News

Sri Lanka awaiting ‘good news’ from global lender within next 24 days

Published

4 years ago

2021/02/4

By Sanath Nanayakkare

Sri Lanka, which is having talks with the People’s Bank of China, Reserve Bank of India and China Development Bank, is likely to receive good news from at least two of the institutions this month, Dr. Chandranath Amarasekara, Director of Economic Research of the Sri Lanka Central Bank says.

Dr. Amarasekara said so at a Q&A session as a guest speaker at a webinar, Economy+Sector Review-Outlook 2021, organised by the Ceylon Chamber of Commerce; the event was hosted by HSBC Premier Sri Lanka.

According to Dr. Amarasekera, Sri Lanka had to meet debt repayments of US$ 4.3 billion in 2021 and its foreign reserve levels stood at US$ 5.7 billion as at December 2020.

“We are confident that we can meet our external debt obligations in 2021”, Dr. Amarasekara said.

Asked how Sri Lanka would meet its near term external debt repayments, Dr. Amarasekara said: “This is not a new development for Sri Lanka. In 2019 and 2020 also we honoured debt repayments amounting to US$ 4.5 billion each year. However, the current speculation on the matter isn’t helpful. What is more conducive to the current conditions is making the right moves to benefit from the prevailing positive domestic market sentiment and to drive domestic production to a higher level and boost inflows.”

Asked about the ‘historic level’ of Treasury bills held by the Central Bank, he said:”The Central Bank buys government securities to support the economy and to boost liquidity in line with the Central Bank’s monetary policy. This has been done in the past too. When we can’t buy in the primary market, we buy in the secondary market.

“With the lower global oil prices and current import restrictions in place, we were able to save foreign currency worth US$ 3.9 billion in 2020. If this can be repeated, it will help ease the deficit in our trade account. Yes, there will be losers in the process, but this is a necessary evil.”

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Heat index, is likely to increase up to ‘Caution level’ at some places in Northern, Eastern and North-central provinces and Monaragala and Hambantota districts

Published

18 seconds ago

2025/04/30

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology at 3.30 p.m. 29 April 2025, valid for 30 April 2025

The general public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, Eastern and North-central provinces and Monaragala and Hambantota districts

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

News

AKD’s fourth state visit

Published

1 hour ago

2025/04/30

Sahan Weerasooriya

President Anura Kumara Dissanayake will undertake a four-day state visit to Vietnam on 03 May, Cabinet Spokesman Minister Dr. Nalinda Jayatissa said. Since the presidential election, President Dissanayake has so far visited India, China and the UAE.

News

Sri Lanka-Pakistan bilateral defence dialogue strengthens strategic ties – MoD

Published

1 hour ago

2025/04/30

Sahan Weerasooriya

AVM Thuyacontha shaking hands with Pakistan Defence Minister Khawaja Muhammad Asif (pic courtesy MoD)

The 5th annual Sri Lanka-Pakistan Bilateral Defence Dialogue commenced on Monday (April 28) in Islamabad, Pakistan, marking a continued commitment to strengthening defence cooperation between the two nations.

The MoD statement: “The Sri Lankan delegation is led by Defence Secretary Air Vice Marshal (retd.) Sampath Thuyacontha accompanied by Commander of the Navy, Vice Admiral Kanchana Banagoda, and Additional Secretary (Defence) of the Ministry of Defence Jayantha Edirisinghe. The Pakistani delegation is headed by Lieutenant General (retd.) Muhammad Ali, Secretary Defence of the Islamic Republic of Pakistan.

In conjunction with the on-going defence dialogue, Defence Secretary Thuyacontha held a side-line meeting yesterday (April 29) with Defence Minister of Pakistan, Khawaja Muhammad Asif.

These high-level engagements aim to enhance bilateral cooperation, foster mutual understanding on regional security dynamics and explore opportunities for defence collaboration. Both nations share a longstanding relationship rooted in mutual respect and strategic cooperation. The dialogue reflects the growing importance of partnerships in maintaining stability and promoting peace in the South Asian region.

The three-day dialogue, which concludes today (April 30), is expected to reinforce bilateral defence ties and contribute to broader regional security objectives.