Multi-Sectoral National Action Plan to address Sexual and Gender-Based Violence 2024-2028 was approved by the cabinet of Sri Lanka. The National Action Plan ( NAP) consists of 13 main sectors with 5 sub sectors, namely Gender Empowerment, Child Affairs, Social Protection & Welfare, Education (General Education, Higher Education, Vocational and Technical Education & Training), Health…
Despite accusations from social media and opposition parties alleging government inaction against former State Minister Diana Gamage, prosecutors have sought the Attorney General’s instructions to frame charges. The Colombo Chief Magistrate’s Court heard six cases against Gamage yesterday (11th) for violating immigration laws. The cases, filed by the Criminal Investigation Department (CID), highlight the complexity…
Chethana Gomis Sri Lanka has objected to India’s proposal to explore cobalt deposits in the Indian Ocean. Thus, our country had objected to India’s recent proposal to obtain the necessary right to explore a cobalt deposit that may belong to the jurisdiction of Sri Lanka. Colombo argues that the area India wants to explore for…
Harsha Gunasena Ahilan Kadirgamar (hereinafter referred to as AK), whose colourful academic credentials i.e., bachelor’s degree in electrical engineering, master’s in economics and a doctorate in anthropology would impress anyone, has written an article titled “Kenya to Sri Lanka: Protests, IMF and High Ambition” to the Daily Mirror published on July 1, 2024 (https://www.dailymirror.lk/opinion/Kenya-to-Sri-Lanka-Protests-IMF-and-high-ambition/172-286106). I…
The second phase of the “Aswesuma” welfare benefit program will begin data collection from July 15 to 30, as announced by the Welfare Benefits Board. Following the successful qualification of over 1.8 million individuals in the first phase, an additional 450,924 applications have been received for the second phase. The identification process to determine eligible…
The government has decided to impose taxes on 14 additional sectors, announced State Minister of Finance, Dr. Ranjith Siyambalapitiya. Among these sectors are large-scale private tutoring classes, private schools, private medical service centers, engineering service centers, and mining services. State Minister Siyambalapitiya stated that the Inland Revenue Department will conduct thorough investigations into the income…
Sri Lanka’s government debt stock has seen a notable reduction of 2.76%, amounting to Rs 803.2 billion, as of April 30, 2024. This decrease brings the total debt from Rs 29,150.4 billion on December 31, 2023, down to Rs 28,347.2 billion. A significant reduction was observed in the foreign debt stock, which fell by 9.2%…
Chethana Gomis Extending the principal loan repayment grace period till 2028 will save the country $500 crores. Sri Lanka has also concluded a debt restructuring agreement with International Sovereign Bondholders. Sri Lankan foreign debt amounts to USD 37 billion, comprising USD 10.6 billion in bilateral debt. Regarding accusations from many parties that the Government has…
On June 3, 2024, Sri Lanka reached a groundbreaking agreement with its private creditors to restructure its debt, becoming the first country to utilize a Governance-Linked Bond (GLB). This innovative financial instrument was designed by Verité Research in Colombo. The Verité-GLB adjusts repayments based on the country’s achievement of mutually agreed governance benchmarks. If these…
1. Introduction Context: Restoring economic stability post debt default in 2022. Recent Achievement: Agreement with official creditors on loan repayment. Communication: National address and consistent updates to Parliament. 2. Four-Step Economic Plan IMF Extended Credit Facilities: Establish financial discipline. Debt Stabilization Plan: Collaboration with Lazard and Clifford Chance. Economic Policies: Secure foreign investment and promote…
