Connect with us

Editorial

A sad day

Published

on

Wednesday 13th April, 2022

Sri Lanka has had to suspend foreign debt payments for the first time. It is a sad day for every Sri Lankan. This measure has become unavoidable for two reasons. The country has to prevent a hard default; foreign debt payment due this year is reportedly about USD 4 billion including a USD 1 billion international sovereign bond maturing in July. It badly needs dollars for essential imports which are in short supply much to the consternation of the people, who have taken to the streets demanding relief and the ouster of the government. Political stability is essential for economic recovery, and vice versa. The country is thus in a catch-22 situation. It has come under a pall of political uncertainty, which has stood in the way of measures being adopted to save the economy. People’s economic hardships act as jet fuel for social unrest, which hinders economic recovery.

The need for debt restructuring cannot be overstated; but that task requires the consent of creditors, who will ask for a cast iron guarantee that their investments are safe and they will get returns thereon. It is doubtful whether the current political turmoil will help win their confidence.

It is hoped that when more forex is available for imports, and supplies are replenished, long queues will disappear—hopefully—making it possible for tension on the political front to be defused.

Newly appointed Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has assured that the drastic measure at issue is only temporary, and the country will reach an agreement with the creditors concerned. One can only hope that the government pundits will allow the three men—the CB Governor, new Finance Minister Ali Sabry and new Finance Ministry Secretary Mahinda Siriwardana—and their teams of experts do what they deem necessary to tackle the economic crisis.

Needless to say, political upheavals drive away foreign investors and tourists and cost the country a great deal of much-needed foreign exchange. They also affect national productivity, which is a prerequisite for economic development. Neither the protesters nor the government politicians are willing to soften their stands. Both sides remain intransigent, making the country’s economic recovery an uphill task.

Protesters want the entire government to resign, and the latter is apparently playing a waiting game—maybe on the advice of its astrologers including Gnanakka—in the hope that protests will fizzle out with the passage of time, and its leaders will be able to crawl out of the woodwork and do more of what they have been doing.

The government does not seem to have realised the gravity of the situation. Both President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa said very little in so many words when they addressed the nation. The PM did not say anything new on Monday; he only repeated himself, and was seen to be making an effort to justify his decision to stay put amidst calls for his resignation.

Prime Minister Rajapaksa should have apologised to the nation, on Monday, for having wasted billions of dollars on Ozymandian projects like the Hambantota Harbour, the Suriyawewa cricket stadium, the Mattala Airport and the Lotus Tower. All Rajapaksa governments have been characterised by rampant corruption, which has led to an increase in national debt. The PM should also have explained to the public why the current administration had not sought IMF assistance at the first signs of trouble, the way his government had done in 2009 to avert an economic disaster.

The CBSL says it warned of the present crisis a long time ago but the government did not heed its warning. The yahapalana government ignored a warning by a foreign intelligence service of the Easter Sunday attacks, and more than 270 lives were lost, as a result. The present administration’s refusal to take on board the CBSL’s advice has turned the country into a hellhole, as it were, for 22 million people who have been left without essentials.

The government is struggling for survival, and let Parliament be urged to initiate action to abolish the 20th Amendment and reduce the executive powers of the President so that an interim arrangement could be worked out to facilitate the country’s economic recovery.

We wish our readers a happy New Year!



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Editorial

The Old Fox and his clones

Published

on

The 120th birth anniversary of President J. R. Jayewardene (JRJ) was commemorated in Colombo on Thursday. The well-attended event, with a representative audience, brought the UNP and its offshoot, the SJB, together, with their leaders, former President Ranil Wickremesinghe and Opposition Leader Sajith Premadasa, respectively, stressing the need for their parties to unite and fight what they described as the JVP-led NPP government’s dictatorial rule. Ironically, about four decades ago the JVP itself used the same allegation in a bid to justify its violent campaign against the JRJ government.

JRJ or the Old Fox, as he was popularly known, achieved what many considered impossible; he rebuilt the UNP from a mere 17 seats, which it was reduced to in the 1970 general election, and steered it to a mammoth victory with a five-sixths majority just seven years later. He not only opened up Sri Lanka’s economy but also reoriented the country’s geopolitical alignment in a bipolar world. He was pejoratively dubbed “Yankee Dickie” because of his pro-American stance. His rule was a Dickensian paradox, characterised by both progress and decline. It ushered in economic growth and infrastructural development but upended Sri Lanka’s political culture, paving the way for the institutionalisation of corruption, abuse of power, political violence, electoral malpractice, and political interference with the judiciary on an unprecedented scale; the debilitation of state-owned enterprises, particularly the bus service, also began under the JRJ rule. The 1978 Constitution, which entrenched the executive presidential system, is one of the most enduring features of the JRJ’s political legacy.

