News

RW says great power rivalries and geopolitics emerging threat to Third World

Published

2 years ago

2023/10/1

The West has labeled China’s Belt and Road Initiative as a cohesive program, and the participating countries like Sri Lanka are looked upon with suspicion, President Ranil Wickremesinghe said on Thursday (28) at the Berlin Global Conference.

“This will further hurt economic prospects in the global South, and the polarization will become more evident,” he said.

Great power rivalries and geopolitics have been an emerging threat for open access to trade, investment, capital, and technology that are vital for the economic recovery of the developing world, Wickremesinghe said.

He said that recently Jake Sullivan, United States national security advisor to President Joe Biden, rejected the Washington Consensus at an address at the Brookings Institute.

“With the new concept of de-risking and decoupling, the developing South, which was compelled to follow the Washington Consensus, is now asked to do a 180 degree turn even without consultation with us. With decoupling, whatever it is, we have been asked to change the system. We were compelled to get into it. Now we are told this is no longer relevant,” he said.

Wickremesinghe said the global south is now looking for alternative leadership, given the expansion of the BRICS and the downgrading of G20. In 2024, the US leadership might change and that people are wondering what policy changes would ensue.

“We know in 2024, the US leadership may not be there. Then who is going to act? So I think it’s a chance for the EU to come up and work with the other countries. There’s no one else. So I am suggesting that the EU, together with G20 BRICS, certainly USA, and some selected other Asian and African nations, the IMF and the NDBs, and you can bring in the big financial institutions, private ones, sit down and find urgent solutions,” he said.

The President said the world requires a constructive dialogue between the West and China.

“We need a constructive dialogue between the US and China. We need a constructive dialogue between the EU and China. Otherwise we will not move forward. So this is the stark reality. It’s a question of how we get together and how we work, and who’s going to take the lead in 2024,” he said.

Below are excerpts of the speech : “I don’t think in any other period of modern history have we gone through this type of a crisis. And in all these instances, it’s the developing economies and the global south that has suffered extremely. We are now faced with stubbornly high inflation in advanced economies, oil prices edging towards US $100 a barrel, and monetary tightening by the global central banks.

“One example is that Sri Lanka’s export to Europe has not increased at all this year, so far this year. That’s an indication of how we are being affected as we try to recover from the crisis we face. The confluences of factors face serious risk for many developing countries. In the global south, we are facing rising import costs, food, energy, insecurity, and the problems of our exports. The resulting balance of payment stress translates into a weaker economy for all of us. The difference between the advanced economies and the developing nations is that you all have all the buffers and reserves to deal with these shocks. We haven’t. And it’s from here that the sovereign debt crisis started.

“In this context, I think the world may be in another crisis if corrective measures are not taken immediately. Many developing countries find themselves with large debt burdens. For example, the IMF has no mechanism to face this new situation. When Sri Lanka declared bankruptcy, all foreign funding ceased and that started the political crisis. If not for the help given by the World Bank in re-graduating Sri Lanka, and the help given by my old friend Samantha Power in funding us with fertilizers, the chances are that I may not be, I would not be able to come here today.

“The funding on the table is woefully inadequate to address the vast challenges at hand. So we haven’t got any money. But we do have 100 billion with the IMF. Let’s start with that money. 100 billion is better than nothing. Then let’s see how we can raise the rest of it. Because though I talk of Sri Lanka, I must say Africa’s needs, especially of the low-income countries, are far greater than ours. The problems Africa faces need not be described by me because I think there are enough representatives here.

The developing countries require financing up to US 5.9 trillion to fulfil their nationally determined contributions. Then a further US 4 trillion, for clean energy technology to achieve net zero emissions, look at Sri Lanka’s financing needs for our climate prosperity plan to succeed. We need five billion US dollars by 2030.

“This is a country that’s bankrupt. And the IMF states, we’ll have for the next few years a growth rate of 3.5% if you are lucky. Here again, global coordination and leadership to resolve these challenges have simply not been sufficient to address the magnitude of the urgency of the problem. So what we need here is a new architecture.

Now we’ve been talking of the many crises and shocks we have discussed today. And we’ve been talking about what we have to do. First, we’ve all agreed that the core of the international financial architecture today was designed almost 80 years ago. The world has seen dramatic changes since then with many emerging economies in Asia, Middle East, South America, and Africa becoming global economic powerhouses.”

All News Advertisement

Up Next

Mullaitivu judge resigns citing death threats

Don't Miss

“No fixed timeline” to disburse 2nd tranche of $3 bln loan, IMF official says

Click to comment

News

House erupts over suspension of Deputy Secretary General

Published

11 hours ago

2026/02/4

Sahan Weerasooriya

Opposition and SJB Leader Sajith Premadasa yesterday raised concerns over the recent suspension of Parliament’s Deputy Secretary General and Chief of Staff, G.K.A. Chaminda Kumara Kularatne, alleging that the process appeared to be mala fide. Addressing Speaker Jagath Wickramaratne in Parliament, Premadasa said that the existence of a personal disagreement between the Speaker and the suspended official had created a potential conflict of interest.

