Ranil Wickremesinghe

New Sri Lankan govt orders reinvestigation of several high-profile cases

Sri Lanka's new government has ordered the police to reinvestigate some high-profile cases, including the 2019 Easter Sunday terror attacks and the 2005 murder of a Tamil minority community journalist. The ruling National People's Power, which won the presidential election last month, pledged to reinvestigate past cases which had not been resolved. The Ministry of Public Security took action to identify any lapses in investigations. The ministry has asked the acting police chief that these cases should be reinvestigated," Police spokesman Nihal Thalduwa said on Saturday. The cases to be reinvestigated include the alleged scam in the issue of Central Bank bonds in 2015 blamed on the then government of Ranil Wickremesinghe, the former president, and the 2019 Easter Sunday terror attacks that killed over 270 people, including 11 Indians. The catholic church has been demanding stringent action on what they alleged was a politically motivated cover-up by previous governments on the ...

Sri Lanka's new govt holds its first Cabinet meeting with only 3 ministers

Sri Lanka's new National People's Power (NPP) government has held its first Cabinet meeting with just three ministers in attendance, according to officials. The new Cabinet Spokesman Vijitha Herath, who holds multiple ministries, said that he, along with the newly-appointed President Anura Kumara Dissanayake and the prime minister Dr Harini Amarasuriya, were the only attendees at Monday's meeting. It was the smallest Cabinet meeting ever, he said. Last week, President Dissanayake appointed his cabinet of four, including himself, before dissolving the Parliament to call a snap election on November 14. The last parliament was convened in August 2020. The constitution limits the cabinet positions to 25 ministers. Herath said while the same number would be maintained after they win the next election, no ministers of state would be appointed. The parliamentary election to appoint 225 members of the Parliament House comes closely on the heels of the September 21 presidential election.

Ahead of new election, many in Sri Lanka still waiting for change

Two years ago, tens of thousands of Sri Lankans rose up against their president and forced him to flee the country. As the country prepares for its first election since then, many say they're still waiting for change. As Sri Lanka sank into economic collapse in 2022, people from various walks of life rallied to change a long-entrenched government they saw as responsible. The unprecedented island-wide public uprising they led was a moment of hope for the country long been fatigued by war and economic instability. Days ahead of Saturday's presidential election, many still complain of corrupt leaders, economic mismanagement, and the entrenched power of the political old guard, but former protesters are having a hard time coming together behind a candidate. They agree on one thing: Sri Lanka needs a new political system that can take it out of economic and political turbulence. Days after Rajapaksa fled the country, Sri Lanka's parliament replaced him with then-prime minister Ranil ...

Sri Lanka set to go for prez election on Sept 21, puts end to speculations

The presidential election in Sri Lanka is to take place on September 21, the independent elections commission announced today. The announcement ended months long speculation that the election would be postponed to extend the term of the incumbent Ranil Wickremesinghe. The government gazette no 2394/51 issued today said in terms of article 31 (3) of the constitution the election would take place on September 21 while the nominations would be accepted on August 15. The election announcement set to end the balance term of President Gotabaya Rajapaksa, who was ousted mid 2022 in a popular public uprising. Rajapaksa had been elected with a record near 7 million votes in November 2019 when the last presidential election was held. Tens of thousands who got into the streets early 2022 demanded Rajapaksa to step down for his failure to tackle the island's gravest economic crisis since 1948. Rajapaksa was forced to flee the country on July 9, 2022 and incumbent Ranil Wickremesinghe who was

Wickremesinghe rules out another salary hike for govt employees this year

Sri Lankan President Ranil Wickremesinghe has said that the government sector employees will not be given another salary increase this year, cautioning that further pay hikes without proper planning could cripple the government ahead of presidential and general elections. The 75-year-old, widely expected to seek re-election for the office of president, acknowledged the strain on the economy, stating that previous programmes providing increased benefits and allowances had depleted excess funds, the News First portal reported on Sunday. Wickremesinghe highlighted the Sri Lankan Rs 10,000 salary increase and additional benefits implemented under the "Aswasuma" programme. He emphasised the need for fiscal responsibility, cautioning that further salary increases without proper planning could cripple the government, the report said. Wickremesinghe, who has been serving the balance term of the ousted president Gotabaya Rajapaksa since mid-July 2022, stressed the need to prioritise nationa

