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“Japan working hard to help SL to overcome economic crisis”

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Japan has reiterated that it is working hard to help Sri Lanka overcome the economic crisis.

During an interview with the Reuters News Agency, Vice Minister of Finance for International Affairs of Japan Masato Kanda has said Japan is working hard to help Sri Lanka, which is suffering its deepest economic crisis in 70 years, by coordinating with the Paris Club of creditor nations and the International Monetary Fund to ensure the participation of China and India in efforts to restructure the debt.

Referring to a Group of 20 mechanism designed to provide a swift and comprehensive debt restructuring for nations facing difficulty meeting debt obligations after the COVID-19 shock to their economies, Vice Minister Masato Kanda said, “It is desirable to work with these non-Paris Club countries in the same way with the Common Framework.”

“If this is realised, it would pave the way to carry out debt restructuring for other middle-income countries,” he has added.

The Vice Minister has stressed that crisis-hit Sri Lanka was a key issue when it came to helping countries in debt but he was not sure when creditors aiming to extend its loans would meet.

Meanwhile, Vice Minister Masato Kanda said Japan, as this year’s Group of Seven (G7) chair, expects Russia’s invasion of Ukraine to dominate talks this year among the world’s major advanced economies.

(Source : Reuters)

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CBSL appoints two New Deputy Governors

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The Central Bank of Sri Lanka (CBSL) has appointed two new Deputy Governors, effective this week. 

Assistant Governor and Secretary to the Governing Board A.A.M. Thassim has been appointed as Deputy Governor starting June 20, while Assistant Governor J.P.R. Karunaratne will assume his new role on June 24.

These appointments were made by the Minister of Finance, following recommendations from the CBSL Governing Board, in accordance with the Central Bank of Sri Lanka Act, No. 16 of 2023.

Mr. Thassim brings over 31 years of experience at CBSL, having worked in various areas including Banking Supervision and Regulation, International Operations, and Risk Management. He has also been part of several high-level committees on monetary policy and financial stability.

Mr. Karunaratne, with over 33 years at CBSL, has extensive experience in the supervision and regulation of financial institutions, currency management, and public debt. He has significantly contributed to strengthening the legal framework and consolidation of the Non-Bank Financial Institutions sector.

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UK rejects TGTE appeal to lift LTTE proscription

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The UK Proscribed Organisations Appeals Commission has rejected an appeal by the Transitional Government of Tamil Eelam (TGTE) to lift the proscription on the Liberation Tigers of Tamil Eelam (LTTE) as a terrorist organisation in Britain.

Sri Lanka’s Minister of Foreign Affairs, Ali Sabry, confirmed that the UK will continue to maintain the proscription on the LTTE. Announcing this on ‘X’ (formerly Twitter), Sabry noted that the independent court, headed by a high court judge and two retired senior diplomats, ruled against de-proscribing the LTTE.

The TGTE, which supports the creation of an independent Tamil state in north-east Sri Lanka, had appealed to the UK to lift its ban on the LTTE. However, the TGTE itself is not proscribed in the UK as it seeks to achieve its political and ideological objectives through non-violent means.

Sabry further stated, “The LTTE international network’s approach and strategy is to get foreign governments to de-proscribe the LTTE so that they could revive the LTTE.”

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Thai PM justifies frequent international trips, including a visit to Sri Lanka

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Thailand’s Prime Minister Srettha Thavisin defended his frequent globe-trotting during his first 10 months as leader of the Southeast Asian nation, in remarks aired in a television broadcast on Saturday.

A real estate tycoon and political newcomer who became prime minister in August last year, Srettha made 15 overseas visits and pledged a two-month halt in March in response to public criticism.

“Some of these visits are not avoidable,” he said, referring to those for official meetings of the Association of Southeast Asian Nations (ASEAN), as well as to China and Japan, while a third was to Sri Lanka to sign a free trade pact.

Other visits aimed to draw trade and investment, said Srettha, nicknamed Thailand’s salesman, who has often spoken of his goal of luring more foreign investment to the country.

“It’s necessary to go,” he said in the remarks recorded in advance.

Source: Reuters

–Agencies

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