News

IMF staff concludes visit to SL

Published

2 years ago

May 23, 2023

editor

An International Monetary Fund (IMF) mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to 23, 2023 to discuss recent economic developments and implementation of the Fund-supported program.

At the conclusion of the visit, Messrs. Breuer and Nozaki issued the following statement:

“During the visit, we discussed recent macroeconomic and financial sector developments. Following strong policy efforts, the macroeconomic situation in Sri Lanka is showing tentative signs of improvement, with inflation moderating, the exchange rate stabilizing, and the Central Bank rebuilding reserves buffers. However, the overall macroeconomic and policy environment remains challenging.

“We welcome the authorities’ ongoing efforts in meeting key commitments under the Fund-supported program. Performance under the program will be formally assessed in the context of the first review of the Extended Fund Facility arrangement, which is expected to be undertaken in September 2023. The mission discussed additional fiscal efforts that will be critical to ensure successful revenue mobilization. We also discussed progress on debt restructuring, noting the ongoing discussions with both foreign and domestic creditors. Achieving timely restructuring agreements with creditors in line with the program targets by the time of the first review is essential to restoring debt sustainability. Keeping up the reform momentum and ensuring timely implementation of program commitments, including to ensure central bank independence, improve governance, and protect the vulnerable, are key for Sri Lanka to emerge from the economic crisis.

“The team met with President and Minister of Finance Wickremesinghe, Governor Weerasinghe, Secretary to the Treasury Siriwardana, senior government officials, members of the opposition parties, CSOs, think tanks, trade unions, the private sector, and development partners. We would like to thank the authorities for the open and collaborative discussions and look forward to our continued close engagement.”

(imf.org)

News

Cost reflective price for MPs’ daily meals proposed

Published

2 hours ago

January 23, 2025

editor

Leader of the House Bimal Ratnayake said yesterday that a cost reflective price between Rs.2,500 and Rs.3,000 will be proposed for meals including breakfast, lunch and evening tea for Members of Parliament.

He stated that the proposal is scheduled to be presented to the House Keeping Committee of Parliament today and that a proposal will also be presented to the Cabinet in the future.

“MPs will have to pay Rs.3,000 for their meals including breakfast, lunch and evening tea. The price of meals for others will also be increased,” he added.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

News

Probe into clearing of 323 red-tagged containers – Dy. Minister

Published

2 hours ago

January 23, 2025

editor

Deputy Minister of Economic Development – Prof.Anil Jayantha Fernando yesterday (Jan. 22) admitted in Parliament that 323 containers with red tags have been released through the green channel by the Sri Lanka Customs.

In response to a question raised, the Deputy Minister said that an investigation will be launched into the incident.

He said there have been occasions where red-tagged containers have been released after being scanned and during some occasions, containers had been released through the green channel even without being scanned.

“We never know whether there have been investigations into those incidents,” he said.

(Excerpts : dailynews.lk)

News

Suspect arrested over alleged online train tickets racket

Published

3 hours ago

January 23, 2025

editor

The Kandy Divisional Crimes Unit has arrested a 37-year-old suspect involved in an alleged major racket involving ‘e-Tickets’ sold for up-country trains including to Ella.

According to the police, the suspect was arrested yesterday (Jan. 22) in the Suduhumpola area of the Kandy Police Division.

The suspect, a resident of the same area, was found in possession of 21 ‘Odyssey’ train tickets purchased online, Rs. 130,670 in cash believed to be proceeds from the illegal sales, 130 notepads documenting previous transactions, and a mobile phone.

Police suspect the individual profited from reselling train tickets, targeting foreign tourists. The suspect has been handed over to the Criminal Investigation Department (CID) for further inquiries.

On January 20, the CID had informed the Colombo Magistrate’s Court that they have launched an investigation into the ticket scalping, which was raising serious concerns.

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