Tag: Lanka

  • Will Lankan spinners trouble Pakistan in Asia Cup final?

    Will Lankan spinners trouble Pakistan in Asia Cup final?

    Sri Lanka, in their 11th final in this tournament, are aiming to take their Asia Cup title tally to 6 while Pakistan is looking to add their third to the trophy cabinet…reports Asian Lite News

    Sri Lanka and Pakistan, who began their campaign with losses and later made remarkable comebacks, will take the field for the last time in the tournament, with an aim to win a well-contested Asia Cup 2022 title at the Dubai International Cricket Stadium, here on Sunday.

    Sri Lanka, who came to the tournament after a socio-economic crisis and turmoil in their country, suffered an eight-wicket loss against Afghanistan in their opening game. However, since then, the Dasun Shanaka-led side haven’t lost a game and are on a four-match winning streak.

    On the other hand, Pakistan had lost a close game against their arch-rivals in their campaign opener. However, they also won the crucial games and managed to reach the finals.

    Sri Lanka, in their 11th final in this tournament, are aiming to take their Asia Cup title tally to 6 while Pakistan are looking to add their third to the trophy cabinet.

    Before the all-important final, both teams faced each other in a Super Four game on Friday where Sri Lanka beat Pakistan by five wickets. It was a kind of dress rehearsal before the summit clash and they must have gotten a glimpse into each other’s strengths and weaknesses.

    In the final, Pakistan will look to improve their batting effort against Sri Lanka’s spin potency. The top-six of Babar Azam-led team folded at less than 120 against spinners in T20Is since 2021 so the spin department led by Wanindu Hasaranga could define Sri Lanka’s fate in this fixture.

    Pakistan batters clearly struggled against Sri Lanka spinners on Friday. Even part-timer Dhananjaya de Silva had them on strings, finishing with a spell of 1 for 18 in which he didn’t concede a single four.

    Pakistan have also repeatedly lost momentum in the post-PowerPlay phase of 7 to 10 overs — a phase that Sri Lanka spinners could look to maximise. Also, they have tried different combinations in batting during the middle overs, which haven’t allowed anyone to master the specific role.

    So, Shadab Khan, who was tidy with the bat at No. 5 in the thriller against Afghanistan, could once again counter Sri Lanka’s spin threat.

    The bowling line-up have been Pakistan’s strength in the ongoing tournament despite the absence of a few key fast bowlers. Naseem Shah and Shadab Khan, who were rested on Friday, should return to Pakistan eleven for the final.

    On the other hand, the toss could be an important factor for Sri Lanka. They have had the advantage of bowling first in each of their four victories, so the flip of fortunes at the toss could come as a stern test.

    Apart from their spin bowling, Sri Lanka also has had solid contributions from their top-five batters. Openers Kusal Mendis and Pathum Nissanka have given positive starts at the top while the likes of Danushka Gunathilaka, Bhanuka Rajapaksa, Shanaka himself and Chamikaatne Karunaratne have all made runs when they mattered the most.

    Sri Lanka and Pakistan have met in three Asia Cup finals — the former won in 1986 and 2014 while the latter emerged victorious in 2000. This will be Sri Lanka’s 11th Asia Cup final — the most for a team. So, overall, a spicy and exciting contest awaits fans on Sunday.

    Teams:

    Sri Lanka: Dasun Shanaka (c), Danushka Gunathilaka, Pathum Nissanka, Kusal Mendis, Charith Asalanka, Bhanuka Rajapaksa, Ashen Bandara, Dhananjaya de Silva, Wanindu Hasaranga, Maheesh Theekshana, Jeffrey Vandersay, Praveen Jayawickrama, Chamika Karunaratne, Dilshan Madushanka, Matheesha Pathirana, Nuwanidu Fernando and Dinesh Chandimal

    Pakistan: Babar Azam (c), Shadab Khan, Asif Ali, Fakhar Zaman, Haider Ali, Haris Rauf, Iftikhar Ahmed, Khushdil Shah, Mohammad Nawaz, Mohammad Rizwan, Naseem Shah, Shahnawaz Dahani, Usman Qadir, Mohammed Hasnain, Hasan Ali

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  • Queen was symbol of stability, says Lankan president

    Queen was symbol of stability, says Lankan president

    Wickremesinghe tweeted Friday September 09 morning that he was saddened to learn of the queen’s passing…reports Asian Lite News

    Queen Elizabeth II was a symbol of stability and endurance and will be greatly missed, Sri Lanka President Ranil Wickremesinghe said in a condolence message.

