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Japanese Finance Minister notes significant improvements in SL economy

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During a discussion with President Ranil Wickremesinghe yesterday (11), Japanese Finance Minister Suzuki Shunichi, expressed profound admiration for President Ranil Wickremesinghe.

He specifically mentioned positive trends in GDP and inflation indicators, attributing the progress to the President’s strong leadership. The minister conveyed deep respect for President Wickremesinghe’s demonstrated leadership in achieving these economic improvements.

Shunichi highlighted substantial improvements in the country’s economy, particularly emphasizing positive trends in GDP and inflation indicators. He credited these advancements to President Wickremesinghe’s strong leadership, expressing deep respect for the demonstrated qualities that contributed to significant economic progress in Sri Lanka.

Japan’s Finance Minister, Suzuki Shunichi, arrived in Sri Lanka on a two-day official visit (11-12) aimed at deepening economic relations with the Sri Lankan Government. This visit is particularly significant amidst the economic challenges faced by Sri Lanka, prompting the implementation of comprehensive reform measures focusing on macro stability and debt sustainability.

The President expressed profound appreciation for Japan’s lead role in addressing Sri Lanka’s debt issues. The talks encompassed future collaborations, emphasizing areas such as information-technological cooperation, maritime-security collaboration, resumption of stalled projects, long-term bilateral cooperation, finalization of debt restructuring agreements and pipeline projects.

Both leaders expressed mutual appreciation for the ongoing support and cooperation between their nations.

President Wickremesinghe conveyed his gratitude, emphasizing Japan’s crucial role in Sri Lanka’s current standing. Acknowledging the swift resolution of recent challenges, he expressed confidence in the deepening ties between the two nations.

Reflecting on the cooperation, President Wickremesinghe highlighted the need for further collaboration, particularly in the realms of a competitive green economy and a digital economy. Stressing the importance of focusing on exports to enhance the trade balance, he expressed optimism for the realization of a new economic model in Sri Lanka.

President Wickremesinghe concluded by affirming his commitment to fostering closer ties between the two countries, laying the groundwork for future cooperation.

In response, the Japanese Finance Minister expressed gratitude for President Wickremesinghe’s update and emphasized the value of transparent and comparable debt restructuring. 

Addressing the recent suspension of yen loans due to a debt crisis, Minister Suzuki Shunichi outlined the potential resumption of yen loans pending the conclusion of a MoU at the Official Creditor Committee (OCC) and continued debt sustainability monitored by the IMF.

The discussions between the two leaders aim to fortify ties and lay the groundwork for a more robust and cooperative economic relationship between Japan and Sri Lanka.

(President’s Media Division)

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President calls for unified environment, climate change law

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President Ranil Wickremesinghe emphasized on-going efforts to enact unified legislation addressing environmental protection and climate change. He highlighted the government’s commitment to crafting economic policies geared not only towards fostering export-oriented competitiveness but also towards transitioning to a green economy, aiming to achieve net-zero by 2050. 

Acknowledging the recent prolonged spells of extreme climate conditions as indicative of future climate change impacts, the President stressed the urgency of addressing climate mitigation measures promptly. 
He made these remarks while addressing the inaugural session of the Sri Lanka Climate Summit which commenced yesterday (07) at the Shangri-La, Colombo.

The inaugural Sri Lankan Climate Change Conference, hosted by the Sri Lanka Chamber of Commerce, commenced yesterday under the theme “Climate Action for our Nation and the Planet.” Scheduled to run until May 09, the summit aims to foster a comprehensive understanding of the multifaceted climate crisis, both from a global and national standpoint. It seeks to assess potential disruptions to critical sectors of the economy and deliberate on policy reforms necessary for transitioning towards a low-emission, climate-resilient economic framework.

During his address, President Wickremesinghe highlighted the nation’s proactive approach to combating climate change. He announced the establishment of a dedicated climate change centre in Sri Lanka and his instructions to the officials to model legislation based on the United Kingdom’s Climate Act, endorsed by global financial institutions. The President emphasized the significance of Sri Lanka’s role in addressing climate change, particularly within the Indian Ocean and the tropical belt and outlined plans for the International Climate Change University to be established in the country.

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2100 Grama Niladhari officers given appointments

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President Ranil Wickremesinghe stressed that the enhancement of the rural economy pivots on agricultural advancement. He highlighted the pivotal role of dedicated government officials at the grassroots level in ensuring the success of various government initiatives aimed at rural development, notably the agricultural modernization program. 

The President made these remarks during his address at the ceremony held at the Temple Trees today (08), where 2100 new Grama Niladhari officers were awarded appointment letters.

Following the Grama Niladhari Service Examination held by the Department of Examinations on 02nd December, 2023, 2100 candidates with the highest scores at the Divisional Secretariat Divisional Level were granted Grama Niladhari positions. 

President Ranil Wickremesinghe participated symbolically in distributing the appointment letters. He briefed the new GN Officers on government initiatives like “Aswesuma” and “Urumaya”, aimed at uplifting low-income individuals, urging them to actively engage in these programs for the economic development of their communities.

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CoPF summons Public Security Secretary & Immigration CG

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The Committee of Public Finance (CoPF) has summoned the Secretary of the Public Security ministry and the Controller General of Immigration tomorrow (May 09) for a ‘balanced inquiry in to the ongoing visa fiasco’, the CoPF Chairman – Dr. Harsha de Silva has said.

“While it is customary for all public finance related legislation be routed through COPF, this strangely was not,” he has added on X.

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