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Withdrawing from the IMF agreement would jeopardize the trust in Sri Lanka’s economy – President
President Ranil Wickremesinghe extended an invitation to all political party leaders in the Parliament to engage in discussions with the Managing Director of the International Monetary Fund (IMF) on the implementation of the agreement with the IMF.
Emphasizing the importance of unity in leading the country to success, he reiterated that withdrawing from the agreement would jeopardize the trust in Sri Lanka’s economy. The President stressed that the nation’s economy suffered due to the politics of promises, emphasizing the need for all political parties to formulate comprehensive plans for the country’s development when gearing up for an election.
President Ranil Wickremesinghe made these remarks during the International Customs Day celebrations at the Colombo Customs Headquarters this morning (26).
The President expressed gratitude to all members of the Customs Department for their contributions to the customs revenue in 2023. Highlighting customs tax, VAT and income tax as the three primary sources of income globally, the President stressed the importance of enhancing the efficiency of the customs service to boost the country’s revenue. He further noted that upcoming government legislation and modernization initiatives will overhaul all public revenue-generating institutions.
President Ranil Wickremesinghe delivered six Certificates of Merit to customs officials for rendering exceptional services to the International Customs. The Director General of Sri Lanka Customs, Sarath Nonis, presented the Strategic Plan for 2024 to President Wickremesinghe and State Minister for Finance, Ranjith Siyambalapitiya.
Additionally, a memento was presented to the President by the Director General of Sri Lanka Customs.
President Ranil Wickremesinghe, offering additional remarks, stated:
“The Customs Department holds a significant historical position, being considered one of the oldest government departments in Sri Lanka. Historical records indicate that customs taxes were collected around 2000 years ago at the ancient port of Manthai. From the Anuradhapura era, through the Kotte era and into the Kandy era, customs revenue has played a pivotal role in the nation’s existence.
I express my gratitude to the Customs Department for their contribution in helping us overcome the economic crisis faced in 2022. Customs duties, VAT and income taxes stand as the three primary sources of income for nations globally. In the contemporary landscape of international trade agreements, regional trade agreements and free trade agreements, our focus should be on enhancing income. To achieve this, the current customs services need to operate with efficiency.
While we are unable to allocate additional staff to your department, your commendable performance highlights the potential for substantial revenue improvement. There is a considerable journey ahead, and the government is firmly committed to the comprehensive modernization of customs and other revenue departments, which includes the imminent introduction of new legislation.
This initiative is a crucial component of the measures undertaken to steer the country out of the economic crisis. The decisions made in 2023 have paved the way for recovery from the economic downturn of 2022, although the journey is on-going. By the end of this year, our aim is to elevate the country’s income to 12% of the GDP. By 2026, we target a further increase to 15%.
To achieve this, income must be generated from the existing economy, necessitating economic development. The pressing question today is how to facilitate this economic growth. The out-dated economic system is incapable of propelling the country forward. The reliance on daily loans led to the collapse of the country’s economy. It is imperative to overhaul this economic system for sustainable progress.
We are still grappling with challenging times. In 2021, we faced shortages of essential goods, including medicine, fertilizer and fuel. Today, these necessities are available, with associated costs. The Cost of living is still felt by everyone. Economic development is crucial to alleviating these issues. While it is a wish that the economic damage of 2022 could be swiftly undone, the reality is that we need to transition to a new economy.
To stimulate economic growth, we must focus on a competitive market, bolster exports, and increase foreign exchange reserves. An agreement with Thailand is set to be signed on February 3rd, marking an opportunity for collaboration. While Thailand shares a Theravada Buddhist heritage with Sri Lanka, our respective economic paths have diverged, leading to discernible differences today.
Our actions today shape the future economy of our country. It necessitates thoughtful consideration and discussion. Political parties should engage in meaningful dialogue, especially when preparing for elections, understanding the intricacies of addressing the country’s challenges.
It is imperative to carefully consider the future trajectory of our nation’s economy through open discussions. Political parties should engage in thorough deliberations, articulating strategic steps to address the challenges facing our country. Achieving solutions demands thoughtful discourse and a united commitment to charting a realistic economic path forward. Our emphasis should be on comprehensive discussions, steering away from impractical endeavours—symbolized by the metaphorical notion of bringing rice from the moon. Continuous evaluation and, when needed, adaptation of existing programs should be integral to our on-going conversation and collective dedication to progress.
Our country has recently entered into an agreement with the International Monetary Fund, a pact signed by numerous countries, including 15-20 others. It is an agreement we cannot simply walk away from, necessitating collective discussion and consideration. However, the unfortunate reality is that our political landscape often resembles the fleeting nature of “papadam” —put in the pan, enjoyed when it blooms, and soon forgotten. The cycle repeats, with new issues emerging, gaining momentary attention, and eventually fading into oblivion.
We raised concerns on social media, vehemently opposing certain drafts, only to witness them become law despite public outcry. The Anti-Terrorism Act is now looming on the horizon, met with similar protests, yet risks being consigned to collective amnesia. Similarly, the introduction of the TRC Act sparked fears about the demise of free education, but these worries, too, eventually dissipated. This cyclical nature of political discourse has contributed to the challenges our country currently faces, a reality we must not lose sight of.
We must have the strength to transcend our current predicament, recognizing that this decision impacts not only our own future but also that of our children. Hence, I urge all political party leaders in parliament to engage in discussions regarding our stance on the agreement with the IMF and whether any amendments are deemed necessary.
Following these discussions, I am willing to extend an invitation to the Managing Director of the IMF to participate in a collective dialogue here. Let us collaboratively explore different perspectives and propose modifications if deemed beneficial. While the amendment process is open for consideration, it is imperative to acknowledge the existing agreement and work towards its implementation.
(PMD)
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Brutal heat cancels Fourth of July events, from DC to Philadelphia
Extreme heat has disrupted Fourth of July celebrations across parts of the US, including the cancellation of a parade in Washington DC.
The Great American State Fair in the nation’s capital – marking the country’s 250th birthday – was also temporarily shut after multiple people were treated for heat-related illnesses.
More than 165 million people were sweltering on Friday under record temperatures along the US East Coast and Midwest, according to the US National Weather Service.
The heatwave is disrupting the holiday weekend as US President Donald Trump hosts a celebration marking America’s 250th birthday, while multiple World Cup matches take place outdoors.
The 4 July holiday is traditionally characterised by lots of outdoors activities – barbecues, community parades and fireworks at night.
But multiple events commemorating the US holiday – and the country’s 250th birthday – were cancelled due to the blistering heat, from New Jersey, Pennsylvania and Maryland to as far west as Colorado.
Among the cancelled events on Friday was Philadelphia’s Salute to Independence Semiquincentennial Parade, which was tipped to be one of the biggest events across the US.
“As much as this decision pains everyone inside our organisation, we simply cannot host an event of this size and scale under these dangerous heat conditions,” Michael DelBene, the CEO of parade organiser Wawa Welcome America, said in a statement to the BBC.