    Wickremesinghe tweeted Friday September 09 morning that he was saddened to learn of the queen’s passing.

    In an earlier statement, the president’s media division said as a mark of respect on the passing of the queen, who was the Head of the Commonwealth and Queen of Ceylon 1952-72, the Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government has been instructed that the National flag be flown at half mast in all public buildings on Friday.

    Meanwhile, Sri Lanka’s parliament also observed a two-minute silence before it began proceedings on Friday.

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  • UN urges progress on Lankan institutional reforms

    UN urges progress on Lankan institutional reforms

    The UN report calls on the Government to immediately end the reliance on draconian security laws and crackdowns on peaceful protest…reports Asian Lite News

    Sri Lanka’s new Government should embark on a national dialogue to advance human rights and reconciliation, a UN report urged on Tuesday, calling for accountability and deeper institutional reforms to prevent a recurrence of past violations.

    According to the UN Human Rights Office of the High Commissioner (OHCHR), the report acknowledges that Sri Lanka is at a critical juncture in its political life, and is in the midst of a serious economic crisis which has severely impacted the human rights of all communities and people of all walks of life. This has spurred broad-based demands by Sri Lankans from all communities for deeper reforms and accountability, and gives the Government a fresh opportunity to steer the country on a new path.

    For sustainable improvements to take place, however, it is vital to recognise and address the underlying factors which have contributed to the economic crisis, including embedded impunity for past and present human rights violations, economic crimes and endemic corruption, OHCHR said.

    “Fundamental changes will be required to address the current challenges and to avoid repetition of the human rights violations of the past,” said a report of the High Commissioner for Human Rights.

    The report calls on the Government to immediately end the reliance on draconian security laws and crackdowns on peaceful protest, reverse the drift towards militarisation and show renewed commitment to, and deliver on, security sector reform and ending impunity.

    While the security forces recently showed considerable restraint in response to mass protests, the Government has since taken a harder line approach, arresting some student leaders under the Prevention of Terrorism Act and violently suppressing peaceful protests. A heavily militarised environment and surveillance culture also continue in the north and east of the country.

    The report urged the new Government to re-launch a victim-centred strategy on transitional justice and accountability, with a time-bound plan to implement outstanding commitments, including taking steps in relation to the establishment of a credible truth-seeking mechanism and an ad hoc special court.

    Expressing concern about the lack of progress to establish the truth about the Easter Sunday bombings in 2019, the report also calls for a follow-up independent and transparent investigation, with international assistance and the full participation of victims and their representatives, to pursue further lines of inquiry.

    “The Sri Lankan State, including through successive governments, has consistently failed to pursue an effective transitional justice process to hold perpetrators of gross human rights violations and abuses accountable and uphold victims’ rights to truth, justice and reparations,” the report states.

    “Rather, they have created political obstacles to accountability, and actively promoted and incorporated some military officials credibly implicated in alleged war crimes into the highest levels of government.”

    In the absence of progress towards accountability at the national level, the report urges other States to cooperate in accountability efforts, including by using available avenues of extraterritorial and universal jurisdiction, to investigate and prosecute crimes under international law committed in Sri Lanka.

    Additionally, the report urges States to explore further measures targeting those who are credibly alleged to have been responsible for gross violations and abuses of international human rights law or serious violations of international humanitarian law.

    The report outlined the progress of the OHCHR work on accountability, pursuant to Council resolution 46/1, and calls for reinforcement of its capacity.

