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Committee appointed to investigate recent incidents of LPG explosions
President Gotabaya Rajapaksa has appointed a Committee to look into the recent incidents of Liquefied Petroleum Gas (LPG) cylinder fires and explosions that occurred at domestic, commercial, and sales outlets in various parts of the country and to find possible causes of the problem in order to provide immediate solutions to the issue. The Committee […]
What really is a Sovereign Debt Restructuring Process?
This information note explains the sovereign debt restructuring process which is based on a document released by the IMF as the first comprehensive attempt to describe each step of the process. Introduction All sovereign debt workouts are painful — for the debtor country, its citizens, its creditors and its official sector sponsors. If mishandled, a […]
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. He told a […]
‘s Deputy National Security Advisor
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the Deputy National Security Advisor of India Shri Pankaj Saran, on 27 November 2021 at the National Security Council office in New Delhi. Deputy National Security Advisor Saran cordially welcomed High Commissioner Moragoda and had an extensive discussion with him. The discussion between the Deputy […]
Ceylon Chamber of Commerce joins global movement to end gender-based violence
The Ceylon Chamber of Commerce pledges to join the fight to end gender-based violence by joining the global campaign “Orange the World: 16 Days of Activism against Gender-Based Violence’. In Sri Lanka, the first dedicated national survey on violence against women and girls, the Women’s Wellbeing Survey, revealed that two in five women were subjected […]
WHO asks countries to be vigilant as cases surge globally & new Variant of Concern is detected
In view of surge in COVID-19 cases elsewhere globally and detection of new variant of concern Omicron, the World Health Organization today appealed to countries in South-East Asia Region to scale up surveillance, strengthen public health and social measures, and enhance vaccination coverage. “Though COVID-19 cases have been declining in most countries of our Region, […]
Policy interventions require that may be unpopular, says President at Export Awards
President Gotabaya Rajapaksa said that in the future too many unpopular decisions will have to be taken to overcome the global economic challenges and to keep the country on the path to prosperity. Even though the people criticized these interventions, the country and the people would reap the benefits in the near future, the President […]
UN ASG Khiari welcomes cooperation between UN and SL on peace and development
United Nations Assistant Secretary-General (ASG) for the Middle East, Asia and the Pacific Khaled Khiari has concluded his visit to Sri Lanka following a series of productive discussions. Khiari, who oversees the regional work of the UN’s Department of Political and Peacebuilding Affairs – Department of Peace Operations, met with President Gotabaya Rajapaksa, Minister of […]
National consensus on structural reforms needed to get out of economic crisis: Advocata
Sri Lanka is already in one of the worst economic crises in its history. The reforms are so difficult that no party will want to even contemplate let alone implement them fearing loss of popularity. The longer reforms are postponed, the worse the problem becomes which makes remedies even more difficult to implement. The only […]
‘s Hambantota Port Plug and Play ‘Park in Park’ Manufacturing Facility
By Maya Majueran Industrial Zones Industrial Zones are geographically designated areas that are earmarked by the government for the production of industrial goods and services. These zones normally enjoy a unique legal and economic status to promote investment from firms that might not otherwise be attracted. The prime objective was to enhance foreign investment and […]