Sri Lanka has been granted $1.34 billion in loans from the World Bank announced the government’s finance ministry, as it looks to stabilise the island’s struggling economy. "This is a great victory for us and it will help us in the fiscal consolidation programme that the new government has started," said Sri Lanka’s Finance Minister Ravi Karunanayake. The move will see loans spread out over 15 years, reports AFP . The loans will add to the government’s debt situation, which has reportedly seen over 95% of all government revenue is spent on repaying loans, It comes after Moody's Investors...
The commander of the Sri Lankan security forces in Jaffna met with senior Sinhala Buddhists monks from the South in Jaffna this month, to discuss “reconciliation”. The military’s official website said that amongst those present at the meeting were the Chief Prelate of the Western Province, the Director of Vidyodaya Pirivena, the former Vice Chancellor Buddhist and Pali University of Colombo, the Editor in Chief of the Sinhala Dictionary and other senior Sinhala Buddhist figures. The Sri Lankan military “briefed them about present situation of Jaffna peninsula” said the website and “they...
A group of Sri Lankan police officers have been held on remand over the murder of two Tamil students earlier this year. The five policemen have been remanded until the 30th of December following a court order by the Jaffna additional magistrate. The two students, 23 year old Nadarasa Kajan and 24 year old Pavunraj Sulaxan, were shot dead on the 20th of October.
Batticaloa Chief Buddhist Monk, Ampitiye Sumanarathana, was released on bail after being charged for gathering people in a manner that disrupted law and order. On December 3rd he led a group that insisted on letting a bus full of Bodhu Sala Sena (BBS) monks from the south into Batticaloa. Sumanarathana climbed on top of police barriers and recited hate speech against Tamils and Muslims. “I shout at my Tamil and Muslim brothers not because that I harbour anger against them, but just as a part of an ordinary confrontation. But we become friends again. I am the Batticaloa monk and I am not...
The leader of the TMVP, Sivanesadurai Chandrakanthan (commonly known as Pillaiyan) along with three party members, have been re-remanded over the murder of Joseph Pararajasingam in 2005. Pararajasingam was the Batticaloa district parliamentarian and member of the current opposition, the Tamil National Alliance. He was shot dead on Christmas Day at St. Mary’s Cathedral in Batticaloa. See more from Ceylon News here.
Sri Lankan Prime Minister Ranil Wickremesinghe thanked navy commander Vice Admiral Ravindra Wijegunaratne for breaking up a protest in the weekend and 'rescuing' two ships that were boarded by demonstrators.
The Tamil National Alliance (TNA) stated that it was keen to engage in talks with the international community, and India in particular, over Sri Lanka's proposed new constitution, reports the Daily Mirror. TNA deputy leader and head of the Ilankai Tamil Arachi Katchchi (ITAK) Mavai Senathirajah said that though talks had not yet been scheduled, his party was keen on a federal solution to the island's long running ethnic conflict. “Even in my latest speech in parliament I stressed the need to devolve even financial matters to the North,” he said.
Sri Lanka, along with Malaysia and Mongolia, is most vulnerable to direct and indirect effects of sustained capital outflows, Moody's Investors Service said in its report published this week on sovereign risk. Pointing to high debt levels in a number of Asian countries, the credit ratings agency said, "if they last more than a few weeks, capital outflows or lower inflows will correspond to a tightening in domestic financing conditions for many Asian countries." "For some, [it] could exacerbate difficulties in meeting their current account and external debt payment obligations." "In most of...
The former head of the Sri Lankan military, Minister Sarath Fonseka on Tuesday rejected news reports earlier this month that the navy commander had assaulted a journalist in Hambantota, claiming instead the navy commander had pushed the journalist away from a security circle. “It was reported in the media that the navy commander had arrived at the scene with a dress meant for sports. But it was a uniform worn by marine pilots. We have only two marine pilots in the Navy and the Navy Commander is one of them,” Mr Fonseka said at a press conference . “The Navy’s Special Boat Squadron (SBS) had...
Sri Lankan President Maithripala Sirisena said his government would use growing international relations to help strengthen the military, in a speech made this week. Addressing a military graduation ceremony on Monday, Mr Sirisena praised the “that knowledge, bravery, talent, skill and militancy shown by the military forces immensely helped to defeat the ruthless terrorist organization”. He went on to add that his government “offer its fullest support to military forces to enhance their knowledge and skills”. Mr Sirisena also acknowledged how his government has manged to rebuild relations with...