News
Debt restructuring: Sajith alleges Prez failed to secure optimal deal
By Saman Indrajith
Opposition and SJB leader Sajith Premadasa told Parliament yesterday (02) that the government had failed to secure the optimal deal in the debt restructuring process.
Soon after the President made a special statement to the House, Premadasa said that the government haD failed to secure the best possible deal in the debt restructuring process. The globe-trotting President could have made use of his visits to secure the best possible deal to Sri Lanka. “The President says that the government has assured the best interests of this country but there are serious issues with regard to financial discipline and deliverance and promises it makes,” Premadasa said.
The government had not yet been able to provide thE House with bi-lateral agreements it had entered in relation to the debt-restructuring process, Premadasa said..
The President’s statement that Sri Lanka had been able to enter into agreements to restructure debt earlier than other countries that had been in similar economic crises was not true. Countries such as Ghana, Argentina, Ecuador, Barbados, Belize, Mongolia and Chad succeeded in entering into debt-restructuring agreements before Sri Lanka, said the Opposition Leader.
“We expected the President to furnish all necessary information pertaining to the debt-restructuring agreement. However, there was no such presentation. We are waiting to see whether Sri Lanka has been able to restructure the debts in a manner favourable to this country. We are yet to find whether the incumbent government could fare better than Argentina, Ghana and Ecuador in the debt restructuring agreement,” Premadasa said.
“The President, in his statement to the nation, said that we’ll start repaying the loans in 2028. There was a Debt Sustainability Analysis by the IMF in March 2023 stating that Sri Lanka would be able to start the process of repaying its debts from 2033. We demand to know how and why the government could not keep it to 2033 and reasons for starting this in 2028. We think that this is owing to failures that took place during the negotiations.
“The President speaks of a success in the debt-restructuring process without revealing true figures. For example, he stated that the debts we owed to the China Exim Bank was at US $ 3.9 billion and that the bank had agreed to restructuring. But he did not mention anything about the US $ 13.8 million debt we owed to the Chinese Government or US $ 538 million debt to the China Development Bank.
Premadasa said that the government’s debt restructuring process had double standard policy with regard to International Sovereign Bond (ISB) holders and the poor people in the country. It seems that the government has succumbed to the threats and pressure of the ISB holders. In 2022, it was clearly stated that the government would not restructure the local debts. However, in the face of the ISB holders’ threats, the government went for that. It did not even touch the super-rich primary bond dealers but pick-pocketed the monies in the pension funds and EPF. In October 2023, the government announced that it would not implement Value Recovery Instruments. However, after ISB holders exerted pressure, the government implemented Macro-link Bonds. It promised transparency and comparability for domestic bond holders and spoke of equal burden sharing. But there was no burden sharing by ISB holders; instead the government pick-pocketed the poor people’s money in pension funds and EPF.
“The President, in his statement, questioned the achievements this government has been able to make, good or bad. I am asking whether increase of malnutrition is good or bad, whether the brain drain is good or bad, whether the increase of unemployment good or bad, whether the increase of poverty is good or bad, whether the closure of MSMEs in their hundreds of thousands is good or bad, whether the entrepreneurs leaving their professions is good or bad, whether the collapse of construction industry is good or bad, whether the children faint in schools because they have no food is good or bad,” Premadasa demanded to know.
News
Govt. urged to withdraw Media Professionals Bill
The Sri Lanka Press Institute (SLPI) and several leading media organisations have expressed strong opposition to the proposed Chartered Institute of Media Professionals of Sri Lanka (CIMP) Bill, urging the Government to withdraw the legislation and engage in consultations with stakeholders.
In a joint statement, the SLPI, together with its constituent organisations—the Newspaper Society of Sri Lanka (NSSL), the Editors’ Guild of Sri Lanka (TEGOSL), the Free Media Movement (FMM) and the Sri Lanka Working Journalists Association (SLWJA)—as well as affiliated bodies including the Muslim Media Forum (MMF), the Tamil Media Alliance (TMA), the Federation of Media Employees Trade Union (FMETU) and the South Asia Free Media Association (SAFMA) – Sri Lanka Chapter, said their primary objection was the government-led nature of the proposed institute.