In Washington, an Independence Day morning was cancelled “after extensive and careful consideration of the safety of our participants, spectators and staff as the top priority”, organisers said.
The intense heat also led to the closure of the fair on the National Mall for several hours on Friday, one day before the holiday. The State Fair reopened at 17:00 local time (21:00 GMT) after conditions improved, organiser Freedom 250 said.
“The safety and wellbeing of our guests, volunteers, performers, vendors and staff is our highest priority,” it said.
The DC Fire and EMS Department treated several people for “heat-related illnesses” at the fair on Friday, a spokesperson for the department told the BBC. He said these were caused by “record-breaking temperatures” at the event.
At least 11 people were taken by ambulance from the fair, the spokesperson said, but did not elaborate on whether all had heat-related illnesses.
“It is going to be a very busy weekend,” a spokesperson for the DC Fire and EMS Department told the Washington Post.
“We know that there are going to be heat-related illnesses on and off the Mall, and we encourage our residents and visitors to take precautions if you’re going to be out in the heat.”
Robin Ardito, who attended the fair, said she saw a middle-aged woman who appeared to be suffering from a heat-related illness. The woman was being tended to by fair staff with both hands in buckets of ice, she said.
“It was too hot to be holding an event like this,” Ardito added.
Another event in Washington DC was affected when US Capitol Police delayed public entry for Friday evening’s outdoor A Capitol Fourth concert from 15:00 to 19:00 local time.
Trump is expected to speak outside at a 4 July celebration on Saturday, despite the predicted high temperatures. The president has maintained that he wanted to gather outside for the celebration.
“I’m gonna make a really long speech just to show that I can do anything,” he said.
The extreme heat was expected to continue through the weekend as the hottest spell of the year so far sends temperatures soaring to levels not seen, in some areas, in decades.
It follows an unprecedented spell of early summer heat across Europe, with record highs across the continent.
Searing heat and high humidity is not unusual across North America, but the widespread nature of this event, across central and eastern areas on Friday and then the east for the weekend, sets it apart as potentially dangerous.
Philadelphia and Washington DC are expected to reach 104F (40C) and 103F with the humidity making it feel like 112F and 111F, respectively, approaching their all-time record highs, according to the NWS.


[BBC]
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Arias sends Colombia into World Cup last-16 with 1-0 win over Ghana
Jhon Arias scored the only goal as Colombia beat Ghana 1-0 in sweltering conditions in Kansas City on Friday to reach the World Cup round of 16, continuing a quietly impressive campaign that has established them as dangerous outsiders.
Arias struck in the 14th minute, guiding home a cross from substitute Luis Suarez, and Colombia’s disciplined defence did the rest as Nestor Lorenzo’s side extended their unbeaten run and booked a meeting with Switzerland in the next round.
Colombia had largely flown under the radar at the tournament, despite going undefeated against Portugal, Uzbekistan and DR Congo to top Group K.