    Lanka’s weak regulatory frameworks

    As the debt crisis continues to grip the island nation of Sri Lanka, the root cause of problems behind the loans lent by China are weak regulatory frameworks in the country and weak circumspection exercised by politicians and public officials in making decisions, a research media release said.

    Media reports partly blame China and its lending practices, for Sri Lanka’s debt crisis, said a Verite Research media release.

    It said: The publication titled: “The Lure of Chinese Loans: Sri Lanka’s experiment with a special framework to finance its infrastructure” sheds light on the perils of creating frameworks to facilitate deviations from competitive bidding to tap into concessional export credit from emerging economies such as China, Sri Lanka local daily The Island reported citing the release.

    Moreover, the report highlighted that the underlying causes of problems associated with loans taken to finance infrastructure are weak regulatory frameworks in the country and that fixing the country’s procurement regulatory framework and improving independent oversight of the procurement process is essential to prevent irresponsible borrowing, cost overruns, and poor project selection.

    In 2010, Sri Lanka introduced a framework that allowed the cabinet to approve the processing of projects that originated as Unsolicited Proposals (USPs) outside the normal competitive bidding process, the Island Mirror revealed quoting the report.

    The report also analysed the design and execution of the special framework and found out that the lack of rigour in the evaluation process and the ability of decision-makers to exercise excessive discretion made the framework highly prone to abuse and misuse. The analysis of the Gampaha, Attanagalla, and Minuwangoda Water Supply Project (GAMWS), approved by SCARC, demonstrated the weaknesses of the special framework in practice. The project originated as a USP from China Machinery Engineering Corporation (CMEC) and was awarded to the same company despite having little experience and expertise in similar water projects.

    The period of 2010-2016 can be considered the golden era for financing from China, with Sri Lanka receiving USD 5,895 million in loans from China. Over half of these loans (53pc) were realised through projects that were approved by SCARC.

    The report’s analysis further revealed inadequacies in the oversight processes to detect and prevent malpractices and lack of accountability emerged as a key factor in contributing to the recurrence of such problems.

    Keeping in mind the fragility of Sri Lanka as a smaller country, the Chinese government cultivated relations with the Rajapaksa family by offering expensive vanity projects earlier. Some of the projects are Mattala Rajapaksa International Airport in southern Sri Lanka, which was principally funded by a high interest loan from a Chinese bank and has operated at a loss since it opened. Moreover, under the Belt and Road Initiative (BRI), Chinese investment skyrocketed in the island nation. (ANI)

    ALSO READ: Panel appointed to repatriate Lankan refugees from India

  • 65 killed as earth quake hits China’s Sichuan

    65 killed as earth quake hits China’s Sichuan

    As per the Ministry of Transport, over 350 people have been stranded on Luding-Shimian Expressway, comprising 336 construction workers and 20 managers…reports Asian Lite News

    The strong 6.8 magnitude earthquake that hit the Sichuan province in China on Monday has so far claimed 65 lives while leaving 248 people injured and 12 missing, local media reported on Tuesday.

    According to China Earthquake Networks Center, a total of 10 aftershocks of 3.0-magnitude or above have been recorded, including one earthquake of 4.0 to 4.9 magnitude, nine earthquakes of 3.0 to 3.9 magnitude, and the largest aftershocks of 4.2 magnitudes so far.

    Among 65 deaths, 37 are in Garze Tibetan Autonomous Prefecture, where Luding county is located and 28 in Ya’an city, as of 7:00 am on Tuesday and more than 50,000 people have relocated, the Global Times reported.

    As per the Ministry of Transport, over 350 people have been stranded on Luding-Shimian Expressway, comprising 336 construction workers and 20 managers.

    Expressway tollbooths opened up over 700 special channels for earthquake relief. All service areas along the Chengdu-Luding Expressway have been fully stocked with epidemic prevention supplies, oil products, food materials and other emergency supplies.

