Current economic crisis Sri Lanka-What is happening in Sri Lanka now?
The World Bank has expressed concern over the economic situation in Sri Lanka and its impact on the people. The World Bank says it is working to provide emergency assistance to the poorest and most vulnerable people in Sri Lanka. The Director of the World Bank in Sri Lanka states that steps will be taken for the benefit of the people of this country who have been minimizing the impact of the economic crisis. He pointed out that sustainable and macro-development was needed to overcome the crisis and that specialized measures were needed. Meanwhile, Sri Lanka has been downgraded by Fitch Ratings. According to its latest rankings, Sri Lanka has been downgraded from CC level to C level. Not only that Standard & Poor’s, an international credit rating agency, has also further downgraded Sri Lanka’s creditworthiness Sri Lanka, which used to be at the CCC level in those rankings, is now at the CC level. They have taken Sri Lanka’s suspension of foreign debt seriously as a reason for the downturn. If it goes down another notch, Sri Lanka will go bankrupt in those rankings. Continuing to take loans India has agreed to provide another $ 2 billion loan to Sri Lanka, according to foreign media reports. The loan will be used to obtain essential food, medicine and fuel. Earlier, India had given a loan to Sri Lanka to purchase fuel essential food and medicine. Not only that Sri Lanka’s Ambassador to China Dr Palitha Kohona has expressed confidence that the US $ 2.5 billion loans expected from China will be repaid on time. He told a foreign news service that he had been assured by Chinese authorities that the work was progressing. Sri Lanka expects to borrow the US $ 2.5 billion from China. One billion of that debt is to be used to repay Chinese debt next July, and the remaining 1.5 billion is planned to be used as a loan facility. Dr Palitha Kohona is confident that Sri Lanka, a country with close ties to China, will respond positively to Sri Lanka’s request in the face of crisis. He has stated that it is not possible to say the exact time frame for which this loan will be available and that it will take some time. Continuing protests Gallface protesters Gogota gama Protests in front of the Presidential Palace Gall face is continuing for day 7 today.Protesters in front of the Presidential Palace say the Rajapakse family has stolen trillions of dollars. They displayed a banner demanding a refund. One trillion dollars is almost fifty times the wealth of the American economy. The U.S. gross domestic product is about $ 23 trillion. Lake House Sri Lanka People’s Front (SLPP) Trade Union President Chandana Bandara has stated that protesters chasing his car had attacked his car. Posting a note on his social media account, he says that the incident happened when he was traveling in a private car from Kollupitiya to Colombo. According to his note, they also tried to overturn the car after hitting it. A young man who was protesting against the government in a foreign country states that all the wealth of the Rajapaksas is hidden in Uganda. They also said that in 2021, three Sri Lankan Airlines planes sent about one dollar worth of stamped goods from Sri Lanka to Uganda. They also said that the private jet that President Mahinda Rajapaksa had recently flown to Tirupati had been registered in Italy after the stampede was sent to Uganda. However, SriLankan Airlines has denied the allegations, saying that in February 2021, the airline received an order to ship 102 printed goods from Colombo to Uganda. The company states that it was a purely commercial order and that it provided foreign revenue to the airline and the country. According to the airline, the cargo was transported for commercial purposes only. But Anonymous hackers claim to have smuggled tons of dollars into Uganda They also say that President Gotabhaya Rajapaksa will be given another 12 days to step down. They made the announcement in a statement on their Twitter account. Rathnapura A group of protesters have blocked the Ratnapura-Colombo main road in the Hidellana area in Ratnapura. They are protesting saying that there is a severe shortage of petrol and diesel in the Ratnapura area. Some have been waiting in line for about a day and a half for fuel. Fuel distributors say that despite the arrival of a fuel bowser, one bowser was not enough for those in line due to the rising demand. Sri lanka Police also joined the protests A video of a police officer speaking in favor of the protest at Galle Face Green has been shared on social media. He is wearing a police uniform and is saying that the government should be ousted and handed over to anyone who can. He added that the police and the judiciary work only for the poor. Another police officer who was nearby tried to take him away. But Disciplinary measures are taken regarding the police officer who has been supporting the protesters. The Police Media Spokesman’s Office said in a statement that the officer had previously been suspended on disciplinary grounds. The announcement also states that duties have been re-established due to extremely humanitarian reasons. Talks between the government and protests Protesters at Galle Face Green in Colombo have rejected an invitation extended by Prime Minister Mahinda Rajapaksa to attend a discussion. As a non-partisan activist, I am aware of this by forwarding two letters to the Prime Minister. But the relevant articles do not mention any responsible person or name. Many dissidents who have expressed support for the protest on social media have said that discussions should be held at the invitation of the government. They also point out that if the government does not accept the order, the protesters’ program should be made public. Protesters in the Galle face have stated that they are ready for talks with the Prime
Sri Lanka seeking US$ 4Bn from IMF
ri Lanka’s new Finance Minister, Ali Sabry states that the country plans to start talks with the IMF on April 18 to secure as much as $4 billion in aid for the economy. He also signaled optimism in getting financial support from China and India.