On watching the commemoration of Yankee Dickie’s birth anniversary, one may have recalled an American Civil War marching song, ‘John Brown Body’. The missions of Brown and JRJ bear little resemblance to each other; the former is a rebel and martyred abolitionist and the latter is remembered mostly as a self-seeking, conservative political leader, but their causes continue to advance long after their deaths. So, on Thursday, one may have sung under one’s breath, parodying the John Brown song:

JRJ’s Constitution is strapped upon his back,His soul is marching on.

About half a century has elapsed since JRJ introduced the current Constitution to achieve his presidential dream. All his successors, except Ranasinghe Premadasa and Gotabaya Rajapaksa, contested presidential elections, promising to abolish the executive presidency and restore the Westminster system, but they have followed the Machiavellian maxim on promises and considered ‘the word broken is the necessity of the present’.

JRJ may be blamed for many wrongs, but it may be argued that he was less hypocritical than his successors. He made no bones about his autocratic disposition, and had the courage to stand up for what he believed in. He yearned for absolute power, and blatantly undermined the separation of powers and reduced the legislature to a mere appendage of the Executive. He also sought to keep the judiciary under his thumb, but with little success, thanks to some upright judges who had the courage to act without fear or favour. It was not without reason that he bragged that the only thing he could not do with his executive powers was to make a man a woman and vice versa. He brooked neither criticism nor dissent and bulldozed his way through. He did not scruple to amend the Constitution to advance his political agenda. All his successors have emulated him.

It may not be too cynical a view that the JVP should replace Rohana Wijeweera’s portrait at its Pelawatte office, if any, with that of JRJ, for its current policies are more closely aligned with JRJ’s capitalist ideology than its founder’s. The JVP-led NPP government is apparently pursuing open market policies more vigorously than its predecessors. Whoever would have thought that the JVP would ever embrace capitalist policies, much less pursue them with missionary zeal and capitulate to the Bretton Woods twins. The JVP’s 36-page Revolutionary Policy Declaration with Wijeweera’s imprimatur, ends with the Communist revolutionary slogan, Death to imperialism––Liberation to the People and Death to Capitalism––Victory to Socialism. But the present-day JVP leaders have embraced capitalism. They sought to kill JRJ for what they described as his capitulation to India. Today, they themselves stand accused of touching their forelocks to Indian leaders.

The SLFP also denounced JRJ’s economic policies vehemently while in the political wilderness, but unflinchingly adopted them after its return to power. So, the SLFP, too, should have JRJ’s portrait hung at its Darley Road office. The SLPP should also consider hanging a portrait of JRJ at its Nelum Mawatha office, for it also follows his policies.

The leaders of the JVP, the SLFP and the SLPP are no admirers of JRJ, but imitation is said to be the sincerest form of flattery. The Old Fox must be guffawing wherever he may be.

Continue Reading

Editorial

When the US blocks UN gates in NY

Published

on

Saturday 19th September, 2026

The US has refused to grant Palestinian President Mahmoud Abbas a visa to attend the UN General Assembly in New York next week, according to a BBC report. Washington claims that it has denied visas to Palestinian representatives, including Abbas, for their failure to live up to peace process commitments. Sanctions were initially imposed in August last year, when 80 Palestinian officials were denied visas for the annual UN meeting in New York, BBC report says.

The US has accused the Palestinian Authority and the Palestine Liberation Organisation of “glorifying terrorism” and attempting to “internationalise” the Israeli-Palestinian conflict. It is laughable that such concerns about peace have been raised by the US, which has made six major military interventions commonly known as wars since 1945, namely, Korean War (1950–53), Vietnam War (major US combat involvement, 1964–73), Gulf War (1990–91), Afghanistan War (2001–21), Iraq Invasion (2003–11), War against ISIS in Iraq and Syria (from 2014), Libya engagement and the ongoing Iran war.

Interestingly, the Trump administration has granted Iranian leaders visas to attend the UN summit. A State Department Spokesman is reported to have said that a core delegation from Iran will be allowed to attend the summit in line with the United States’ obligations as the UN host country. Iranian President Masoud Pezeshkian and Foreign Minister Abbas Araghchi are expected to be granted US visas.

Aren’t the US obligations as the UN host country applicable to Palestine? The Palestinian Foreign Ministry has called the visa sanctions “an unjustified measure that runs counter to efforts to rebuild trust, develop Palestinian-US relations, and create the necessary political climate for implementing the two-state solution and achieving peace and stability”. It has vehemently rejected the long-held accusations by the Trump government and Israel, noting that Palestine has a right to seek accountability against an occupying force under international law.

One may recall that the UN had to contend with a similar issue in 1988; over a statement concerning Yasser Arafat’s visa, the UN Legal Counsel stated that the 1947 UN-US Headquarters Agreement gives persons, covered by Section 11, an “unrestricted right” to enter the US for the purpose of UN proceedings. The US maintained that its law preserved its authority to exclude persons on national security grounds. The UN Legal Counsel responded that there was a difference of opinion between the UN and the US concerning the legal character and validity of that US security reservation.

