CBSL chief expresses optimism
Central Bank Governor Dr. Nandalal Weerasinghe told the media, on Sunday, that the country’s dollar crisis could be managed as the IMF was set to approve a 2.9 billion-dollar bailout package on Monday. He said that Sri Lanka now had adequate foreign reserves for imports for essential sectors.
Dr. Weerasinghe added that the IMF package would boost investor confidence and enhance the country’s access to more foreign funds and investments.
The IMF package would include budgetary support, which was a new element in IMF lending, he said. Sri Lanka started negotiations with the IMF, in 2022, following the onset of the current economic crisis.
Heat index at caution level in Northern, North-Central, North-western and Eastern provinces and Monaragala and Hambanthota districts.
Heat index Advisory Issued by the Natural Hazards Early Warning Centre at 06.30 a.m. 27 May 2023, valid for 27 May 2023
Heat index, the temperature felt on human body is expected to increase up to ‘Caution’ level at some places in Northern, North-Central, North-western and Eastern provinces and Monaragala and Hambanthota districts.
Navy update Mullaitivu fishing communities of prevailing issues in industry
The Sri Lanka Navy held a special meeting at SLNS Gotabaya in Mullaitivu recently, to update the fishing communities in Mullaitivu of prevailing issues in the industry. The meeting was chaired by Commander Eastern Naval Area and Commandant Volunteer Naval Force, Rear Admiral Dammika Kumara.
During the meeting, the local fishing communities raised their concerns over poaching by foreign fishermen in their waters as well as illegal fishing practices of a handful of local fishermen. The Navy updated the fishing communities regarding the collaborative efforts undertaken by the Navy, Coast Guard, and Department of Fisheries and Aquatic Resources to combat illegal fishing practices.
President spearheads Sri Lanka’s economic revival and seeks Japanese investment
President Ranil Wickremesinghe actively engaged in a pivotal business round table on “Sri Lanka’s Economic Revival & Opportunities for Japanese Enterprise,” where he presented the nation’s commitment to stabilizing and liberalizing the economy while actively inviting new foreign ventures.
The event, jointly organized by JETRO, Japan-Sri Lanka Business Co-Operation, and the Embassy of Sri Lanka in Japan, aimed to strengthen economic ties between the two nations.
During the round table, President Wickremesinghe fervently outlined the ongoing efforts undertaken by Sri Lanka to restore stability and openness to its economy, presenting an inviting climate for foreign investment. With a clear vision to attract Japanese enterprise, he discussed the various measures and reforms being implemented to create a conducive business environment for potential investors.
Recognizing Japan’s significance as a vital economic partner, President Wickremesinghe emphasized the mutual benefits that can be derived from increased collaboration between the two nations. Sri Lanka’s strategic location and skilled workforce were highlighted as key advantages, providing a gateway for Japanese companies to expand their operations in the region and leverage the country’s emerging economic opportunities.
As Sri Lanka continues its journey toward economic revival, President Wickremesinghe’s active participation in the round table, underscores the government’s unwavering commitment to attracting foreign investment and driving sustainable economic progress.
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