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JVP asks why govt. so secretive about ‘domestic debt optimisation’

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By Rathindra Kuruwita

The JVP yesterday asked the government why it had closed the banks for five days and summoned Parliament without an Order Paper if it was confident that the domestic debt restructuring would have no detrimental impact on the people.

JVP’s Dr. Nalinda Jayatissa told journalists in Colombo that the government had a responsibility to tell the people what it was planning to do.

“The JVP has not tried to cause panic contrary to claims made by some government ministers, and the problem was that the government had always been very vague about domestic debt restructuring,” he said.

“In April 2022, Sri Lanka defaulted on external debt servicing. At this point, there was no discussion on domestic debt restructuring. Then the government sought assistance of the IMF and reached an agreement with the latter. Even then, the government didn’t talk about domestic debt restructuring. Actually, some ministers said there would not be domestic debt restructuring, he said.

Dr. Jayatissa said that following the IMF agreement, Sri Lankans learned that the total debt of Sri Lanka amounted to 85.5 billion U.S dollars by the end of 2022.

“41.4 is external debt, and the rest is domestic debt. Out of the domestic debt, 25 billion dollars are in Treasury Bonds, 11 billion in Treasury Bills, 5.6 billion in development bonds, and the rest has been taken from various institutions. Who has invested in bills and bonds? Either state or private banks, insurance companies, or EPF/ETF. Apart from the deposits of customers, do these institutions have other substantial assets to buy these bonds?” he asked.

The JVP stalwart also asked the government to explain the difference between domestic debt restructuring and domestic debt optimization.

“Parliament is apparently meeting over the weekend. There isn’t even an order paper or a party leader’s meeting. If there is no problem for people, why is Parliament being summoned on a weekend without even an order paper? If nothing happens, why have they given banks a five-day holiday? The President also insists he will close down the stock market. Why are they asking people to stay at home?” he asked.



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Financial contribution from Gift Sri Lanka Foundation and the Georgia Buddhist Vihara, USA, for disaster relief

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In support of relief efforts for communities affected by the Ditwah cyclone, Gift Sri Lanka Foundation and the Georgia Buddhist Vihara (GBV), USA, have made a financial contribution of USD 16,000 to the Government’s ‘Rebuilding Sri Lanka’ Fund.

The relevant cheque was formally handed over on Thursday  (18) afternoon at the Presidential Secretariat by the Chief Incumbent of the Georgia Buddhist Vihara, Most Venerable Panamwela Vajirabuddha Nayaka Thero, to the Secretary to the President, Dr. Nandika Sanath Kumanayake.

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European Union provides over Euro 2.35 million Humanitarian Assistance to Sri Lanka

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The European Union has allocated a total of Euro 2.35 million of financial assistance to Sri Lanka. This includes Euro 500,000 through IFRC and Euro 1.85 million through DG-European Civil Protection and Humanitarian Aid Operations (ECHO) partners, WFP and UNICEF as humanitarian assistance to Sri Lanka, in response to the impact of Tropical Cyclone Ditwah,

In addition to the above allocation, the Union Civil Protection Mechanism (UCPM), which brings together 37 participating States, all 27 EU member States, as well as Albania, Bosnia and Herzegovina, Iceland, Moldova, Montenegro, North Macedonia, Norway, Serbia, Türkiye and Ukraine, is providing in-kind assistance to Sri Lanka.

As a part of the UCPM in kind assistance being provided, on Wednesday, 17th December, Sri Lanka received an aid shipment, with two air cargo flights arriving in Colombo from Germany, France and Luxembourg. This aid shipment included 83 tonnes of relief items such as family tents, mattresses, hygiene and kitchen kits, beds and water filters. The supplies are intended for distribution among communities most affected by the cyclone.

The arrival of the assistance was welcomed by the EU Ambassador to Sri Lanka, Carmen Moreno, French Ambassador, Rémi Lambert, and the Deputy Head of Mission at the German Embassy, Sarah Hasselbarth. On behalf of the Government of Sri Lanka, the donations were received by Sugeeshwara Gunaratna, Director General / Europe & North America, Ministry of Foreign Affairs, Foreign Employment & Tourism and Chathura Liyanarachchi, Director, Disaster Management Center (DMC).

Italy has also provided a team of structural engineers to support Sri Lanka’s disaster assessment and recovery process.

Furthermore, the EU has activated its Copernicus Emergency Management Service (EMS) in rapid mapping mode, with around 30 maps produced so far.

The European Union has committed continued cooperation and support to Sri Lanka’s disaster recovery and rebuilding process, reaffirming the enduring friendship and strong partnership between Sri Lanka and the European Union.

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Sajith: Met Dept. officials under virtual house arrest

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Sajith Premadasa

… hands over proposal asking for PSC probe into govt.’s lapses

Opposition and SJB leader Sajith Premadasa yesterday accused the government of having gagged the Meteorology Department officials, who, he said, had been placed under virtual house arrest. He claimed that they had been barred from speaking to the media.

Speaking in Parliament, Premadasa said withholding information from the public was unacceptable. He insisted that the Meteorology Department and international agencies had repeatedly issued warnings about extreme weather events between November 11 and 26. He demanded to know why Sri Lanka’s disaster management mechanism had not been activated in a timely manner.

“The key issue is why the country’s disaster management system failed to respond when the risks were clearly identified,” he told the House, describing the lapse as a serious failure of governance.

Condemning attempts to silence officials, Premadasa said acknowledging mistakes was the only way forward. “If we are wrong, we should admit it. If we are right, we should say so. Silencing professionals will help solve problems.

The Opposition Leader also called for a National Disaster Response Force and amendments to the Disaster Management Act to strengthen preparedness and response mechanisms.

Premadasa and several other Opposition MPs have submitted a formal proposal to the Speaker seeking the appointment of a Parliamentary Select Committee to investigate the government’s failure to mitigate the impact of Cyclone Ditwah.

The Opposition has demanded a 30-member select committee tasked with producing a comprehensive report on the institutional and administrative failures during the disaster.

Describing the government’s lack of preparedness as deeply regrettable, the MPs have said that timely action would have helped save many lives and reduced the scale of destruction caused by the cyclone.

By Saman Indrajith ✍️

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