News
Rajeev Amarasuriya speaks at Kigali Global Dialogue 2023
Attorney Rajeev Amarasuriya joined the Plenary Session on “Managing Debt and Looking at alternatives in Development Finance” at the Third Kigali Global Dialogue 2023 held in Kigali, Rwanda co-hosted by the Observer Research Foundation, (ORF) America, and the Rwanda Governance Board.
“This year’s dialogue was an official outreach event of the G20 under India’s Presidency,” a news release on the event said.
The Kigali Global Dialogue brings together policymakers, academics, civil society, and the private sector from around the world to deliberate and devise solutions to critical sustainable development challenges facing the global community. The platform is unique because it brings together delegates and speakers from more than 70 countries, it amplifies perspectives from the across geographies.
Amarasuriya spoke on the vital role multilateral agencies play and the need for countries in financial distress to reach out to them early and that there was no room for experimenting in the present stressed and stretched Ecosystem.
When looking at avenues of alternate debt, he stated that low and middle Income countries in the global South were not seeing their full potential because some basics such as systems of good governance, accountability, being corruption free, consistent government policies, the ease of doing business are not adequately in place.
He also touched on the potential of diaspora funding and the need to build confidence in the diaspora to invest their monies in their motherland. In this respect, he proposed looking at the creation of independent agencies, either country specific or wider, to route diaspora funding, which would provide the necessary confidence to the diaspora.
Speaking in relation to debt, and some of the causes for the situation in Sri Lanka, he raised the issue of the need for lenders and borrowers to be more responsible. Whilst the multilateral agencies still follow the procedures and processes, he observed that there have been instances where bilateral and private lenders sometimes do not.
He mooted the proposition of developing an eco system where liability could also be imputed on the lender, and in this direction, proposed the formulation of international best practices for lending and borrowing by states and even an international convention in this respect. It was his view that such practice must incorporate the principle that if a lender had recklessly lent knowing the project will not generate the requisite return or was destined to fail, then that the lender was also culpable and was responsible to take part of the liability in a situation of debt distress.
He also flagged the concept of the responsibility of a nation towards the citizens of another nation, even within the lending eco space and drew relation to the Sustainable Development Goals and Resolutions of the United Nations General Assembly.
The other Members of the Panel included Kampeta Pitchette Sayinzoga, the CEO, Rwanda Development Bank, Gwendoline Abunaw, Managing Director, Ecobank Camaroon, Tetsushi Sonobe, Dean and CEO, Asian Development Bank Institute, Nagesh Kumar, Director Institute for Studies in Industrial Development (ISID) India and the Session was Moderated by Rachel Toku Appiah, Director Program Advocacy and Communications, Bill and Melinda Gates Foundation, Africa.
The Indonesian Naval Ship, ‘KRI SULTAN ISKANDAR MUDA – 367’, arrived at the port of Colombo today (22 Jan 26) on a scheduled port call for logistics replenishment and a goodwill mission.
In keeping with time-honored naval tradition the ship was accorded a ceremonial welcome upon arrival.
The 90.71m – long Sigma Corvette FS is commanded by Commander Annugerah Anurullah.
During the stay in Colombo, the crew members of the ship are expected to visit some tourist attractions in the city limits.
Further, this visit provides an avenue to enhance professional interaction and courtesy engagements among two navies.
The Royal Navy of Oman Ship ‘AL SEEB’ arrived at the Port of Colombo on a logistics replenishment visit today (22 Jan 26).
The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
The 75m – long ship is commanded by Lieutenant Commander Hamad Bin Mohammed Aldarmaki. The port call will facilitate professional interaction and goodwill exchanges between the two navies.
During her stay in Colombo, crew members of the ship are expected to visit some tourist attractions in the city of Colombo.
News
Mechanism to be established involving university academics and experts for Education Reforms – President
President Anura Kumara Dissanayake stated that the Government is taking steps to establish a comprehensive mechanism, supported by an appropriate legal framework, to bring together university academics, experts and all relevant parties in order to resolve issues arising during the implementation of education reforms.
The President made these remarks during a discussion with the Federation of University Teachers’ Associations (FUTA) held on Wednesday (21) morning at the Presidential Secretariat.
During the discussion, FUTA members emphasized the challenges encountered while trying to implement educational reforms through a framework established by the National Institute of Education, in line with the current laws and regulations.
They further emphasized that while their association acknowledges the need for new education reforms, the urgency of such reforms is greater for students in rural schools than for those in urban schools.
The Federation of University Teachers’ Associations further stated that they appreciate the decision taken by the Government, under the leadership of the President, to address the issues arising from education reforms and affirmed their readiness to contribute to this process.
As a continuation of the previous discussion, proposals addressing the challenges faced by academics within the university system, along with possible solutions, were presented to the President. In response, the President emphasized that the Government would take all possible measures to safeguard the university system and strengthen education.
The discussion also covered proposed amendments to the Universities Act.
President Anura Kumara Dissanayake noted that, in the aftermath of the recent disaster, the Government has been effectively implementing a nationwide rebuilding programme, addressing economic stability, development and all critical sectors. The President also called upon university academics to actively support these reconstruction efforts.
The meeting was attended by Minister of Ports and Civil Aviation, Anura Karunathilaka, as well as representatives of the Federation of University Teachers’ Associations, including its President, Prof. P. R. Weerathunga, Vice President M. A. M. Sameem and Secretary Charudaththe Ilangasinghe.
Indonesian Naval Ship ‘KRI SULTAN ISKANDAR MUDA – 367’ arrives in Colombo
Royal Navy of Oman Ship ‘AL SEEB’ calls at Port of Colombo
Jacks out with illness as Sri Lanka bat against England
Mechanism to be established involving university academics and experts for Education Reforms – President
New integrated framework to bring all stakeholders together to safeguard and rebuild Central highlands – President
ICC T20 World Cup Trophy tour in Sri Lanka launched under President’s patronage
‘Dates have the highest sugar content to fight Coronavirus’
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