Sri Lankan New Year celebration at Gota Go Gama : Sri Lankan Economic Crisis
Youths who are used to spending time with their parents and children during the holy season are still engaged in a struggle at the Galle Face Green in Colombo for the 6th day demanding the President and his government resign. News 1st Correspondent said that people were protesting despite the heavy rains experienced on Wednesday (13) night. Sri Lankans protesting outside the most powerful building in Colombo – The President’s Office – demanding the resignation of the President and the Government, have rejected Prime Minister Mahinda Rajapaksa’s offer for talks. “We did not come here for talks. We are here to demand that you and the government resign,” said one youth protestor at the protest site which is now known by them as GotGoGama. Almost all others echoed the same sentiment rejecting the offer for discussions. “I’m willing & prepared to meet with citizens currently engaged in the protests at Galle Face to hear their thoughts & complaints. Understanding that this is a tough time for all of us, I invite them to meet & discuss any possible, plausible courses of action for the sake of Sri Lanka,” the Prime Minister tweeted, while also sending a statement to the media. Hundreds have stayed put there since Saturday (9) despite bouts of heavy rain, saying they will not leave until the president, prime minister, and the government resigns. Dozens of tents filled with donations including water, food, and medicine to sustain protesters, occupy the lawns and streets of Galle Face. Men, women, and children from all walks of life have rallied at Galle Face, waving the country’s golden lion flag, chanting slogans, and holding up placards with hand-written messages The Occupy Galle Face protesters say they have had enough. (newsfirst)
New Village situated in Galleface Green “GotaGoGama”
Sri Lankan protestors who occupied the Galle Face stretch since Saturday (9) against the President and his government have also now set up a camp named ‘Gota-Go-Gama’ (GotaGoGama). The camp was set up on Saturday (9) night with just a few tents, and the number shot up to over two dozen on Sunday (10) night. Gota-Go-Gama is like a small model village, it has all the basic requirements including free food, water, toilets, and even a make ship medical camp for health emergencies.
Sri Lankans are fleeing away from the country #srilankaeconomiccrisis
The Department of Immigration and Emigration states that the process of preparing passports to travel from Sri Lanka to other countries is on the rise due to the current crisis. It is said that the number of such visitors has increased by 40%. Sales of homes and vehicles have also increased across the country in the recent past, as they have been selling property and raising money to go abroad. The international media has also reported that the number of people fleeing to foreign countries through illegal means has increased. India has tightened the border security Indian security forces have reportedly stepped up security along the Indian Ocean border to stop Sri Lankans from entering India through the North Sea. The Indian Navy, the Coast Guard and the Police have taken steps to increase security along the coast. Meanwhile, on the 8th of this month, the Tamil Nadu Navy arrested four members of a family who had entered the Dhanushkodi beach in India from Talaimannar without permission. Four people including two children and a father with their mother had gone to the Dhanuskodi beach with the help of a dinghy. The four had told the Indian security forces that they had come to India as they could not live in Sri Lanka due to poverty. Meanwhile, 16 people, including 12 first and then four others, were detained along the northern coast of India last month (March). Tamil Nadu Chief Minister India ready to help select only Tamils in Sri Lanka MK Stalin, the current Chief Minister of the State of Tamil Nadu in India, has stated that he is ready to provide assistance only to the Tamil people living in the North East, plantation areas and Colombo in Sri Lanka as a solution to the economic crisis and food and medicine shortages. Tamil Nadu Chief Minister Stalin on Thursday telephoned Union Home Minister S Jayashankar to stress the Tamil Nadu government’s proposal to help Tamils on a neighboring island. It has been requested that diplomatic permission be granted for this purpose and that these grants be granted not through the Government of Sri Lanka but through the Indian High Commissioner to Sri Lanka. It has been said that essential items such as rice and life-saving medicines can be shipped to Sri Lanka for the benefit of the Tamil people. The Chief Minister told Jaishankar that the ship was ready to be shipped to Sri Lanka from the Tuticorin port. He also said that his heart melted for the Tamil people who were starving without food. What is the current situation in Sri Lanka? Continuous protests The protest that started yesterday in front of the Presidential Secretariat is still going on. Despite the rainy weather, some young people remain there. The protesters were not stopped by security forces. Government Employees joined the protest Employees of government institutions in the Hatton area and teachers of schools run by the Hatton Zonal Education Office staged a protest against the rising cost of living, fuel and gas shortages and power cuts in Hatton town centre on the afternoon of the 8th. Despite the adverse weather conditions prevailing in the Hatton area on the afternoon of the 08th, public servants and teachers were engaged in agitation. Teachers and public servants stressed the need for President Gotabhaya Rajapaksa to resign. After that, an interim president should be appointed by the parliament and he should rule the country for a short period under a caretaker government and liberate the people of the country from suffering. The teachers and public servants who were involved in the agitation said that they would give their maximum contribution to the caretaker government as public servants.
