About 45% of the hotels booked by the tourists to visit Sri Lanka have been cancelled
About 45% of the hotels booked by the tourists to visit the country have been cancelled. The Sri Lanka Tourism Promotion Authority states that this step has been taken due to the ongoing protests in the country. Fuel, gas and electricity crises have also been another major reason for the decline in tourist arrivals. The authority claims that this situation will have a very negative effect on the tourism industry in this country.
The next two weeks are crucial for Sri Lanka, A big problem in 06 months- BBC
Sri Lanka is facing a critical situation due to the uncertain political climate, IMF negotiations, foreign debt restructuring, and fuel crisis. Economic experts say that due to this, the next 02 weeks are extremely crucial for Sri Lanka. In the meantime, the United States is warning that among the reasons for Sri Lanka’s bankruptcy are China’s unproductive projects and loan deals. The negotiations with the International Monetary Fund (IMF) are still dragging on without proper agreement, and in the face of rising interest rates, running small and medium-scale businesses has become a challenging situation. It is in the background that the World Bank has emphasized that it will not plan to provide new financial facilities for Sri Lanka until an adequate macroeconomic policy framework is implemented. Economic experts point out that it has become difficult to run businesses in this situation and there is a risk of thousands of employees losing their jobs. No new financing-World Bank The World Bank disclosed in a statement that until an adequate macroeconomic policy framework is in place, the World Bank does not plan to provide new financing to Sri Lanka. The World Bank said it is deeply concerned about the dire economic situation and its impact on the people of Sri Lanka. The World Bank emphasizes that this requires deep structural reforms that focus on economic stabilization. The World Bank also noted that the World Bank is redeploying resources under existing loans to address acute shortages of essential items such as medicines, domestic gas, fertilisers, food for school children and cash transfers for poor and vulnerable households. According to the World Bank, about 160 million US dollars of these funds have been given to Sri Lanka to meet emergency needs. In addition, the World Bank noted that it will continue to support basic services such as the distribution of medicines and medical supplies, school meals and tuition fee waivers. The World Bank noted that it is working closely with relevant institutions to establish robust controls and credible monitoring to ensure these resources reach the poorest and most vulnerable. “Within the next 6 months, a big big problem” Samagi Janabalawegaya Member of Parliament Dr Harsha de Silva said, “If we fail to carry out these economic reforms, within the next 06 months, we will have to face a big problem soon.”
America-China clash over Sri Lanka
China has responded to the statement made by Mrs Samantha Power, head of the American Agency for International Development in New Delhi, that China’s non-transparent lending for Sri Lanka’s infrastructure is a major factor behind the current crisis engulfing Sri Lanka. Mr Zhao Lijian, the spokesperson of the Chinese Foreign Ministry, said in a press conference that due to Chinese investments, Sri Lanka’s economic development has reached a fast and advanced level. China-Sri Lanka practical cooperation has always been conducted by Sri Lanka in a scientific and planned manner, the spokesperson of the Chinese Foreign Ministry points out. He emphasized that there will be no political interference in these investments. Mr Zhao Lijian points out that China’s foreign loans are much lower than international capital markets and multilateral development banks. The spokesperson of the Chinese Foreign Ministry points out that the loans were given according to the need for the upliftment of the living standards of Sri Lankans and the development of infrastructure, at low interest and on the basis of long-term maturity. However, China’s foreign ministry spokesperson Mr. Zhao Lijian has said that many developed countries such as Sri Lanka were affected through things such as the raising of interest rates by America. Mr. Zhao Lijian, who says that the developing countries have come under severe economic pressure, has pointed out that the sanctions imposed by America from time to time have a negative effect on third world countries. News First
Inflation in Sri Lanka hits records.. Food inflation is over 90%
Surface inflation, measured by the annual point change in the Colombo Consumer Price Index (CPI, 2013=100), increased from 54.6% in June 2022 to 60.8 % in July 2022. This increase in annual point inflation was due to monthly increases in the prices of items in both food and non-food categories. Accordingly, the annual point inflation in the food category rose to 90.9 % in July 2022 from 80.1 % in June 2022. Also, Annual point inflation in the non-food category rose to 46.5 % in July 2022 from 42.4 % in June 2022.