Full text of the statement: The Sri Lanka Press Institute (SLPI), and its constituent partners, the Newspaper Society of Sri Lanka (NSSL), The Editors’ Guild of Sri Lanka (TEGOSL), the Free Media Movement (FMM), the Sri Lanka Working Journalists Association (SLWJA) together with its affiliated organizations, the Muslim Media Forum (MMF), the Tamil Media Alliance (TMA), The Federation of Media Employees Trade Union (FMETU), the South Asia Free Media Association’s SL Chapter (SAFMA) object the proposed Chartered Institute of Media Professionals of Sri Lanka (CIMP) Bill.
Our primary objection stems from the government-led nature of this initiative. History shows that robust professional bodies, such as the Institute of Engineers and the Sri Lanka Institute of Architects, were founded and drafted by the professionals themselves before being incorporated by Parliament. In contrast, the CIMP is a state-driven project ordered to be published by the Minister of Health and Mass Media despite objections raised by media’s professional bodies. We view this as an attempt to impose a state-managed regulatory framework upon a profession that must remain independent of government interference to function effectively.
The SLPI, its constituents and affiliated organizations maintain that professional media standards must be self-regulated in principle and led by the media community, not mandated by law under ministerial oversight. The SLPI has presented an alternative mechanism, viz., the Sri Lanka Media Commission (SLMC), based on co-regulatory and self-regulatory principles, which improves professionalism. In addition, the Sri Lanka College of Journalism, which is recognised by the media industry for training journalists for more than two decades, could also be an alternative way of building relevant journalism standards with government financial support if it intends to genuinely promote media professionalism. We call upon the government to withdraw this Bill and engage in a genuine dialogue with stakeholders that respects the autonomy and freedom of the media in a democracy.
News
Fort Magistrate orders arrest of MP Archchuna
The Fort Magistrate’s Court yesterday issued a warrant for the arrest of Jaffna District MP Ramanathan Archchuna after he failed to appear before court in connection with a pending case.
Court officials said the MP and his bail sureties were absent when the matter was taken up, prompting the Magistrate to issue the warrant.
The case relates to an alleged incident in which Archchuna is accused of obstructing the duties of Fort Police officers while they were performing their duties.
The matter was listed before the Colombo Magistrate’s Court yesterday as well, when the MP failed to appear before court and his bail guarantor was also absent. Following this, the Magistrate ordered that a warrant be issued against him.
The case is to proceed with further legal action against the MP.
News
Dengue rages with average of 2,391 new cases detected daily
Sri Lanka’s dengue outbreak has continued to worsen, with the number of infections reported this year surpassing 80,000, according to official surveillance data.
The country recorded 80,114 dengue cases as of midnight on July 23, while health authorities reported 59 dengue-related deaths, resulting in a case fatality rate of 0.07%.
The National Dengue Control Unit said that by Week 29, a total of 175 Medical Officer of Health (MOH) areas had been identified as high-risk zones, with an average of 2,391 new cases being reported daily.
July has emerged as the worst month of the year so far, with 24,739 cases recorded, while June also saw a significant surge with 21,534 infections.
The Western Province continues to account for more than half of the country’s dengue burden, with Gampaha recording 16,950 cases and Colombo 16,091 cases. Together, the two districts account for more than 40% of total infections reported nationwide.
Other districts recording high numbers include Matara with 5,534 cases, Kandy with 4,827, Kalutara with 4,545, and Ratnapura with 4,428 cases. The Colombo Municipal Council area alone has reported over 3,200 dengue infections.
At provincial level, the Southern Province has recorded 12,143 cases, followed by the Central Province with 6,686 and Sabaragamuwa with 6,607. Meanwhile, the North Western, Eastern, Uva, North Central and Northern provinces have reported 3,844, 3,148, 2,154, 1,264 and 1,173 cases respectively.
Health authorities have urged residents, particularly those living in high-risk areas, to intensify mosquito-control measures and seek immediate medical attention when dengue symptoms appear, warning that the situation could deteriorate further without sustained preventive action.
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