Economic Crisis in Sri Lanka-The current political situation in Sri Lanka
We are ready to come forward to save this country-Harsha de Silva We are ready to come forward to save this country – But it requires a sincere effort, ”said Harsha de Silva, a Member of Parliament for the United Front. He made these comments while addressing a media briefing. “I have been saying for years that the country is falling here. I’m not happy that what was said went right. I am deeply saddened by the fact that we did not listen to what was said and the fate that has befallen the country today. Like I always said, we will all be devastated by this crisis. It has no party affiliation. We are ready to come forward to save this country. But it takes everyone’s sincere effort. This challenge cannot be overcome without such a sincere effort. This is not the time to inflate people. Superman cannot overcome this challenge. This challenge can only be overcome if we all unite sincerely. A request to remove Mahinda Rajapaksha from the post Eleven allied parties and independent members of the Sri Lanka People’s Front (SLPP) have requested President Gotabhaya Rajapaksa to remove Mahinda Rajapaksa from the post of Prime Minister and appoint a new Prime Minister and Cabinet to help the country recover from the current crisis. They have made this request by submitting a proposal to the President to overcome the current political and economic crisis in the country. A new cabinet will be formed – Rohitha Abeygunawardena Former Ports Minister Rohitha Abeygunawardena says he hopes to swear in the new cabinet and take over the current government by Monday. He said that although the President had democratically invited any group that could show a majority of 113 in Parliament to continue with the government, no one had accepted the challenge. He also stated that when the government gives them, they do not accept it because they cannot do it. The presidency should be given to the opposition party -Sarath Fonseka. If the government gives to Samagi Jana Balawega, it should be given along with the presidency, says Samagi Jana Balawega MP Sarath Fonseka. Speaking in Parliament, he said that this was his personal opinion. He also said that if the government accepts, a government with a presidency should be accepted. He also said that the country should have a presidency in a situation where the provincial councils are constitutional. I also want to join the protests – SB Dissanayake MP SB Dissanayake says it is not surprising that people in oil and gas queues are calling the government ‘Go Home Gota’. He said it was not surprising that they took to the streets and cursed the government. He also apologized to the people on behalf of the government and the People’s Front for the harassment. He added that when he was at home without electricity for seven or eight hours, he too would try to pick up a board and take it to the streets. He made these comments at a media briefing held at the Sri Lanka People’s Front headquarters. People flooded President Gotabhaya Rajapaksa’s Facebook page with Likes President Gotabhaya Rajapaksa’s latest response to a recent social media post has been flooded with likes. This is a note about the appointment of Nandalal Weerasinghe as the new Governor of the Central Bank. The president has been responding to posts on his social media account with insults for some time now. It has recently been decimated by its responsiveness and extreme potential. But you can see how the news of the appointment of the new Governor of the Central Bank has been highly endorsed by social media users. Some opposition members refused to bring an impeachment motion against President According to internal sources, Samagi Jana Balawega MPs Manusha Nanayakkara and Harin Fernando have urged the Leader of the Opposition Sajith Premadasa to bring an impeachment motion against President Gotabhaya Rajapaksa. However, the Leader of the Samagi Jana Balawega, Leader of the Opposition Sajith Premadasa has flatly rejected the proposal. It is learned that Sajith Premadasa has rejected the impeachment motion as he does not have a majority in Parliament at present and is unable to obtain the necessary support from the Members of Parliament at the moment. It also means that the president will not be able to go to the polls and will be even stronger. However, it was learned that Manusha and Harin continued to pressure the Leader of the Opposition Sajith Premadasa to agree to this. Sajith Premadasa has repeatedly stated that the opposition members are divided into two groups and are in favour of the impeachment motion and that they do not want to file an impeachment motion against the President as he does not have a majority in Parliament at the moment.