Debt restructuring deal aids Sri Lanka's economic revival: Wickremesinghe

President Ranil Wickremesinghe on Tuesday said substantial progress" has been achieved in Sri Lanka's debt restructuring, which he said provided the much-needed breathing space for the cash-strapped country to transform its bankrupt economy into a resilient and stable one. Briefing Parliament on the country's resulting benefits of the correct course of action, President Wickremesinghe also countered the Opposition's criticism of the debt restructuring agreement with major bilateral creditors and promised to table all agreements and documents related to it to a Parliamentary panel. In April 2022, the island nation declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial crisis led President Ranil Wickremesinghe's predecessor Gotabaya Rajapaksa to quit office in 2022 amid civil unrest. Earlier last week, President Wickremesinghe announced that debt restructuring agreements were finalised with bilateral lenders, including ..

Wickremesinghe defends Sri Lanka's debt restructuring deal amid criticism

Sri Lankan President Ranil Wickremesinghe on Tuesday countered the Opposition's criticism of the cash-strapped country's external debt restructuring agreement with major bilateral creditors and promised to table all agreements and documents regarding debt restructuring to a parliamentary panel for scrutiny. The planned two-day debate in Parliament on the deal was, however, postponed as Opposition members protested the lack of transparency regarding the agreements reached. Dismissing the Opposition's criticism as inaccurate, Wickremesinghe argued, No bilateral creditor would agree to a reduction of principal amount. Instead, concessions are allowed through extended repayment periods, grace periods and lower interest rates. The president, who also holds the portfolio as the finance minister, said the agreements with bilateral creditors include extending principal repayments until 2028, maintaining interest rates below 2.1 per cent, and extending the full debt resettlement grace period

Modi's swearing-in on June 8: Which global leaders are attending?

Bangladesh's PM Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe are among foreign dignitaries attending Modi's third consecutive term swearing-in ceremony

Leaders of Sri Lanka, Maldives, Nepal, congratulate PM Modi on poll victory

Sri Lankan President Ranil Wickremesinghe and Nepalese Prime Minister Pushpa Kamal Dahal 'Prachanda' on Tuesday congratulated Prime Minister Narendra Modi on the victory of the BJP-led NDA coalition in the general elections and expressed their desire to work closely with him. "I extend my warmest felicitations to the BJP-led NDA on its victory demonstrating the confidence of the Indian people in the progress and prosperity under the leadership of PM Narendra Modi," the Sri Lankan president wrote on X. As the closest neighbour Sri Lanka looks forward to further strengthening the partnership with India, he added. Nepal Prime Minister 'Prachanda' congratulated his Indian counterpart on the electoral success of his party-led alliance. "Congratulations to PM @narendramodi on the electoral success of BJP and NDA in the Lok Sabha elections for the third consecutive term. We are happy to note the successful completion of the world's largest democratic exercise with enthusiastic participati

Looking forward to greater economic cooperation with India: Sri Lanka Prez

Sri Lanka is looking to accelerate greater economic cooperation with India with the tourism sector taking the lead, the island nation's President Ranil Wickremesinghe said on Thursday. India's status as a rising economic giant and Sri Lanka's location as a strategic logistics hub will complement each other in driving forward the two economies, he said while addressing the opening of Indian firm ITC Hotels' first overseas property, ITC Ratnadipa here. "I have no doubt that this icon (ITC Ratnadipa) will help increase tourism into Sri Lanka, more particularly from India. Now these are part of the vision statement which Prime Minister (Narendra) Modi and I signed last year on how do we integrate our economies and we get closer," Wickremesinghe said. The economic background, the convertibility of Indian rupees, all have now been laid, he said, adding,"so this is the start. I think more than any other sector we identified this (tourism) is one which you can start." He further said, ...

