News
SL hopes for productive talks at IMF WB spring meetings
Sri Lanka is looking forward to making progress in ending the ongoing debt restructuring negotiations at the IMF and the World Bank’s spring meetings, scheduled to begin from Monday, in Washington, PTI has reported.
Shehan Semasinghe, the State Minister for fFnance, will lead the government delegation, along with Central Bank Governor Nandalal Weerasinghe, and Treasury Secretary Mahinda Siriwardena.
“Through partnership and collective efforts, Sri Lanka would be able to achieve enhanced growth,” Semasinghe said, adding that the talks would be important in securing the next tranche of the USD 2.9 billion International Monetary Fund bailout.
Semasinghe said the funds would benefit low-income families with the extended relief programme ‘Aswesuma’.
Over 182,000 such families will be credited their cash handouts by the end of this week.
Sri Lanka aimed to strike debt restructuring deals with private creditors and sovereign bondholders by June to meet the IMF bailout programme targets.
“We expect fruitful engagements that will pave the way for unlocking the next tranche of essential funding and a speedy debt resolution which will enhance economic stability, confidence, sustainable growth, restore debt sustainability and ultimately, improve the welfare of every Sri Lankan citizen,” Semasinghe said in a post on X.
The IMF and World Bank meetings will take place in the background of both the World Bank and the ADB warned last week that detailing all hard economic reforms in the election year could hamper the recovery.
It’s been two years since Sri Lanka declared its first-ever default on sovereign debt. The negotiations for debt restructuring continue.
Sri Lanka goes for a presidential election in the last quarter of this year, while the parliamentary election is due mid-next year, PTI has said.
However, political uncertainty prevails in the country as opposition parties have pledged to reverse the current IMF-linked reforms, which have proved unpopular with the masses.
President Ranil Wickremesinghe, who has steered the recovery programme by going into a bailout deal with the IMF for a USD 2.9 billion facility, maintains that the island could once again face economic collapse if the IMF programme reforms are not adhered to.
The official appointment letters for the members of the newly established “Cricket Transformation Committee” (CTC) were handed over on Monday (04) by the Minister of Youth Affairs and Sports, Sunil Kumara Gamage.
The following members received their letters of appointment at the Ministry premises:
Sidath Wettimuny
Thushira Radella
Prakash Schaffter
Ms. Avanthi Colombage
The Ministry also noted that veteran cricketers Roshan Mahanama and Kumar Sangakkara, who are key members of the committee, are currently overseas. Their official appointments will be formalised immediately upon their arrival in Sri Lanka.
The Cricket Transformation Committee has been mandated to oversee the administration and drive structural reforms within Sri Lanka Cricket (SLC) in accordance with the powers vested in the Minister under the Sports Act No. 25 of 1973.
Three prison guards attached to the Welikada Prison have been arrested by Borella Police following the death of an inmate on Monday (04).
‘Bar Association must reveal its stand’
Civil society group ‘Free Lawyers’ has requested Chief Justice Preethi Padman Surasena to probe whether political pressure was brought on a Magistrate, or a High Court Judge, in respect of an ongoing high profile case.
Speaking to The Island on behalf of ‘Free Lawyers,’ Rajith Keerthi Tennakoon said that they felt the urgent need to seek the CJ’s intervention, following the May Day declaration by President Anura Kumara Dissanayake that the verdict of a case that was heard on 30 April would be given on 25 May. Tennakoon said that addressing the NPP’s main May Day rally at Maharagama, the President asked the people to be ready to celebrate that verdict. The President couldn’t have said so if he hadn’t been aware of the impending verdict, Tennakoon said, while emphasising the responsibility on the part of the Bar Association to state its position on the issue.
‘Free Lawyers’ recently captured pubic attention following its exposure of the theft of USD 2.5 mn from the Treasury.
Responding to a query, Tennakoon said that on behalf of ‘Free Lawyers,’ Maithri Gunaratne, PC, on Monday, 4 April, wrote to both CJ Surasena and President of the Bar Association Rajeev Amarasuriya.
Alleging that President Dissanayake’s declaration caused immense harm to the independence of the judiciary and raised controversy over the judgement that would be given on 25 May, ‘Free Lawyers’ organisation also asked the CJ to inquire into whether the entire judicial process was under political pressure.
Tennakoon said that they expect the Bar Association to reveal its position on President Dissanayake’s statement. Tennakoon pointed out that during the May Day address, President Dissanayake made reference to 15 cases that were to be taken up during this month, whereas Transport, Highways and Urban Development Minister, as well as Leader of the House Bimal Rathnayake, mentioned nearly 10 names of politicians, both sitting and former lawmakers, to be summoned beginning, May.
Tennakoon said that the NPP appeared to have used May Day to counter growing accusations over the Colombo port container controversy, coal scam, Rs 13.2 bn NDB fraud and theft of USD 2.5 mn from the Treasury and USD 625,000 from the Sri Lanka Postal Service.
By Shamindra Ferdinando
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