A protester was arrested with two televisions stolen from Temple Tree palace
A person who stole two television sets from Temple Tree palace after the protests took over it has been arrested. The Kirulapana police say that this person who stole two 54-inch television sets is a chef. One television was found in the suspect’s boarding house and the other television was found after being sold for 10,000 rupees. The police say that the value of these two television channels is around six lakh rupees. Information has also revealed that this person is heavily addicted to the ice drug.
We cant give the financial support to Sri Lanka at the moment.- World Bank
The World Bank states that it is deeply concerned about the impact on the people of Sri Lanka in view of the dire economic situation. In a statement, the World Bank says that it does not plan to provide new financial facilities to Sri Lanka until an adequate macroeconomic policy framework is in place. It is stated in the announcement that deep structural reforms are needed with a focus on creating economic stability in Sri Lanka and the structural causes of the current economic crisis must also be addressed.
The Sri Lankan government cancel the usual August school vacation
The government has decided not to give holidays this August to government and approved private schools. Education Minister Susil Premajayantha says that schools will continue until the end of November. The minister also said that the current system of holding schools only 3 days a week will be removed soon.
The headquarters of the Frontline Socialist Party has been searched by the police
The police carried out a search of the Nugegoda office of the Front line Socialist party this morning. A spokesman said that the police visited the party’s headquarters in Nugegoda this morning. He also said that this group, who came without any search warrant, searched the party office in search of a terrorist. The office was raided by the police several times in recent days.
The dream of IMF loan may be ruined. So Sri Lanka will have to Look for an alternative immediately
The Samagi Jana Balawegaya Member of Parliament Mr Champika Ranawaka says that the only option to escape the economic crisis that Sri Lanka is facing is to get a loan from the International Monetary Fund. Posting a note on his Twitter account, he points out that if loans are granted from the International Monetary Fund, they have announced that all parties that have given loans to Sri Lanka must agree to restructure the debt. He says that the financial fund has also informed that the purpose of the talks is to restructure the debt to China, one of the main creditors of Sri Lanka, but it is doubtful whether they will allow restructuring their debt. He further stated that getting a loan from the International Monetary Fund can be a dream, so attention should be paid to alternatives.
An explanation from the Air Force about the soldier who was kidnapped and found tied to a tree
A corporal attached to the Sri Lanka Air Force base in Batticaloa was found tied to a tree in Valachichena, Ridhithenna area yesterday morning (28). He was later taken to the hospital after residents informed the Valachiwena police. The police also found a board written in Tamil at that place and it said, “This is how people who help brutal politics are put to death.” Later, an investigation was started by Valachichena police. There, he said that while he was returning from vacation, he was abducted from a van, tied his hands and feet to a tree and tried to beat him to death. Here, due to the contradictions in the information revealed by him and the information revealed during the investigation, and due to the suspicion about the board written in Tamil near him, the police officers who conducted the investigation realized that it was written by a person who had no experience with the Tamil language. While continuing the investigation, he has admitted that he has done this act himself. This air force corporal was so addicted to online computer gaming that he took money from fellow airmen in his base to indulge in it. It is stated in the statement that he had given that he had intended to commit suicide first due to failure to return the money. But it has been revealed that he has planned this act because if he commits suicide there, his wife will not receive the benefits from the Air Force. At present, this corporal has been arrested by the Valachichena police and is scheduled to be produced in the Valachichena Magistrate’s Court tomorrow. There is no association Sri Lanka Air Force or any other party for this action and this entire process has been done by this Corporal at his discretion. Air Force Media Spokesman Group Captain Dushan Wijesinghe stated that for the damage caused to the image of the Sri Lanka Air Force, this corporal is to be dealt with legally according to Air Force law at the end of the police investigation. Newswire