Page 37 - Sri Lanka

2022 in review: Russia war to COP27, top events that shaped the world

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Sri Lanka's economic woes continue, data shows GDP contracted 11.8% in Q3

Sri Lankan authorities say the island-nation's estimated GDP contracted by 11.8 per cent year-on-year in the third quarter of 2022

United Nations' WFP approves $74.87 million for Sri Lanka's strategic plan

The WFP appreciated the government's commitment towards achieving food security and improved nutrition and to corporate with achieving the Agenda for 2030 and SDGs

Lanka prez holds all-party meeting for peaceful resolution of Tamil issue

An all-party meeting convened by President Ranil Wickremesinghe has discussed the 13th Amendment to Sri Lanka's Constitution as mooted by India to resolve the long-standing demand for political autonomy for the minority Tamils in the island nation, political leaders said on Wednesday. The Tamil parties which participated in the meeting on Tuesday urged the government to hold the northern provincial council election. The 13A is already a part of the Constitution and it is a point that most parties agreed to, Tamil Progressive Alliance (TNA) leader Mano Ganesan told PTI. Ganesan, who represents mostly the Western province-based Tamils of Indian origin, said President Wickremesinghe has asked him to forward proposals on the 13A issue on behalf of the hill country Tamil community or the Tamils of Indian origin. India has been pressing Sri Lanka to implement the 13th Amendment which was brought in after the Indo-Sri Lankan agreement of 1987. The 13A provides for devolution of power to t

Sri Lanka holds all-party meet to resolve Tamil's political autonomy issue

An all-party meeting was held here to discuss the 13th Amendment to Sri Lanka's Constitution as mooted by India to resolve the long standing demand for political autonomy for the minority Tamils in the island nation, political leaders said on Wednesday. The Tamil parties which participated in the meeting on Tuesday urged the government to hold the northern provincial council election. The 13A is already a part of the Constitution and it is a point that most parties agreed to, Tamil Progressive Alliance leader Mano Ganesan told PTI. Ganesan, who represents mostly the Western province based Tamils of Indian-origin, said President Ranil Wickremesinghe has asked him to forward proposals on the 13A issue on behalf of the hill country Tamil community or the Tamils of Indian-origin. India has been pressing Sri Lanka to implement the 13th Amendment which was brought in after the Indo-Sri Lankan agreement of 1987. The 13A provides for devolution of power to the Tamil community. Ganesan sai

Cyclone Mandous kills 3, affects over 21,000 in Sri Lanka; caution advised

The DMC said the effects of Mandous have reduced greatly but still requested Sri Lankans to take precautions

Sri Lanka weighs favoured creditor clause to speed up debt talks with IMF

Sri Lanka is pursuing pacts with commercial and bilateral lenders to meet conditions for the IMF to disburse a $2.9 billion loan

Govt asks trade bodies, banks to explore more countries for trade in rupee

Having facilitated rupee trade with Russia, Mauritius and Sri Lanka, the government has asked trade bodies and banks to explore such opportunities with more nations, sources said. Indian banks have already opened special rupee vostro accounts (SRVA) with banks of these three nations, operationalising the rupee trade arrangement. Recently, SBI Mauritius Ltd and People's Bank of Sri Lanka opened an SRVA with State Bank of India (SBI). In addition, Bank of Ceylon opened an account in its Indian subsidiary in Chennai. Union Bank of India has opened special rupee account of Ros Bank Russia while Chennai-based Indian Bank has opened such accounts of three Sri Lankan banks, including Colombo-based NDB Bank and Seylan Bank. In all 18 such special rupee accounts have been opened by 11 banks, including 2 of Russia and one of Sri Lanka, following approval from the Reserve Bank of India (RBI). The RBI issued detailed guidelines on cross-border trade transactions in the domestic currency in ...

Lanka Premier League will boost economy, says tourism minister Fernando

Originally planned for August 2022, the much-awaited Lanka Premier League 2022 commenced on December 6. The league was postponed because of the economic and political turmoil in the island nation

Sri Lanka shuts schools as air quality deteriorates due to extreme weather

Schools across Sri Lanka were closed on Friday as health and environment officials said the air quality in most parts of the island nation was unhealthy partly due to extreme weather conditions. Polluted air from neighbouring India was aggravating the problem, authorities said, as a storm in the Bay of Bengal triggered heavy rains and winds across Sri Lanka in recent days. A haze hung over the capital, Colombo, and other parts of the country, with the level of fine particles in the air reaching unhealthy levels. The current pollution has arisen due to the combination of local air pollutants and transboundary air pollution, said the National Building Research Organisation, a state agency involved in environmental monitoring and risk management. This condition can be seen in all parts of Sri Lanka and it has a tendency to cause health problems, it added. Director General of Health Services Asela Gunawardena said the condition would continue for the next two weeks and he advised peop

Sri Lanka health ministry removes Covid curbs for international arrivals

Sri Lanka's Health Ministry on Wednesday said it has removed Covid-19 restrictions that were in place on for foreign arrivals