    More than 1,900 officers, armed police and soldiers of the People’s Liberation Army PLA Western Theater Command rushed to the earthquake-hit area and arrived at the epicentre area at 8 am on Tuesday, engaging in the transport of the injured, road dredging, victim search and other rescue work, Global Times reported.

    As a result of the earthquake, the power supply in the province was cut off, however, State Grid Sichuan Electric Power Company said that nearly 22,000 households in the earthquake-stricken area have been restored after overnight emergency repair.

    Chinese President Xi Jinping requested for all-out relief efforts to prioritise saving lives and minimizing casualties after a 6.8-magnitude earthquake jolted Luding county, Global Times reported.

    China’s Red Cross Society has initiated a Level-III emergency response, with the first batch of relief materials consisting of 320 tents, 2,200 relief packages, 1,200 quilts and 300 folding beds dispatched to the affected area.

    The Red Cross has also sent a working group there to help with the relief and rescue work.

    Sichuan province has activated the second-highest level of emergency response for the earthquake and more rescue forces are rushing to the epicentre area.

    The earthquake jolted Luding County at 12:52 p.m. Monday (Beijing Time), according to the China Earthquake Networks Center (CENC).

    The epicentre was monitored at 29.59 degrees north latitude and 102.08 degrees east longitude, at a depth of 16 km, the CENC said.

    The epicentre is 39 km away from the county seat of Luding and there are several villages within the 5-km range around the epicentre. The tremor was felt in Chengdu, capital of Sichuan, which is 226 km away from the epicentre.

    The quake was felt around 200 kilometres (125 miles) away in the provincial capital, Chengdu, where a COVID-19 outbreak has restricted most of its 21 million residents to their compounds under China’s strict “zero-COVID” policy. (ANI)

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  • Panel appointed to repatriate Lankan refugees from India

    Panel appointed to repatriate Lankan refugees from India

    According to the records of India’s Home Ministry, as of 2021, 58,843 Sri Lankans have been residing in 108 refugee camps in Tamil Nadu. …reports Susitha Fernando

    President Ranil Wickremesinghe’s Office on Monday appointed a committee to facilitate the repatriation of Sri Lankan refugees who fled to India specially during the 26-year-long ethnic conflict.

    President’s Secretary Saman Ekanayake appointed the committee to efficiently carry out the repatriation of minority Tamils from the war-ravaged northern Sri Lanka. The committee had been appointed on the request of the Organisation for Eelam Refugees Rehabilitation (OFERR), to bring back the Sri Lankans who have gone to India as refugees due to the war.

    “It was stated that about 58,000 Sri Lankans are currently residing in Tamil Nadu, India as refugees and only 3,800 of them are ready to return to Sri Lanka at present,” the President’s Office stated.

    According to the records of India’s Home Ministry, as of 2021, 58,843 Sri Lankans have been residing in 108 refugee camps in Tamil Nadu. However there were around 34,000 Lankan refugees, registered with the state authorities, living outside the camps.

    The Sri Lanka Deputy High Commissioner’s Office in Chennai is coordinating the move while representatives of Sri Lanka’s Department of Immigration and Emigration, the Justice Ministry, the Foreign Affairs Ministry and officials of the Registrar General’s Department are in the committee.

    Since the civil war broke in early 1980s, Tamils, the largest ethnic minority in the island nation, accounting for about 12 per cent of the population have been fleeing to South India in search of protection and security.

    Unable to bear the ongoing financial crisis in the island nation, a large number of Tamils from northern Sri Lanka also left for Tamil Nadu recently. With historical, cultural and religious links over the years, Tamil in Sri Lanka and India maintain close ties.

    ALSO READ: Sri Lanka wants Chinese fertiliser firm blacklisted

  • Sri Lanka wants Chinese fertiliser firm blacklisted

    Sri Lanka wants Chinese fertiliser firm blacklisted

    The Chinese embassy in Colombo jumped into the argument and to put pressure on Colombo, blacklisted the People’s Bank of Sri Lanka for not releasing money to Qingdao…writes Rahul Kumar

    An audit report by the National Audit Office of the Sri Lankan government has recommended that the Chinese fertiliser company Qingdao Seawin Biotech Company (QSBC) should be blacklisted for trying to force Sri Lanka to accept contaminated fertiliser in 2021.

