News
Ranil urges govt. to speed up credit line with India before food riots break out
Former Prime Minister Ranil Wickremesinghe yesterday urged the government to finalise the credit line with India to purchase food, fuel, etc., as soon as possible. Wickremesinghe told the media that the foreign exchange crisis and the general deterioration of the economy had pushed the people to the brink of rioting.
“People can’t tolerate this anymore. The businesses are down, people are losing jobs, the middle class is shrinking, and the farmers are ruined. The government is blaming COVID-19 for everything but there are a lot of countries that have done well in the last two years. We too can solve these,” he said.
Wickremesinghe said that the government should go to the IMF now or should present an acceptable alternative to the country. Since, neither had been done, the people were angry, he said.
The former Prime Minister claimed that the looming food crisis would push the citizens towards starvation and that nothing could stop a full blown food crisis, by the 2022 Sinhala and Tamil New Year, if Sri Lanka continued on the current trajectory.
“The most optimistic forecast is that the harvest will be 60% compared to last year. Imagine the political impact of hunger. People will be angry and the slightest thing will trigger chaos. It is not good for the government, Parliament or the citizens. We must avoid this at all costs,” he said.
Wickremesinghe said that Sri Lanka was trying to obtain a Central Bank swap and credit lines for fuel, food and medicines from India and that the government must finalise those agreements as soon as possible.
“Getting a swap and credit lines will not solve the forex crisis but at least we will have food, fuel and medicine in the country. Until we figure out a medium or long term solution to the forex crisis, we must at least try to prevent chaos in the next few months,” he said. (RK)
A special search operation conducted by the Navy in the Mankuliya Lagoon of Negombo today (21st September 2023) led to the apprehension of a dinghy loaded with over 400kg of Kerala cannabis with an estimated street value of over Rs. 132 million
The seized consignment of Kerala cannabis and the dinghy were handed over to the Negombo Excise Station for onward legal action
Latest News
IMF MD and President Wickremesinghe focus on Financial Reforms and Debt Restructuring initiatives
In a crucial meeting held during the United Nations General Assembly (UNGA) in New York, Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, met with President, Ranil Wickremesinghe, to discuss vital economic matters.
During the meeting, Ms. Georgieva and President Wickremesinghe delved into the ongoing financial sector reforms and the substantial progress made in debt restructuring initiatives. The IMF Managing Director commended the Sri Lankan government for its effective measures in curbing inflation and nurturing a conducive environment for business growth, as well as the flourishing tourism industry. She expressed her satisfaction with the government’s commitment to enhancing the overall economic landscape.
(PMD)
President Ranil Wickremesinghe invited President Ebrahim Raisi of the Islamic Republic of Iran to visit Sri Lanka and ceremonially open the Uma Oya Hydropower Station when they met on the sidelines of the UNGA in New York on Wednesday (20).
President Raisi accepted the invitation and also extended an invitation to President Wickremesinghe to visit Iran. Both leaders agreed that these high level visits would give impetus to further consolidate bilateral ties.
The two leaders recognized that as countries belonging to the same region there is potential for regional cooperation in a range of areas of mutual interest including as members of the Indian Ocean Rim Association (IORA). The prospects for cooperation in the agriculture sector, particularly introducing modern technology in which area Iran has considerable expertise, was also discussed.
(PMD)
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Kerala cannabis with a street value of over Rs.132 million held by Navy in Negombo
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