Sri Lanka govt, Oppn trade barbs over failure to reach bondholder agreement

Sri Lanka continues to engage all debt restructuring negotiations in good faith, within principles of equitable treatment among creditors with maximum transparency, the government has said as it faced criticism from the Opposition for maintaining secrecy over the debt restructuring process. The government on Tuesday announced that it failed to reach an agreement with its international bondholders for restructuring around USD 12 billion in debt. The main opposition's economy spokesman Harsha de Silva in a statement said they were disappointed with the lack of transparency in the debt restructuring process. .It is obvious that that government has failed to strike a deal favourable to the people of Sri Lanka, de Silva of Samagi Jana Balawegaya party added. It is clear that the participating bondholders do not want to move away from the original structure they proposed based on the performance of the Sri Lanka economy to be measured on their much higher alternative baseline as opposed

Sri Lankan Prez Wickremesinghe instructs Cabinet to prepare for elections

Sri Lankan President Ranil Wickremesinghe has instructed his Cabinet to prepare for the presidential election to be held later this year, as the cash-starved nation strives to recover from its worst economic crisis. The next presidential election must be called by the elections commission by September and must be held by mid-November. The parliament election is not due before August of 2025 but President Wickremesinghe has the power to hold it anytime now by dissolving the 225-member Assembly elected in August 2020. Ending speculation, Wickremesinghe during a Cabinet meeting on Monday announced that the presidential election will be held first and instructed it to prepare for the polls, news portal Daily Mirror reported on Tuesday, quoting sources. Citing the Constitution, Wickremesinghe, 74, said the presidential election should take place first, and arrangements will be made accordingly. The election will be the first held after Sri Lanka plunged into a severe economic crisis in

IOR poised to become economic hub in next 50-60 years: Wickremesinghe

The Indian Ocean region is experiencing tremendous growth and is poised to become a significant economic hub in the next 50 to 60 years, Sri Lankan President Ranil Wickremesinghe has said, calling for extensive trade and economic ties between the island nation and India. Addressing a gathering at the Sri Lanka-India Society in Colombo on Thursday to mark the 76th Independence Day of Sri Lanka and the 75th Republic Day of India, Wickremesinghe said that nations such as India, Indonesia, Iran and Saudi Arabia have a greater role to play in the Indian Ocean region and they have been rapidly advancing in various aspects. "The Indian Ocean region is experiencing significant growth, with countries like India, Indonesia, Iran, and Saudi Arabia rapidly advancing in various aspects. The Indian Ocean region is poised to become a significant economic hub in the next 50 to 60 years, especially as the African region undergoes development," he said. "It is imperative that we initiate this endeavo

Sri Lanka debt restructuring makes slow progress even with 1.6% growth rate

The restructuring of Sri Lanka's external debt is to take much longer than expected, going by President Ranil Wickremesinghe's policy speech on Tuesday even though he signalled a positive shift in the cash-strapped economy with a surplus by the end 2023, first since 1977. Delivering the Statement of Government Policy' on the first day of the Fifth Session of the Ninth Parliament, Wickremesinghe said the finalisation of debt restructuring could be completed by the first half of the year, which is going beyond the earlier anticipation for it to be completed within the first quarter. The domestic debt restructuring plan has been successfully executed as the first step, and a policy agreement for restructuring has been reached with foreign creditors as the second step. Negotiations with private creditors are presently in progress, Wickremesinghe, who is also the finance minister, said. By September 2023 our total debt burden was USD 91 billion. It will take a considerable period of time

President Wickremesinghe paints positive growth in cash-strapped Sri Lanka

Projecting a positive shift in the cash-strapped Sri Lankan economy, President Ranil Wickremesinghe on Wednesday said despite negative growth through the earlier year, the nation rebounded with a 1.6 per cent growth rate in the Q3 of 2023 and also achieved a surplus by end 2023, first since 1977. President Wickremesinghe was delivering the Statement of Government Policy' on the first day of the Fifth Session of the Ninth Parliament here. Despite a 7.8 per cent GDP contraction and six consecutive quarters of negative growth in 2022, the nation rebounded with a 1.6 per cent growth rate in the Q3 of 2023, he said. Wickremesinghe further announced a significant turnaround in the nation's economic landscape. Despite the 1.9 per cent GDP deficit in 2022, the island nation has achieved a surplus by the end of 2023, marking the first such occurrence since 1977, Ada Derana website said, quoting the President as he delivered his speech streamed live. He started his address by announcing that