    The audit report also says that the government should take compensation of $6.9 million from the Chinese company for trying to force the country to take fertiliser that had been rejected by Sri Lankan scientists for containing harmful bacteria.

    The audit report also calls for prosecuting officials who were responsible for signing the transaction for fertiliser that eventually remained unsupplied but not before putting the government under undue pressure from China, says a report in The Sunday Times.

    India Narrative had widely reported on the spat between strategic allies Sri Lanka and China over the non-acceptance of contaminated fertiliser sent by Qingdao to Sri Lanka. Upon inspection of the fertiliser, Sri Lankan scientists found harmful pathogens in the fertiliser, which was being transported by the ship Hippo Spirit.

    The Chinese embassy in Colombo jumped into the argument and to put pressure on Colombo, blacklisted the People’s Bank of Sri Lanka for not releasing money to Qingdao.

    Amidst a raging quarrel between the two countries, the ship generated more controversy. After the rejection of the fertiliser, the ship ostensibly returned back to bring a fresh consignment of fertiliser. However, it cast anchor at Malacca Strait, near Singapore and switched off its automatic identification system. It did not go back to China with the contaminated fertiliser and instead came back to Sri Lanka under a new name Seiyo Explorer.

    The dispute lingered on for months as China kept piling up pressure on Colombo to accept the rejected fertiliser. Eventually, the Chinese company came up with a two-fold solution to supply Sri Lanka with fresh fertiliser-that it will pursue international arbitration against Sri Lanka for sullying its reputation, and that the island nation will have to pay double the cost of the new fertiliser.

    By this time the island nation had turned to India for its organic fertiliser needs.

    The fertiliser pow-vow that continued from around August 2021 lasted till February 2022 causing much diplomatic damage between Beijing and Colombo. All through this period, the Indian Ocean island was facing an acute foreign exchange crisis and its fast friend Beijing forced it to pay for fertiliser it did not supply.

    Now Sri Lanka has hit back through its audit report and seeks to claim approximately $6.9 million from Qingdao which it had paid under duress for fertiliser that never came.

    (The content is being carried under an arrangement with indianarrative.com)

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  • Lanka’s audit report seeks action against officials, Chinese firm

    Lanka’s audit report seeks action against officials, Chinese firm

    The audit has also claimed compensation from the Chinese company for attempting to unload a stock of unsterilized fertilizer that contained destructive bacteria….reports Asian Lite News

    After the fertilizer deal between Sri Lanka and China caused the island nation’s exchequer a loss of USD 6.9 million as the stock of fertilizer was rejected in December 2021 over reports that it contained harmful bacteria, Sri Lanka’s audit report called for action against officials and a Chinese firm.

    The report has recommended prosecuting officials, as well as a Chinese firm, Qingdao Seawin Biotech Group Co Ltd which was responsible for an unsupplied fertilizer stock, reported the Sunday Times.

    The audit has also claimed compensation from the Chinese company for attempting to unload a stock of unsterilized fertilizer that contained destructive bacteria.

    The special audit report compiled by the National Audit Office on the procurement of 96,000MT of organic fertilizer from the Chinese company, Qingdao Seawin Biotech Group Co. Ltd, also recommended blacklisting the company, as it has not performed in accordance with the laws and agreements of Sri Lanka, reported the Sunday Times.

    “… proceed with the legal action against the supplier and obtain compensation for attempting to enter a stock of unsterilized fertilizer… containing the destructive bacteria — Erwinia and Bacillus which cause diseases called mild rot and blight for economically valuable crops in Sri Lanka that cannot be imported into Sri Lanka in accordance with the terms of the agreement and the Plant Protection Act No 35 of 1999, and there is no recommended agrochemical for control,” the report said.

