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No country offers loans to Sri Lanka – SJB

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Main Opposition SJB says that the international rating agencies have downgraded the country, banks and financial institutions in April as a defaulter and watch negative status. As a result the country has been plunged into a dangerous financial crisis from political and economic crises where it cannot face the international community for any financial transactions.

Addressing a press conference held at the Opposition Leader’s office in Colombo on Thursdya, SJB MP Eran Wickramaratne said that no country offers loans to Sri Lanka as a result of downgrading by the rating agencies.

“Also country cannot get a loan even from an international capital market as they would consider Sri Lanka as a country which has no capacity to repay the loans. The government is also finding it difficult to obtain loans even from Sri Lankans through local treasury bills. Despite attempts to borrow Rs. 97,500 million last week, the government was able to obtain only Rs. 46,066 million. That too as a three-month short-term loan at a high interest rate of 23 per cent,” he said.

“People have lost confidence in the government to invest in the long-term Treasury bills. The entire working class of the country has taken to the streets today saying that the government responsible for facing such a situation can no longer rule this country and that the President and the government should resign immediately. This crisis affects all parties, institutions and individuals equally.”

During the month of April Fitch rating has downgraded Sri Lanka’s long Term foreign – currency Issuer Default rating (IDR) to “C” from “CC” and views that sovereign default process has begun. S&P while lowered Selective Default from “CC” to “C” lowered 2023 and 2028 bonds to “D” default indicating that the government cannot repay the bond.

Further Fitch rating has placed National Long Term rating of 13 Banks and 12 non- banking financial institutions as Negative on April 26, 2022. This will create a situation where the international banks would not honor the LCs of the two State Banks where they will require an additional guarantee or an insurance premium increasing the cost, Wickramaratne said.

“Now the entire people of the country are saying the same thing. The voice of the Galle Face struggle is reflected in the country as well. The people are unanimously calling for the overthrow of this corrupt government, Gotabaya Go Home, Mahinda Rajapaksa Go Home, formation of a government without Rajapaksas and the abolition of the executive presidency.”

“The power struggle between the president and the prime minister is a family affair. It does not matter to the country. The Rajapaksas are now pushing for the formation of a Rajapaksa government without the Rajapaksas by using a second tier group of parliamentarians by leaving behind the corrupt ministers to back track to form an interim government. SJB would not take part in any interim regime under Rajapaksas,” Wickramaratne said.

“People say that this country does not want a Rajapaksa government. Moreover, the international community does not trust the Rajapaksas, so it is not possible to obtain any assistance from abroad with Rajapaksas in power.”



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PM Harini leads panel to protect public services

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Prime Minister Dr Harini Amarasuriya

The newly appointed Cabinet Committee tasked with ensuring the uninterrupted functioning of Sri Lanka’s public service held its inaugural meeting on Thursday (19) at the Presidential Secretariat under the patronage of Prime Minister Dr Harini Amarasuriya.

The Committee convened to discuss strategies to maintain seamless government operations in the face of potential disruptions caused by the ongoing conflict situation in the Middle East, with particular focus on energy resource management.

According to officials, the discussions emphasised sustaining essential government services, ensuring continued service delivery to the public, and addressing the operational challenges faced by public sector employees during the current circumstances. The Committee also examined measures to mitigate any disruptions that could affect day-to-day administrative and service functions across ministries and departments.

Key attendees at the meeting included the Minister of Public Administration, Provincial Councils and Local Government A. H. M. M. H. Abayaratne; Secretary to the President Dr Nandika Sanath Kumanayake; Secretary to the

Prime Minister Pradeep Saputhanthri; Chief of Staff to the President Prabath Chandrakeerthi; and senior secretaries from key ministries including Health and Mass Media, Transport, Highways and Urban Development, Energy, and Digital Economy.

Representatives from state institutions such as the Ceylon Petroleum Corporation were also present, highlighting the government’s focus on energy security as a central priority. The Committee’s deliberations underscored a coordinated approach to balancing uninterrupted public service delivery with effective management of limited energy resources amid the ongoing geopolitical uncertainties.

Observers note that the formation of this Cabinet Committee reflects the government’s proactive stance in safeguarding national administrative functions and ensuring that critical public services remain resilient during times of external pressures.The Committee is expected to meet regularly to monitor developments, evaluate emerging risks, and implement practical measures to maintain operational continuity across the public sector.

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Sajith slams President over war conduct and economic missteps

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Opposition Leader Sajith Premadasa on Friday lashed out at President Anura Kumara Dissanayake in Parliament, accusing him of failing to uphold international law during wartime.

Premadasa said the President’s claim of neutrality ignored breaches of the UN Charter—including Articles 2.4 and 2.7—and other global conventions. “A neutral stance requires openly acknowledging violations,” he argued, criticizing the absence of ethical mechanisms to safeguard international law.

He also questioned the President’s handling of maritime issues, particularly whether Sri Lanka had been informed of the alleged attack on the Iranian vessel IRIS Dena, stressing that the Exclusive Economic Zone (EEZ) permits only peaceful activity.

On the economic front, Premadasa condemned the government for missing a chance to buy Russian oil during a 30-day U.S. sanctions suspension.

He said attempts to advise the Foreign Ministry, including a meeting with the Russian Ambassador, yielded no progress.

Premadasa further ridiculed the government’s earlier dismissal of the QR code fuel system, noting that officials are now adapting to it.

Turning to broader economic concerns, he called for immediate negotiations with the IMF to secure a new agreement, warning that the current primary balance of 2.3 is unsustainable. He stressed the urgent need for a poverty-reduction program, highlighting that one-third of Sri Lankans live in poverty.

He also demanded that surplus Treasury funds be used to support relief packages, arguing billions in reserves could aid households struggling with income shortfalls.Concluding his address, Premadasa criticized the government for failing to prepare for foreseeable crises, leaving the country vulnerable.

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Johnston Fernando, sons held in Lanka Sathosa lorry misuse case

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Former Minister Johnston Fernando, his two sons, and three others were remanded by the Wattala Magistrate’s Court yesterday (20) until April 2, the court confirmed.

The suspects, including Fernando’s elder son Johan, younger son Jerome, and a former transport manager of Lanka Sathosa, are under investigation by the Police Financial Crimes Investigation Division (FCID).

Authorities allege the Lanka Sathosa lorry was misused for operations linked to an ethanol company reportedly owned by Fernando, causing an estimated Rs. 2.5 million loss to the state.

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