Will Smith has been banned from the Oscars gala and other Academy events for 10 years
Will Smith has been banned from the Oscars gala and other Academy events for 10 years after the US actor slapped comic Chris Rock at the Oscars. In a statement, the Academy said the 94th Oscars had been “overshadowed by the unacceptable and harmful behavior we saw Smith exhibit on stage”. Smith has apologized for his actions and resigned from the Academy. The actor hit Rock for joking about his wife’s shaved head, a result of the hair-loss condition alopecia. Less than an hour later, he was awarded the best actor award for his role in “King Richard”, where he played the father of tennis stars Venus and Serena Williams. The Academy Of Motion Picture Arts and Science, which organizes the awards ceremony, met virtually on Friday to discuss disciplinary action. In its statement, it said banning Smith was aimed at protecting performers and guests and “restoring trust in the Academy”. The Academy said that at the time of the slap it did not “adequately address the situation in the room” and had been “unprepared for the unprecedented”. I apologized for this. It also thanked Rock for “maintaining his composure under extraordinary circumstances”. In his resignation statement, Smith said he had “betrayed the trust of the Academy” and was “heartbroken” over his actions. He added he would “fully accept any consequences for my conduct”. His resignation means he will be unable to vote for future Oscars voters. The Academy’s disciplinary review over the incident, originally scheduled for 18 April, was fast-tracked after Smith resigned. Few have ever resigned from the academy. Four members – producer Harvey Weinstein, actor Bill Cosby, director Roman Polanski, and cinematographer Adam Kimmel – have been booted over sexual misconduct allegations, while actor Carmine Caridi was expelled in 2004 for pirating screener videos given to him. But the standards of conduct laid out by the film academy contained various disciplinary options for Smith, such as excluding him from future Oscars ceremonies, revoking his eligibility for awards, or taking back his newly won Oscar. Only one Oscar has ever been taken back; a feature called “Young Americans” won the best documentary honor in 1969 but was found to be ineligible for the award that year. Late last month, actor Whoopi Goldberg – a member of the academy’s board of governors – predicted Smith would face “big consequences” but said, “we’re not going to take that Oscar away from him.” Beyond the Academy’s actions, at least two studios – Sony and Netflix – are pausing their projects with Smith. Rock, who began his latest stand-up comedy tour shortly after the Oscars telecast, has not commented publicly on the slap. He told fans at a show last month that he is “still kind of processing what happened” and will talk about the incident “at some point”.
Sabry says Sri Lanka is seeking $3Bn.
Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, the Finance Minister Ali Sabry stated in an interview with Reuters. The Finance Minister, stating that it is indeed a ‘Herculean task’, mentioned that Sri Lanka needs $3 billion in bridge financing while readying itself for negotiations with the IMF. Sri Lanka will look to restructure international sovereign bonds and seek a moratorium on payments, and is confident of negotiating with bondholders for an upcoming $1 billion payment in July. “The entire effort is not to go for a hard default, as we understand the consequences of a hard default.” Minister Sabry stated. J.P. Morgan analysts estimated this week that Sri Lanka’s gross debt servicing would amount to $7 billion this year, with the current account deficit coming in around $3 billion. Sri Lanka will seek another $500 million credit line from India for fuel, which would suffice for about five weeks of requirements, Sabry said. The government would also seek support from the Asian Development Bank, the World Bank and bilateral partners including China, the United States, Britain and countries in the Middle East. “We know where we are, and the only thing is to fight back,” Sabry said, looking relaxed in a blue T-shirt and jeans, according to Reuters. “We have no choice.” he said. On Friday, a new central bank governor raised interest rates by an unprecedented 700 basis points in a bid to tame rocketing inflation and stabilize the economy. In a effort to fix government finances, Sabry said the country will have to raise tax rates and further increase fuel prices within the next six months. “These are very unpopular measures but these are things we need to do for the country to come out of this,” he said. “But the choice is do you do that, or do you go down the drain permanently?” Reuters further reported.
Gayanthika Aberathna sets a new Sri lanka record
Gayanthika Aberathna sets a new Sri lanka record for the 800M with a time of 2 minutes 01.44 seconds at the 100th National Athletic Championships.
Government payed for the diesel ship
The Ministry of Energy says it has paid $ 52 million for a ship carrying 37,500 metric tons of diesel belonging to Singapore-based Vitol, which had been anchored in international waters for 16 days. Accordingly, the consignment of diesel will be unloaded this afternoon (08). . The ministry said it would have to pay nearly 92 million rupees in late fees. Two other fuel tankers are currently anchored in international waters. Due to the inability to pay for those letters of credit. The Ministry of Energy stated that a ship carrying 30,000 metric tons of fuel for power plants has also arrived. The ministry said a ship carrying 35,000 metric tons of jet fuel was due to arrive on the 15th of this month. The Ministry of Energy stated that the country has sufficient stocks of petrol.