China donates another consignment of medical supplies to Sri Lanka

China has donated another consignment of medical supplies worth USD 54,19,100 to Sri Lanka as the island nation continues to overcome its worst hit economic crisis, the Chinese Embassy said here on Wednesday. With the latest consignment, which arrived in Sri Lanka on Tuesday, China has donated 5 billion rupees worth of medical supplies to Sri Lanka since the economic crisis the island nation in June. "The medicine worth 2 billion rupees arrived on Tuesday. China has donated 5 billion rupees worth of medicine to Sri Lanka since the economic crisis came to hit in June," the embassy said. The shipment of medical supplies was after this week's donation of 1000 metric tons of rice meant for students, the Embassy said. Sri Lanka and China are talking currently on debt restructuring. President Ranil Wickremesinghe said on Monday that talks were continuing with the Exim Bank of China on restructuring debt. Sri Lanka is nearly bankrupt and has suspended repaying its USD 51 billion forei

Coordinated assistance programme vital for SL's recovery from crisis

Wickremesinghe, who also holds the Finance portfolio, presented Sri Lanka's development programme associated with the economic recovery and growth

No point in economic reforms when we don't have an economy: Sri Lanka Prez

President Ranil Wickremesinghe has acknowledged that there was no point in economic reforms in Sri Lanka because the cash-starved island nation didn't have an economy, as he made a strong pitch for a new economic model. Sri Lanka is going through its worst economic crisis since its independence in 1948, triggered by a severe paucity of foreign exchange reserves. In mid-April, Sri Lanka declared its international debt default due to the forex crisis. Addressing the inaugural session of the Sri Lanka Economic Summit 2022 on Monday, Wickremesinghe said the country's beleaguered economy cannot be set right through outdated economic systems. As Sri Lanka's economy went into a perpetual tailspin in recent times, Wickremesinghe acknowledged that economic reforms were not the antidote for the current malaise. What is the plan for reform? Frankly, I have no plan for it. What reforms when we don't have an economy, the Daily Lanka Mirror newspaper quoted Wickremesinghe as saying. "What we w

Lanka to resume flights from Jaffna to India next week: Aviation ministry

Sri Lanka will resume flights from the northern Jaffna peninsula to Chennai by next week, a senior minister has said, a move that will help the cash-strapped country's tourism sector and provide a fillip to its beleaguered economy. The tourism sector is the main source of foreign exchange earnings for Sri Lanka. However, the onset of the pandemic in 2020 severely crippled the tourism sector and was one of the major reasons for Sri Lanka's economic travails. The island nation's earnings from international tourist arrivals for November touched USD 107.5 billion, with the cumulative tally in the first eleven months of the year notching up a whopping USD 1129.4 million, according to the Central Bank of Sri Lanka. "The flights to India from Palaly will resume soon, most probably by December 12," Sri Lanka's Aviation Minister Nimal Siripala de Silva told Parliament on Monday. Flights will be operational between Jaffna and Chennai, the minister said. "There are still some improvements t

NDDB, Amul to provide tech support to boost milk production in Sri Lanka

India will provide technical support to Sri Lanka to enhance its dairy industry and milk output, a move aimed at reducing the cash-strapped country's dependence on imported milk products, the Sri Lankan President's Office said on Monday. Officials of the National Dairy Development Board (NDDB) and the Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets milk under the Amul brand, have taken steps to provide necessary technical support for the production of milk in Sri Lanka, the President's Media Division said in a statement. A preliminary discussion was held on the issue at the Presidential Secretariat on Monday, it said. Sri Lankan President Ranil Wickremesinghe has also appointed a panel consisting of representatives from the public and private sectors to work with the multi-disciplinary team of the NDDB to prepare a short, medium and long-term plan to increase local milk production to reduce the country's dependence on imported milk powder, it said. During Monda

Sri Lanka earns over $1,129 mn this year as revenues through tourism

Sri Lanka's earnings from tourist arrivals stood at well over USD 1,129 million in the first eleven months of this year, the cash-strapped country's central bank has said, an impressive surge buoyed by the resumption in international flights and easing of curbs related to the coronavirus. The tourism sector is the main source of foreign exchange earnings in the country. However, the onset of the pandemic in 2020 severely crippled this sector, and one of the major reasons for Sri Lanka's economic travails. Sri Lanka welcomed 59,759 tourists to the country in November, an impressive 42 per cent rise compared to the previous month, the Central Bank of Sri Lanka said in a statement on Sunday. Consequently, the island nation's earnings from international tourist arrivals for November touched USD 107.5 billion, with the cumulative tally in the first ten months of the year notching up to a whopping USD 1129.4 million, it said. In October this year, the country had earned USD 75.6 million

Sri Lanka inflation dips marginally to 61% in November from 66% in Oct

Sri Lanka's key inflation rate dipped marginally to 61 per cent in November, down from 66 per cent in October, the country's statistics office said on Wednesday, as the crisis-hit economy showed signs of recovery. The 12-month inflation by the Colombo Consumer Price Index peaked at 69.8 per cent in September and the National Consumer Price Index peaked at 73.8 per cent. The consumer price index in Colombo eased to 61 per cent in November, marginally down from 66 per cent reported in October, the Census and Statistics Department said. This is the second straight month that the key inflation rate has eased this year. Central Bank Governor Nandalal Weerasinghe on Wednesday said the dipping inflation rate after peaking to 70 per cent was a good indicator that the economy was trudging along the path of recovery. The Central Bank of Sri Lanka has raised borrowing costs by 950 basis points this year, taking the key rate to 15.5 per cent to tame rising prices. Colombo seeks to secure the

Indian govt allows Lankans to hold $10,000 worth of rupee in cash

SL banks must open nostro accounts with Indian banks

China announces to provide free fuel to farmers, fishermen in Sri Lanka

Over 12,32,749 farmers will be provided with fuel and over 3,796 fishing vessels in Sri Lanka