    The report also made many observations on the shortcomings in the procurement process and technical evaluation because no Technical Evaluation Committee members participated in the evaluation process and only the chairman of the committee had signed the documents related to the pre-qualification evaluation from each bidder.

    After that, the relevant supplier company had been informed by Shipping Advice on September 23, 2021, that the 20,550MT of fertilizer was sent from the Qingdao Port in China to the Colombo Port, reported the Sunday Times.

    Last September, a controversial situation arose when Hippo Spirit the ship that carried the fertilizer cargo was anchored off the Colombo port but could not unload the stock as it had not been sterilised in accordance with the Plant Quarantine Act and was found to be consisting of harmful bacteria in the samples.

    By refusing to accept and pay for the shipment, the importers, the two state-owned companies Ceylon Fertilizer Company Limited and Colombo Commercial Fertilizer Company Limited, filed cases at the Colombo Commercial Court to secure payment injunction orders against the People’s Bank, reported the Sunday Times.

    After the issue was raised through diplomatic channels, a Cabinet Memorandum was submitted to resolve the issue through mediation on the advice of the Attorney General.

    Accordingly, approval was granted to pay an advance of USD 6.9 million for 75 per cent of the cost of the fertilizer stock. Later, the two cases had been settled and withdrawn with the condition that the fertilizer should be resupplied with the desired composition and quality in accordance with the court settlement.

    “Nonetheless the expected standard of stock of fertilizer has not been obtained until now. Although the period of the letter of credit and the performance bond should be extended and kept valid as per the settlement terms, those documents expired on March 12 and on March 24 respectively. As a result, the ability to encash the money paid on settlement has been lost if the supplier will not provide standardised fertilizers. Resulting all of the above, the entire amount paid for fertilizers has become a loss to the government,” the report said. (ANI)

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  • Gotabaya Rajapaksa to return to Lanka on Saturday

    Gotabaya Rajapaksa to return to Lanka on Saturday

    Rajapaksa secretly fled to the Maldives first with the intervention of former Maldivian President Mohamed Nasheed and then to Singapore…reports Asian Lite News

    Gotabaya Rajapaksa, Sri Lanka’s former President who fled the country after anti-government protesters stormed his official residence on July 13, will return to the crisis-hit island nation on Saturday.

    Following months of street protests over the country’s worst-ever economic crisis that led to the acute shortage of basic essentials like food, fuel, medicine and cooking gas, Rajapaska, who came to power with a thumping Sinhala Buddhist majority votes in November 2019, announced his resignation two-and-a-half years before the end of his term.

    Rajapaksa secretly fled to the Maldives first with the intervention of former Maldivian President Mohamed Nasheed and then to Singapore.

    Following the intervention of the Sri Lankan government, Rajapaksa who holds a diplomatic passport, flew to Thailand where he was allowed a 90-day stay.

    Rajapaksa’s initial attempt to flee to the US where his son lives with his family, had failed after Washington refused to provide a visa.

    A former duel citizen, Rajapaksa had to give up the US citizenship in order to run in the 2019 presidential election.

    “The President should not have left the country but he could have given up the presidency while living in Sri Lanka,” Jagath Kumara, an MP from Rajapaksa’s Sri Lanka Podujana Peramuna (SLPP) party, told the media on Friday while welcoming the return of the former leader.

    “He is a citizen of this country and nobody can take the law into his or her hand,” the MP said when he was asked about the safety of the former President.

    Incumbent President Ranil Wickremesinghe had earlier stated that it was not safe for Rajapaksa to return to the country.

    ALSO READ: Breather for Lanka as IMF agrees on $2.9bn deal

  • Breather for Lanka as IMF agrees on  $2.9bn deal

    Breather for Lanka as IMF agrees on $2.9bn deal

    Facing the worst-ever economic crisis since Sri Lanka gained independence from Britain in 1948, the island nation is going through skyrocketing inflation…reports SUSITHA FERNANDO

    After a week-long discussion with Sri Lankan authorities, the International Monetary Fund (IMF) has agreed to provide a $2.9 billion extended facility for a four-year period, with conditions on debt restructuring and action on corruption.

