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No country offers loans to Sri Lanka – SJB
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.”
News
SAARC journalists meet in New Delhi
Members of the South Asian Journalists Forum have gathered at the University of New Delhi for a two day conference themed ‘Peace and Co-operation’.
Journalists from Bangladesh, Nepal, Sri Lanka and India are attending the conference hosted by the University of Delhi in collaboration with the India Chapter of SJF, and will deliberate on how the media can act as a catalyst for regional stability and mutual coexsistence.
A tree plantation campaign was also held at the Ghandi Bhawan premises of the University to mark the event and symbolize growing regional ties.
The Sri Lanka delegation is led by President of SJF’s Sri Lanka Chapter Rahul Samantha Hettiarachchi.
News
Governor of Gujarat met with Sri Lanka PM to discuss exposition of Devnimori Relics
The Governor of the of Gujarat, Acharya Devvrat, along with the Deputy Chief Minister of Gujarat, Harsh Sanghvi, met with Prime Minister Dr. Harini Amarasuriya on Thursdy [February 05] at the Parliamentary Complex to discuss the arrangements related to the exposition of the Devnimori Sacred Relics of Lord Buddha, which have been brought to Sri Lanka under the patronage of Indian Prime Minister Narendra Modi and the Government of India.
These sacred relics of Lord Buddha were discovered during archaeological excavations conducted in the 1960s at the historic Devnimori site in Gujarat, the home state of Indian Prime Minister Narendra Modi. Until now, these relics had never been taken outside India. As a result of discussions held between President Anura Kumara Dissanayake and Indian Prime Minister Narendra Modi during his recent visit to Sri Lanka, the people of Sri Lanka have been granted this rare opportunity to venerate these sacred relics.
The exposition of the relics is being held for a period of seven days, from February 05 to February 11, at the Gangaramaya Temple in Hunupitiya, Colombo. Discussions were held between both parties regarding the arrangements related to this event.
The discussion was attended by Samar Nanda, Joint Secretary of the Indian Ministry of Culture; Dr. Satyanjal Pandey, Acting High Commissioner of India in Sri Lanka; Abhijit Halder, Director General of the International Buddhist Confederation; along with several others.
[Prime Minister’s Media Division]
News
INS GHARIAL makes port call in Colombo
The Indian Naval Ship (INS) GHARIAL made a port call in Colombo for operational turnarounds on 04 Feb 26. The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
Commanded by Commander Gaurav Tewari, INS GHARIAL is a vessel with a length of 124.8 meters.
During this visit, ten (10) Bailey Bridges, brought by ship, through the coordination of the High Commission of India in Sri Lanka, will be handed over to the Disaster Management Center. These bridges will provide temporary transportation links while bridges damaged across the island by adverse weather conditions are repaired.
The crew’s itinerary features scheduled goodwill activities with the Sri Lanka Navy, alongside visits to several tourist attractions across the island.
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