The Headquarters Agreement has created a special treaty-based obligation concerning the entry and transit of accredited representatives of UN member states attending official UN business. It establishes the protection against impediments to transit, and its Section 13(a) specifically says immigration laws must not interfere with that protection and requires US visas, where necessary, to be issued promptly and free of charge. Section 12 of the Agreement specifically states that the US authorities must provide necessary protection to such persons while they are travelling to or from the UN Headquarters district, and this provision applies regardless of the relationship between the person’s government and the US. The Agreement however does not give UN representatives unrestricted freedom to visit other parts of the US unless such travel is for official UN meetings or official UN business.

There have been only half-hearted attempts to address the issue of access restrictions imposed by the US on some accredited representatives of UN member states, seeking to attend UN proceedings. It is time the UN stopped dilly-dallying and grasped the nettle. It should ensure that UN representatives attending the UN General Assembly and other official events of the world body are not left at the mercy of Washington. But who will bell the cat?

Continue Reading

Editorial

Battling congestion in urban centres

Published

on

The Colombo District Development Committee (CDDC), at a recent meeting chaired by Prime Minister Dr. Harini Amarasuriya, has stressed the need for a comprehensive public parking plan and proposed multi-storey parking structures to ease severe congestion, exacerbated by the proliferation of commercial establishments in areas, such as Nugegoda. The committee has also discussed the issue of congestion near schools in Colombo city. Parking facilities are vital to any traffic management plan, but they alone do not help tackle congestion, which mainly results from the way existing road space is used and the interaction among through traffic, local traffic, pedestrians, parking and public transport, as experts have pointed out.

Traffic congestion in urban centres continues to worsen as successive governments have failed to implement a holistic approach to tackling the problem. There have been only piecemeal solutions.

Traffic congestion is multifactorial, and several key causative factors that have been identified and solutions proposed by experts over the years. The World Bank has pointed out that the growth of private vehicle ownership is a principal cause of congestion in Colombo. Deficiencies in public transport are driving the public towards private transport. Buses and trains are unreliable, uncomfortable or poorly coordinated.

Major roads carry both through traffic as well as traffic whose destination is somewhere along them, creating unnecessary interaction between different types of vehicular movement. A World Bank assessment identifies the lack of orbital links and secondary roads as a weakness in Colombo’s road infrastructure. This holds true for other urban centres as well.

Too many intersections are another problem. At every junction, vehicles entering from side roads, particularly those turning right across the main traffic stream, interrupt through traffic. Closely spaced intersections can therefore turn an otherwise adequate road into a sequence of bottlenecks. This problem has been tackled in the Kalutara town to a considerable extent; an uninterrupted central route runs through the town, with parallel roads providing local access. Local turning and stopping movements are prevented from repeatedly disrupting through traffic. There is a need to redesign junctions, coordinate signals, improve lane discipline and use modern traffic-management systems.

On-street parking and vehicles stopping on the carriageway also contribute to congestion. This is a particularly avoidable cause of congestion, as the CDDC has rightly observed at the aforementioned meeting. The World Bank has specifically identified “inadequate parking facilities” as a contributor to street congestion, noting that traffic lanes are blocked by double parking. Roadside commercial activity and encroachment have also been identified as one of the main causes of congestion. Shops, vendors, loading and unloading, parking, etc., effectively reduce the usable width of a road in a busy urban area.

Weak enforcement has resulted in illegal parking, stopping, turning and other violations that reduce the capacity of any road. Experts have called for consistent enforcement of traffic regulations, supported, where appropriate, by cameras. Lack of discipline among all road users, especially heavy vehicle and trishaw drivers and motorcyclists, is responsible for ever-worsening road chaos. This aspect of the problem too needs to be addressed.

Haphazard, large developments generate enormous additional traffic if they are concentrated around already congested roads or junctions. Nugegoda is a case in point. High-rise apartment complexes are mushrooming in Colombo even on narrow lanes. How such building plans pass muster with municipal and urban development authorities defies comprehension.

There have been several major transport studies and master plans to tackle congestion and related transport issues. If the incumbent government is keen to make roads less chaotic and prevent avoidable waste of fuel and manhours, it can commission a follow-up study to review and update the findings of the previous ones and formulate a comprehensive strategy to ease congestion.

It is believed that congestion costs Sri Lanka tens of billions of rupees a year and wastes millions of productive man-hours, with estimates ranging from about Rs. 32 billion in Greater Colombo in 2009 to more than Rs. 200 billion annually in a more recent estimate.

Expressways have benefited the country, and the current government has unveiled an ambitious plan to build some more. New expressways may be built, but the government ought not to lose sight of the need to develop the other roads characterised by congestion and delays.

Continue Reading

Trending