Their breakthrough on Friday came from two players who had not been expected to combine, as Suarez, thrust into action after Jhon Cordoba was forced off with an apparent groin injury in the eighth minute, delivered a pinpoint cross to the back post where Arias had somehow drifted unmarked.
With time and space to pick his spot, Arias calmly guided the ball into the bottom corner to hand his side a deserved lead.
The stadium felt more like Barranquilla than Kansas City as tens of thousands of Colombia supporters turned the clash with Ghana – a team ranked 60 places behind them – into a de facto home game, giving the South Americans a level of support rarely seen so far from home.

The stands were a writhing, dancing sea of yellow jerseys, twirling scarves and black-and-white sombrero vueltiao hats, that many used to fan their faces in the oppressive 30-degree Celsius (86-degree Fahrenheit) heat.
They bounced in unison, roared their team forward with every attack, and regularly broke into chants of “Vamos Colombia! Esta noche tenemos que ganar!” (Spanish for ‘Let’s go Colombia, tonight we have to win!’).
They need not have worried. Colombia were the better team by some distance.
Luis Diaz had numerous scoring chances. He fired into the side netting in the first half, then celebrated what he thought was the game’s second goal early in the second half when he slotted home Arias’s cross, but it was disallowed for offside.
Lorenzo’s men continued to push for a second goal, and Ghana goalkeeper Lawrence Ati-Zigi, who was excellent all night, made one terrific save after another in the dying minutes as Colombia’s fans cheered every one of their team’s touches of the ball.

Antoine Semenyo was Ghana’s biggest attacking threat, yet Colombia’s disciplined defence denied him a clear sight of goal.
Colombia became the fourth South American team to reach the last 16, joining surprise package Paraguay, who stunned Germany, along with Brazil and Argentina, both of whom survived scares of their own.
Colombia – whose best finish was reaching the quarterfinals in 2014 – play the Swiss on Tuesday in Vancouver.
[Aljazeera]
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Messi scores again but Argentina given World Cup upset fright by Cape Verde
Reigning champions Argentina needed an extra-time own goal to overcome a Cape Verde side with incredible levels of resilience 3-2 in a thrilling contest and secure their spot in the last 16 of the World Cup.
The Africans, playing in their first World Cup, had twice come from a goal down on Friday to silence the vast majority of the crowd of 64,478 packed into a hot and humid Miami Stadium.
Six minutes into the second period of extra time, Lionel Messi swung a corner into the box, and Cristian Romero rose to head home off the arm of Cape Verde centre-back Diney Borges and finally set up a date with Egypt in Atlanta next Tuesday.
Messi had, almost inevitably, given Argentina the lead in the 29th minute with his seventh goal of the tournament, but Deroy Duarte equalised just before the hour mark.
The Blue Sharks held on to send the match into an additional half hour before Lisandro Martinez lashed a sumptuous shot into the roof of the net in the second minute of the first period of extra time to put Argentina ahead again.
Cape Verde were not done yet, however, and left back Sidny Lopes Cabral curled a beautiful shot into the top corner of the net in the 103rd minute of the contest to put the scores back on level terms at 2-2.
Lopes Cabral could have equalised again after Romero’s goal, but his finely struck free kick was saved by Argentina goalkeeper Emiliano Martinez, who had to be at his best to deny Cape Verde in the dying minutes.
Cape Verde were beaten but far from outclassed by the three-times world champions as they put in a fourth magnificent display of teamwork and grit at their first World Cup.
The only one of the four World Cup debutants to make it to the last 32 and ranked 67th in the world coming into the tournament, Cape Verde had hoped to frustrate Argentina as they did Spain, Uruguay and Saudi Arabia in group-stage draws.
They succeeded, while showing no shortage of quality of their own, for much of the game with a never-say-die desperation and a neat pass-and-move game.

Messi aside, Argentina were largely bereft of ideas against an obdurate defence and Cape Verde libero Kevin Pina was the most impressive player on the park for long periods of the contest.
It was Argentina who made the breakthrough in the 29th minute, however, when Lisandro Martinez lofted a long ball over the top of the defence to the feet of Messi.
The 39-year-old maestro took a touch with the outside of his left boot and buried it in the roof of Vozinha’s net for his 20th goal over six editions of football’s global showpiece.
Cape Verde knew they would need to score to keep their World Cup campaign alive and Duarte fired a shot at goal soon after half-time that drew a diving save out of Martinez.
Just before the hour mark, captain Ryan Mendes was freed down the right, and his pass into the box found the Dutch-born midfielder, who controlled the ball with his left foot before drilling it past Martinez with his right.
Messi had a chance to put Argentina back in front four minutes later when he was played through on goal, but Vozinha stood up well to keep his shot out of the net.
One of Messi’s trademark free kicks was tipped away by Vozinha in the 72nd minute, and Cape Verde defender Pico Lopes had to intervene to prevent Enzo Fernandez from scoring 10 minutes later.
Cape Verde held on to force the dramatic period of extra time, and they will now return home heroes having put their tiny island-nation firmly on the footballing map.
(Aljazeera)
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