Connect with us

News

Bangladesh reminds SL of its loan

Published

on

Bangladesh has stated that it would be hopeful Sri Lanka could pay back the $200 million debt that it owes to the country by March 2023, said a news report published by BD News 24, an English and Bengali language news website of Bangladesh. The report said: Abdur Rouf Talukder, Governor of Bangladesh Bank, provided a positive outlook on the matter after a meeting with his Sri Lankan counterpart Nandalal Weerasinghe in the United States.The two governors held a discussion on the sidelines of the Annual Meetings of the International Monetary Fund and World Bank at the World Bank headquarters in Washington, DC on Tuesday.

Bangladesh Bank Chief told the reporters on Thursday that Bangladesh gave $200 million to Sri Lanka under a currency swap agreement, but due to the economic crisis, Sri Lanka could not return the money on time.Bangladesh Bank Governor has said that Bangladesh extended the loan payment period twice at the request of Sri Lanka.Talukder said that Sri Lanka is supposed to repay the US$ 200 million loan in three installments in February and March next year.

On the talks with Weerasinghe, Talukder said, “We had a very good meeting. The governor assured me that they will meet the deadline for repayment. They are now restructuring their debts and have spoken to India, Japan and China about it.”

He told reporters that Sri Lanka is also working on a deal with the IMF that has also been roughly confirmed. “A final agreement on the programme will probably be reached between November and December.”

Last year, Bangladesh agreed to give Sri Lanka loans of at least $200 million from its foreign exchange reserves under a currency swap deal.The Bangladesh Bank released $50 million as the first tranche under a currency swap deal to support the poorly-rated Sri Lanka on August 19, 2021. The second tranche amounting to $100 million was released on August 30, 2021 and the final instalment worth $50 million was released on September 21, 2021. The credit was to be repaid in installments over three months, the central bank said at the time. But as the economic and political crisis in Sri Lanka worsened, its external debt became unsustainable. With political stability gradually being restored, Sri Lanka is now moving towards repaying its debts, BD News reported.



News

Judicial vacancies: President keeps country guessing

Published

on

President

The NPP government has not taken a final decision regarding filling of the vacancies in the judiciary.

A group of Opposition MPs, led by SJB leader Sajith Premadasa, on 12 June, requested Speaker Dr. Jagath Wickremeratne to take up the issue of judicial vacancies with President Dissanayake. Opposition sources said that there were four vacancies, each in the Court of Appeal and the Supreme Court, and the inordinate delay had adversely affected the judiciary.

Government sources indicated that there was no change in the status quo as regards filling of vacancies. Referring to the government proposal to extend the retirement age of judges, authoritative sources said that no final decision had been taken yet.

SJB lawmaker Dayasiri Jayasekera told The Island that they would raise the issue in Parliament this week.

He said that the deliberate delay in making appointments to superior courts and the move to extend the retirement age couldn’t be taken separately.

The MP noted that the Bar Association of Sri Lanka, the Lawyers’ Collective, the Colombo High Court Lawyers’ Association, Colombo Magistrate’s Court Lawyers’ Association and the Bar Association of Badulla had opposed the government move.

There hadn’t been any public statements in support of the government move, MP Jayasekera said, urging the government to end uncertainty in the judiciary.

by Shamindra Ferdinando

Continue Reading

News

Sajith calls on Opposition parties to rally around SJB

Published

on

Sajith

SJB leader Sajith Premadasa has invited the UNP and other political parties to join his party. Premadasa, who is also the leader of the Opposition, has emphasised that the UNP and the SJB could reach a consensus on policies but his party wouldn’t, under any circumstances, accept whatever formula to share positions. Premadasa said so, speaking to the media over the weekend, after meeting the Mahanayaka Thera of the Malwatta Chapter of the Siyam Nikaya Most Venerable Thibbatuwawe Sri Siddhartha Sumangala Thera.

A statement issued by the Opposition Leader’s Office quoted MP Premadasa as having extended an invitation to all political parties to give up extremist policies and join the SJB.

The SJB leader alleged that the NPP government feared facing elections and that was the reason for the inordinate delay in holding Provincial Council polls. PC polls were last held in 2012, 2013 and 2014, on a staggered basis. Premadasa said that if PC polls were held his party would definitely win the majority of PCs.Premadasa also urged the government to reduce electricity tariffs and fuel prices.

Continue Reading

News

Ex-EC Chief slams govt. over PC polls delay

Published

on

Deshapriya

Former Chairman of the Election Commission, Mahinda Deshapriya, on Saturday, strongly criticised the continued postponement of local government elections, declaring that every day without elections constitutes a violation of both the Constitution and democratic principles.

Speaking during an interview with journalist Bhanuka Rajapaksa, on Hiru TV, on Saturday, Deshapriya described the current administration of local government institutions by unelected officials as fundamentally undemocratic and contrary to the spirit of representative governance.

Deshapriya said local authorities, across the country, are presently being managed by secretaries and bureaucrats rather than elected representatives, depriving citizens of their democratic right to be governed by individuals, chosen through the electoral process.

“If the Constitution recognises and provides for local government institutions, then it is the responsibility of the State to ensure that elections are held and that these bodies are administered by representatives, elected by the people,” he said.

Deshapriya rejected attempts to justify the prolonged delay, arguing that responsibility for the situation rests with the government.

He noted that while various political parties have publicly stated their readiness to face elections, the ruling administration possesses the authority to resolve any issues relating to the electoral system.

The former Election Commission chief pointed out that the government enjoyed a two-thirds majority in Parliament, enabling it to enact any legislative amendments required to facilitate the conduct of elections. Instead, he said, successive committees and review processes had been used to postpone a final decision.

He also referred to efforts by opposition legislators who have moved motions seeking to address concerns relating to the electoral framework and expedite the holding of local government polls.

Deshapriya warned that any attempt to appoint a fresh delimitation committee could further delay the electoral process, making it unlikely that local government elections would be held within the current year.

He also dismissed claims that financial constraints have prevented the conduct of elections. Expressing surprise at such assertions, he questioned how funding shortages could be cited as a reason for postponement while expenditure continues in other sectors.

According to Deshapriya, the existence of laws establishing local government institutions imposes an obligation on the State to ensure that those institutions are populated through democratic means.

“The legal framework exists. If elected representatives are not appointed through elections and institutions continue to function under unelected administrators, that is a failure of the State,” he said.

Continue Reading

Trending