Premadasa said disciplinary action against senior parliamentary officials had to be taken in keeping with established parliamentary precedents. He also questioned the legality and propriety of a lower-ranking official leading an inquiry against a senior officer.

“For the first time, we are witnessing a rift between the Speaker and the staff of the Secretary-General. All parties must step back, act democratically and ensure that the fundamental rights of Chaminda Kularatne are safeguarded,” he added.

ITAK Batticaloa District MP Shanakiyan Rasamanickam said Kularatne had not been given an opportunity to respond to the allegations made against him.

“This is a disgraceful situation. A complaint has been lodged against you with the Bribery Commission. Parliament is the supreme institution of democracy in this country, and the precedent being created here is dangerous,” Rasamanickam said, addressing the Speaker.

SJB Kandy District MP Chamindranee Kiriella said the Speaker was duty-bound to inform the House before disciplinary action was taken against a parliamentary official. SJB MP Ajith P. Perera said it was unethical for the Speaker to assume a leadership role in the inquiry, and called for the matter to be entrusted to an independent authority.

Responding on behalf of the Government, Chief Government Whip and Health and Mass Media Minister Dr Nalinda Jayatissa said the chief investigating officer, S.K. Liyanage, an Additional Secretary, had been appointed by the Staff Advisory Committee on 25 August, 2025. He said Liyanage had been selected from a pool of qualified officers at the Ministry of Public Administration and had prior experience in conducting investigations.

Leader of the House and Transport Minister Bimal Rathnayake said the Staff Advisory Committee had agreed on the respective powers of parliamentary officials, noting that the Secretary General would hold powers equivalent to those of Ministry Secretary, while the Deputy Secretary General would hold powers equivalent to those of an Additional Secretary.

“There is no irregularity in the conduct of the investigation or in the appointment of the investigating officers,” Rathnayake said.

On 24 January, 2026, Parliament announced the immediate suspension of Deputy Secretary General and Chief of Staff Chaminda Kularatne with effect from 23 January, citing concerns relating to his appointment. Kularatne had assumed duties on 15 September, 2023.

On Monday, Kularatne filed a complaint with the Commission to Investigate Allegations of Bribery or Corruption against Speaker Jagath Wickramaratne, alleging corruption. His legal counsel, Attorney-at-Law Mithun Dias, said the complaint had been filed against the Speaker in his personal capacity and not against the government.

However, Dr Jayatissa told the House that the investigation into Kularatne was based on concerns relating to his appointment, qualifications and the process by which he had been confirmed in that post and was not linked to any personal dispute with the Speaker.

By Saman Indrajith

News

78th Independence Day celebrations at Bogambara Stadium

Published

11 hours ago

2026/02/4

Sahan Weerasooriya

The 78th Independence Day celebrations in the Central Province are scheduled to be held today from 8:00 AM at the Bogambara Stadium, Kandy.

The celebrations are jointly organised by the Central Provincial Council and the Kandy District Secretariat. The Governor of the Central Province, Prof. S.B.S. Abeykoon, is expected to grace the occasion as the Chief Guest.

The event will also see the participation of Kandy District Members of Parliament, the Chief Secretary of the Central Province, Mr. Ajith Premathilake, as well as representatives from the Tri-Forces, Police, school students, and various voluntary organisations.

The ceremony will feature a formal parade and cultural performances by school children.

By S.K. Samaranayake

News

Colombo-Kandy railway line to be fully restored this year – Minister Bimal

Published

11 hours ago

2026/02/4

Sahan Weerasooriya

Minister of Transport, Highways, and Urban Development, Bimal Rathnayake, has announced that the reconstruction of the Colombo-Kandy railway line, which was severely damaged by landslides in the Balana and Kadugannawa areas, will be completed within this year to restore normal train services.

The Minister made this statement during the Kandy District Development Committee meeting held at the District Secretariat. He noted that work will commence following the observations and technical reports provided by the National Building Research Organisation (NBRO) regarding the stability of the landslide-affected areas.

Financial Management and Development

Minister Rathnayake emphasised that the government possesses the necessary funds for development projects.

“Our government has the funds. However, all officials must ensure these funds are managed efficiently so that they are fully utilised for development, without being returned to the Treasury at the end of the year,” he stressed.

Improvements in Public Transport

Highlighting the progress in the transport sector, the Minister shared several key updates

• Recruitment: 700 new employees have been recruited to the Sri Lanka Transport Board (SLTB) and are currently undergoing training.

• School Transport: Steps are being taken to strengthen the ‘Sisu Sariya’ school bus service within the Kandy District.

• Infrastructure: The reconstruction of the Peradeniya Black Bridge (Kalu Paalama), which was damaged during the ‘Ditwah’ disaster, is nearing completion.

Welfare facilities for Private Transport Workers

The Minister also revealed plans to support the welfare of private bus drivers and conductors.

“We must look after the workers in the private transport sector as well. We are planning to establish a welfare fund for them and are taking steps to include them in the Employees’ Provident Fund (EPF) system,” he added.

Concluding his remarks, the Minister urged state officials to perform their duties responsibly and ensure that the inefficiencies seen under previous administrations do not recur.

By S.K. Samaranayake