Recovering from the challenging situation that the country is currently facing, requires a significant emphasis on the accountability of public officials in matters such as financial control, anti-corruption measures, and adherence to the rule of law, pointed out Senior Adviser to the President on National Security and Chief of the Presidential Staff – Mr. Sagala Ratnayake.
Mr. Ratnayake said this during a discussion held yesterday (20) at the Ministry of Finance Auditorium with representatives of the International Monetary Fund (IMF) and Heads of Government institutions.
During the meeting, the representatives of the International Monetary Fund appreciated the Sri Lankan Government’s efforts in addressing the existing problem and properly assessing the current situation. They also emphasized the significance of working with dedication in financial management and implementing new economic reforms.
The representatives stressed that it is crucial to prioritize new reform programs rather than dwelling on past mistakes. They also highlighted the importance of exploring the support that the International Monetary Fund can offer to address the challenges in various fields and to prioritize reform efforts accordingly.
Mr. Mahinda Siriwardana, the Secretary of the Ministry of Finance, emphasized the crucial role of new economic reforms in propelling the country forward. He stated that public financial reforms and other related areas will be prioritized to effectively address the issues in the financial management sector.
During the meeting, the Heads of Government institutions involved in the process shared their perspectives.
Mr. Sagala Ratnayake reiterated the significance of convening such meetings in the future to monitor the progress of relevant programs and obtain reports. He stressed the need for the commitment of all Heads of government institutions to ensure the success of these activities.
The meeting was attended by representatives of the International Monetary Fund, the Governor of the Central Bank Dr. Nandalal Weerasinghe, as well as secretaries of ministries, Heads of Government institutions, and other officials.
Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in the Nuwara-Eliya, Kandy, Galle and Matara districts today (July 02), the Department of Meteorology said.
A few showers may occur in the Jaffna and Mannar districts.
Fairly strong winds of about 30-40kmph can be expected at times over the Western slopes of the central hills and in the Northern, North-central and North-western provinces and in the Trincomalee and Hambantota districts.
The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.
This brings the total IMF financial support disbursed so far to about US$1.74 billion.
“The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.”
Minister of Transport and Highways Bimal Rathnayake has said that Cabinet approval has been granted to implement an islandwide online traffic fine payment system.
He made this statement during a media briefing near the Kottawa Expressway entrance, following a public awareness programme on mandatory seat belt use for vehicles travelling on expressways.
“The Cabinet approved the proposal today. At present, the online fine payment system is available only between Kurunegala and Anuradhapura. Now, we’re providing all police units with mobile devices, so that from this year, traffic fines can be paid from anywhere via mobile phones… Rather than paying fines, we urge everyone to drive carefully, wear seat belts, and avoid violations. Our core message is simple, travel safely,” the minister has said.