SRI LANKA NEEDS FEWER POLITICIANS AND MORE TECHNOLOGISTS – By Dr. Tilak S. Fernando   “There are rumours that Sri Lankan Prime Minister Ranil Wickremesinghe had to take over the finance portfolio since no member of the Sri Lankan Parliament was willing to take up this challenge of managing the country’s finances. Instead of looking at the scenario negatively, it would be appropriate to think that the Prime Minister taking over the finance portfolio is also a progressive step, as the finance portfolio requires the maximum attention at this stage,” says veteran Indian journalist N.S. Venkataramanin in his latest article, which landed in my email ‘in box’. He further states that ‘when the Sri Lankan Government negotiated with the IMF to obtain financial support, the present scenario appears to be that the IMF is procrastinating the issue and has not given a firm assurance to the Sri Lankan Government. When ...

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SRI LANKA NEEDS LESS NUMBER OF POLITICIANS AND MORE NUMBER OF TECHNOLOGISTS – by N.S.Venkataraman There are rumours that Sri Lankan Prime Minister   Ranil Wickremesinghe  had to take over the finance portfolio also, since no member of Sri Lankan parliament was willing to take up this challenge of managing the country’s  finance.  Instead of looking at the scenario in  such negative manner, it would be appropriate to think that Prime Minister taking over the finance portfolio also is a progressive step , as the finance portfolio requires the maximum attention at this stage. While the Sri Lankan government is negotiating with IMF to get financial assistance , it appears that the decision of IMF is yet to be taken firmly.  Meanwhile, Sri Lankan government approached the World Bank and it is said that the World Bank ruled out any new assistance to Sri Lanka , until an adequate macro economic ...

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Sri Lanka-current 27th May 2022 – By Dr Harold Gunatillake *Sri Lanka PM to take over as finance minister too. Ali Sabry, previous finance minister, resigns *Wickremesinghe will present an interim budget within six weeks that will slash government expenditure ‘to the bone’. *The PM is seeking $4bn from the IMF, China and Japan to pay for food and fuel even as he slashes the budget to ‘bare bones’. *Sri Lanka’s Rajapaksa Appeals for Bridging Finance in TokyoLanka has run out of money to pay for food, fuel, medicines and other daily need. *Sri Lanka hikes fuel prices, hires financial and legal advisers *Sri Lanka’s inflation increased by 20-24 per cent Lanka’s Prime Minister Ranil Wickremesinghe will take charge as finance minister, the president’s office has announced. It will lead talks with the International Monetary Fund (IMF) as the crisis-hit nation seeks a bailout. “Prime Minister Ranil Wickremesinghe was sworn ...

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China becomes wild card in Sri Lanka’s debt crisis – by BHARATHA MALLAWARACHI China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade Source:abcnews.go.com COLOMBO, Sri Lanka — China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade. But in a cautionary tale for borrowers, Sri Lanka’s multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a financial crisis so severe that the Indian Ocean nation cannot import food or gasoline. Sri Lanka’s struggle is extreme, but it reflects conditions across dozens of countries from South Pacific islands through some of the poorest in Asia and Africa that have signed onto Chinese President Xi Jinping’s Belt and Road Initiative. The total debt of poor countries is rising, raising risks others might run into trouble. Sri Lanka’s 22 ...

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CAN RANIL PULL THROUGH THE PRESENT PANDEMONIUM? – By Dr. Tilak S. Fernando Photo Source:bbc.com    Everyone doesn’t Ranil Wickremasinghe’s appointment as Prime Minister. He was the only member of Parliament ( from the national list) when the whole group of UNP candidates lost their parliamentary seats. It took nearly a year to fill the  UNP National list vacancy. In the end, the  UNP recommended Ranil Wickremasinghe’s name. Likewise, everyone blames the Opposition Leader for dilly-dallying the issue by presenting numerous excuses, such as ” the President should leave.”  By the time he agreed to accept the Prime Minister’s position (still under several clauses), the stable was closed and the horse had bolted. Usually, an opposition leader understands the Constitution of a country. For example, there is a shadow cabinet in England, and the opposition leader takes immense responsibility for national issues. He may disagree in Parliament over political issues ...

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First cut is the deepest! – By Aubrey Joachim   The magician has spoken. However, he did not pull any rabbits out of a hat. Instead he slashed the body of the damsel (in distress). Is it an illusion or will he be able to put her back and will she rise out of the façade? The newly appointed Prime Minister has spoken to the nation. The message was crisp, clear and succinct. The situation is grave. The patient is on life support. Sri Lankans will face hardships that they have never faced in their lives over the next few months. The stages of recovery will take time. If the patient comes out of life support it will progress through intensive care, critical care and a long period of hospitalisation before some modicum of recovery happens. A mere few months of hardships is the height of optimism. It seems more ...

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Wickremesinghe chosen Sri Lanka PM in effort to quell crisis – by Krishan Francis and Bharatha Mallawarachi Source:ctvnews.ca COLOMBO, SRI LANKA – Five-time former Sri Lankan Prime Minister Ranil Wickremesinghe was reappointed on Thursday in an effort to bring stability to the island nation, which is engulfed in a political and economic crisis. Wickremesinghe, a contentious choice by President Gotabaya Rajapaksa, took his oath in a ceremony at the president’s residence. Protesters have blocked the entrance to the president’s office for more than a month. The president’s brother, Mahinda Rajakapsa, resigned as prime minister on Monday following violent attacks by supporters on peaceful anti-government protesters. His resignation automatically dissolved the Cabinet, leaving an administrative vacuum. The president’s selection of Wickremesinghe is an attempt to end the violence and restore international credibility as the government negotiates a bailout package with the International Monetary Fund. Sri Lankans for months have been forced to ...

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 SRI LANKA CAN  QUICKLY BOUNCE BACK IF SRI LANKANS WANT IT – by N.S.Venkataraman Sri Lanka has a population of   slightly more than 22 million.  Sri Lanka’s population is reported to have an adult literacy rate of  more than  92 percent , which is above average by world and regional standards. Computer literacy is more than 30  percent and website users  are  reported to be more than 32  percent of the population.  Certainly, Sri Lankan society  can be considered as .well informed one , as education plays a major part in the life and culture of  Sri Lanka. In such circumstances, people around the world , who have knowledge about Sri Lanka’s history, culture and tradition , are taken aback to see the type of violence that is now sweeping the country ,  which have made many people wonder as to how Sri Lanka would come out of the present crisis. In ...

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Kaleidoscope with Savithri Rodrigo 103 29 04 2022 It’s Friday and we are back! Prime Group Kaleidoscope today has a snippet about May Day and discusses the IMF Checklist, a firefighting restaurant industry, the stock market’s next move, poster art’s ‘nowness’, reducing e-waste, the Queen’s Barbie & lots more! Enjoy,  ...

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