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Talks Delayed
Peace talks between the Sri Lankan government and Tamil Tiger rebels have been postponed until the political crisis in Sri Lanka is resolved, the governments chief peace negotiator G.L. Peiris said Monday.“Given everything that has happened in the past few days, it is logical to assume that we have to resolve the threshold issue before […]
Snap Poll?
Sri Lankan Prime Minister Ranil Wickremesinghe told his cabinet Monday that he was ready to face a snap election to end a bitter stand-off with a hostile president, a government spokesman said.The government was prepared for an election, four years ahead of schedule, to get over the political impasse after President Chandrika Kumaratunga sacked three […]
Coup Backfires
The Sri Lankan presidents plan to oust her archrival prime minister through a constitutional maneuver may have backfired and caused new rifts within her ranks, politicians and analysts say. A member of Kumaratungas coalition Peoples Alliance (PA) said she had failed to muster defections from Prime Minister Ranil Wickremesinghes party to ldblquote push through a […]
Light Waves
Local hoteliers are facing another stiff hike in electricity costs, adding to falling tourist arrivals after the political woes of last week. The new lquote Hotel specific electricity tariff will put hoteliers in a tariff band 40 to 50 percent higher than at present.rn rnUnder the new rates large city hotels will pay up to […]
War Of Nerves
Prime Minister Ranil Wickremesinghe has put the peace process on the board as the latest move in a game of political-chess that started last week with President Kumaratunga taking over three ministries.After meeting the ambassadors of Norway and United States, the two co-chairs of the Tokyo donor conference on Sunday, government spokesman G L Pieris […]
Ready’85 Go
Governor of the Swedish Central Bank says Sri Lankas Central Bank is almost ready to go for a fully-fledged inflation targeting exercise.Sweden has successfully used an inflation target based approach to stabilize its economy.rn rnTypically, a central bank will set a low, but credible target and change interest rates to achieve it, regardless of what […]
Poetic Crisis
Experts say ambiguity in the Constitution on the Presidents power leaves room for different interpretations, but political considerations will play a bigger role in resolving the present crisis.Observers say the UNF government will have to consider a ldblquote second phase dblquote for their cohabitation agreement with a wider role for the President.rn rnTaking the Constitutional […]
’85 Go
Governor of the Swedish Central Bank says Sri Lankas Central Bank is almost ready to go for a fully-fledged inflation targeting exercise.Sweden has successfully used an inflation target based approach to stabilize its economy.rn rnTypically, a central bank will set a low, but credible target and change interest rates to achieve it, regardless of what […]
Getting Late
Aid donors warned of long delays in aid distribution if the budget is not presented soon as the IMF postponed the release of the second tranche of a key structural adjustment loan.The second tranche of a US$ 567 mn IMF loan backing the reforms could be pushed back due to the current political uncertainty and […]