navy Lieutenant Yoshitha Rajapaksa, son of former President Mahinda Rajapaksa, to attend the Royal Navy Young Officers Course at the Royal Navy Training College in the United Kingdom, the Colombo High Court was told on Thursday (15).

The court was informed that £24,536 in public funds had been spent on the training programme. The details emerged during testimony by a Navy representative appearing on behalf of former Navy Commander Admiral Travis Sinniah before Colombo High Court Judge Udesh Ranatunga, when the money laundering case against Rajapaksa was taken up for hearing.

Responding to questions during cross-examination, the witness explained that payments for Navy officers attending overseas training programmes were generally made in foreign currencies, including US dollars and British pounds.

Meanwhile, Navy Captain Nuwan Thushara Arangala, testifying for the prosecution, told court that Rajapaksa had received a total of Rs. 5,159,626.37 in salaries and allowances during his nine years of service in the Navy.

The court was informed that Rajapaksa had served as a Navy Lieutenant from December 14, 2006, to February 28, 2017, although his service had been suspended on February 28, 2016.

According to the testimony, his monthly gross salary was Rs. 16,390, in addition to allowances for food, uniforms, housing and special duties.

The witness clarified that these allowances did not include payments made for overseas training programmes or participation in sporting events while representing the Navy.

During the proceedings, the prosecution also submitted Rajapaksa’s annual declarations of assets and liabilities for the period from 2009 to 2015.

A National Savings Bank official also testified regarding savings accounts and fixed deposits maintained by Rajapaksa, stating that no withdrawals had been made from the accounts since they were opened.

Rajapaksa is facing charges under the Prevention of Money Laundering Act over his alleged failure to explain the source of nearly Rs. 735 million acquired between August 1, 2012, and August 29, 2013, in Rajagiriya and Bambalapitiya.

The prosecution alleges that funds suspected to have been derived from unlawful activities were deposited in bank accounts and fixed deposits.

The court also heard testimony concerning the appointment of a guardian for Daisy Forrest, the second defendant in the case, and matters relating to the clearance of an imported outside broadcasting (OB) truck associated with CSN television.

Further examination of witnesses was scheduled for October 30, with the court directing 11 prosecution witnesses to appear on that date.

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