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Sustainable tinkering of currency urged

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By Sanath Nanayakkare  

An effort made by policymakers to tinker with the Sri Lanka rupee appears to be working out well, at least for a period of time, a forex market participant told The Island yesterday. 

“As the week began, almost all the banks were offering the US dollar at Rs.199.95 after being asked not to sell or buy the currency above Rs.200 to the US dollar at meetings with authorities over the last week,” he said.

“Banks’ support has been sought not to sell USD above Rs.200 to importers or buy from exporters above Rs. 200 while giving the banks the assurance that forex inflows would be coming in,” he said.

“The quicker the country gets expected inflows, the more stable the banks would be in issuing dollars to importers as and when they want, without running into a USD shortage, ” he said.



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PM pays condolence to pope Francis at the Embassy of the Vatican in Colombo

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The Prime Minister, Dr. Harini Amarasuriya, paid a solemn visit to the Embassy of the Vatican in Colombo today (25) to offer condolences on behalf of the Government and the people of Sri Lanka on the passing of  His Holiness Pope Francis.

During the visit, Dr. Amarasuriya signed the book of condolence, expressing deep sorrow over the demise of the beloved spiritual leader and extending heartfelt sympathies to the Catholic community both in Sri Lanka and around the world:

The Prime Minister was received by the Archbishop Brian N. Udaigwe, Apostolic Nuncio of the Apostolic Nunciature, the Vatican Embassy in Colombo and other officials.

[Prime Minister’s Media Division]

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President conducts an inspection tour of Kandy city

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President Anura Kumara Disanayake conducted an inspection tour of Kandy city on Thursday (24) night to inspect the progress of the “Siri Dalada Wandanawa” and the related issues that have emerged.

The President held an urgent meeting with relevant officials to address the issues related to sanitation facilities for devotees visiting Kandy to venerate the sacred tooth relic

Agriculture, Livestock, Land and Irrigation Minister K.D. Lalkantha, Diyawadana Nilame of the Sri Dalada Maligawa Nilanga Dela Bandara , Acting Inspector General of Police Priyantha Weerasuriya, Army Commander Lieutenant General Lasantha Rodrigo, Governor of the Central Province Prof. Sarath Abeykoon, Kandy District Secretary Indika Udawatte and others participated in this meeting.

[PMD]

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Sri Lankan delegation meets with US Trade Representative

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A Sri Lankan delegation met with US Trade Representative Ambassador Jamieson Greer on the 22nd of April, 2025 at the US Trade Representative Office in Washington D.C.

The Sri Lankan delegation,  on the instructions of President Disanayaka, who is also the Minister of Finance, handed over the originals of communications addressed to US Trade Representative Ambassador Greer

The delegation updated Ambassador Greer on the challenges that Sri Lanka has faced in the past and the steps that are being taken by the Government of Sri Lanka to overcome future challenges and move towards full economic recovery. The delegation also highlighted the prompt and positive commitment of the Government of Sri Lanka to work with the US Government in reducing the trade deficit, and lowering tariff and non-tariff barriers.

Ambassador Greer acknowledged  the proposals made by the Sri Lankan government and expressed hope that an agreement can be reached soon between the two countries to ensure fair and equitable trade relations.

Later on that day, the Sri Lankan delegation met with the USTR delegation appointed by Ambassador Greer lead by Assistant United States Trade Representative, In-charge of South and Central Asia, Brendan Lynch along with Director In-charge of South Asia, Emily Ashby to discuss further the appeal made in writing by Sri Lanka to the US. The two sides agreed to continue the discussions with the objective of finalizing a bilateral trade agreement between the two countries. Both sides expressed the desire to finalize the agreement in the shortest possible time period.

The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries. The head of USTR is the U.S. Trade Representative, a Cabinet member who serves as the president’s principal trade advisor, negotiator, and spokesperson on trade issues.

[PMD]

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