    The IMF mission led by Peter Breuer and Masahiro Nozaki who were in the island nation from August 24 to September 1. They extensively discussed IMF’s support for Sri Lanka and the authorities’ comprehensive economic reform programme.

    “The new EFF arrangement will support Sri Lanka’s program to restore macroeconomic stability and debt sustainability, while safeguarding financial stability, reducing corruption vulnerabilities and unlocking Sri Lanka’s growth potential,” the IMF announced in a statement.

    Facing the worst-ever economic crisis since Sri Lanka gained independence from Britain in 1948, the island nation is going through skyrocketing inflation, dollar crunch and devaluation of the local currency mainly due to wrong financial decision making and extensive loans obtained for many white elephant projects.

    With a colossal $51 billion foreign debt, the country was expected to pay $7 billion in debt serving but defaulted in April this year.

    “Sri Lanka has been facing an acute crisis. Vulnerabilities have grown owing to inadequate external buffers and an unsustainable public debt dynamic. The April debt moratorium led to Sri Lanka defaulting on its external obligations, and a critically low level of foreign reserves has hampered the import of essential goods, including fuel, further impeding economic activity,” the IMF officials said in a joint statement on Thursday.

    The IMF said that the economy is expected to contract by 8.7 per cent in 2022 and inflation recently exceeded 60 per cent, of which the impact has been disproportionately borne by the poor and vulnerable.

    “Against this backdrop, the authorities’ program, supported by the Fund, would aim to stabilize the economy, protect the livelihoods of the Sri Lankan people, and prepare the ground for economic recovery and promoting sustainable and inclusive growth,” the statement added.

    Some of the main areas of the IMF-Sri Lanka agreement include raising taxes with an aim to reach a primary surplus of 2.3 per cent of GDP by 2024; introducing cost-recovery based pricing for fuel and electricity; rebuilding foreign reserves through restoring a market-determined and flexible exchange rate; reducing corruption vulnerabilities through improving fiscal transparency and public financial management; and introduce a stronger anti-corruption legal framework.

    During its stay in the crisis-hit country, the IMF team met President and Finance Minister Ranil Wickremesinghe, Central Bank Governor P. Nandalal Weerasinghe, Secretary to the Treasury K.M. Mahinda Siriwardana, opposition leader and opposition MPs, representatives from the private sector, civil society organizations and development partners.

    Sri Lanka was awaiting an IMF bailout to recover from the financial crisis which has led to the acute shortages of basic essentials like food, fuel and medicine.

    India, the closest neighbour, was the first to come in Sri Lanka’s aid with nearly $3.8 billion of financial support since January this year.

    ALSO READ: Lanka steps up efforts to woo tourists

  • Lanka steps up efforts to woo tourists

    Lanka steps up efforts to woo tourists

    The Minister said that the country had earlier offered a three-month “digital nomad” visa for tourists to attract foreigners engaged in remote work…reports Asian Lite News

    In an effort to boost the tourism industry amid the economic crisis, the Sri Lankan government on Tuesday said the island nation has extended its multiple-entry tourist visa to five years

    Tourism Minister Harin Fernando said that Sri Lanka now offers one-year multiple entry visas, reports Xinhua news agency.

    The country also issues single entry visas with a six-month stay period.

    Fernandor said that the cabinet of ministers approved his proposal on Monday.

    “Cabinet agreed to extend five-year multiple entry tourist visas for 35 countries to help boost repeat tourism in Sri Lanka. A tourist can stay in Sri Lanka for six months in one stretch with this scheme,” he said.

    The Minister said that the country had earlier offered a three-month “digital nomad” visa for tourists to attract foreigners engaged in remote work.

    The Minister said that tourism picked up in July and August after the anti-government protests gradually fizzled.

    He added that they expect 1 million tourists to arrive in Sri Lanka in 2022.

    “We expect $2 billion from tourism this year,” he said.

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