SL achieved economic recovery due to citizens' support: Wickremesinghe

President Ranil Wickremesinghe on Sunday said Sri Lanka has achieved progress in its economic recovery process due to the steadfast support of citizens to a comprehensive long-term national rebuilding programme despite facing hardships. Addressing the 75th anniversary of independence celebrations held here, Wickremesinghe said when the country marked Independence Day last year it was labelled bankrupt. He said progress had been achieved in the economic recovery bid owing to the steadfast support of our citizens who endured hardships in keeping with a comprehensive long-term national rebuilding programme. If we go on this road, the difficulties will fade away. The cost of living will become lighter. The economy will become stronger," Wickremesinghe stressed. Sri Lanka in April 2022 declared its first ever sovereign default since gaining independence from Britain in 1948. The crisis led Wickremesinghe's predecessor Gotabaya Rajapaksa out of office through a campaign of public agitat

Jaishankar calls on SL Prez Wickremesinghe, discusses bilateral initiatives

External Affairs Minister S Jaishankar on Saturday called on Sri Lankan President Ranil Wickremesinghe and discussed the progress of bilateral initiatives. Jaishankar is in the Ugandan capital city of Kampala to represent India at the two-day summit of the Non-Aligned Movement (NAM), which began on Friday. "Pleased to call on Sri Lankan President @RW_UNP on the sidelines of the NAM Summit in Kampala," Jaishankar posted on X. "Appreciate his continued guidance for the advancement of our bilateral initiatives. India's commitment is reflected in our Neighbourhood First and SAGAR policy," he said. India's Neighbourhood First policy guides its approach towards the management of relations with countries in its immediate neighbourhood. It is aimed at enhancing physical, digital and people-to-people connectivity across the region, as well as augmenting trade and commerce. Sri Lanka was hit by a catastrophic financial crisis in 2022, the worst since its independence from Britain in 1948, d

India, Sri Lanka discuss early launch of UPI payment system in country

Six months after it was announced by the prime ministers of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process. In July 2023, Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe signed an agreement on Unified Payments Interface (UPI) acceptance in Sri Lanka during Wickremesinghe's two-day visit to India. The latest discussion took place on Monday during a meeting between the High Commissioner of India Santosh Jha with the Governor of the Central Bank of Sri Lanka (CBSL), Dr Nandalal Weerasinghe. High Commissioner reiterated that #India will continue to be a steadfast partner in Lanka's economic recovery in his meeting with @CBSL Governor. Discussed early launch of UPI payment system in SL, growth in INR trade settlements, and India's support in Lanka's debt restructuring process, said a post on X by the High Commissioner of India

Sri Lanka Navy ready to send ship to Red Sea to protect merchant vessels

The Sri Lanka Navy on Monday said it is ready to send a naval ship to the Red Sea to combat the threat to merchant vessel lines by Houthi rebels, joining countries such as India, in protecting the key waterway for global trade. The announcement comes following last week's orders of President Ranil Wickremesinghe, who had declared the cost as Rs 250 million every fortnight. The Iran-backed Houthi rebels have launched more than 20 attacks on merchant ships in recent weeks, claiming to take revenge against Israel for its military campaign against Palestinian terror group Hamas in Gaza. These attacks have sharply raised goods' transportation costs between Asia and Europe. Newswire Lanka quoted Navy spokesman Captain Gayan Wickramasuriya as saying that but the exact date of deployment is yet to be confirmed. The vessels would be covering the Red Sea, Arabian Sea, Gulf of Aden, and connected sea lanes. Captain Wickramasuriya went on to say that initially one ship would be deployed as pa

Will deploy naval vessel in Red Sea to fight Houthi attacks: Sri Lanka Prez

President Ranil Wickremesinghe has announced that Sri Lanka will provide a Navy vessel to fight attacks by Houthi rebels on merchant ships in the Red Sea, joining countries like India in protecting the key waterway for global trade. The Iran-backed Houthi rebels have launched more than 20 attacks on merchant ships in recent weeks, claiming to take revenge against Israel for its military campaign against Palestinian terror group Hamas in Gaza. These attacks have sharply raised goods costs between Asia and Europe. Addressing an award ceremony here on Wednesday, Wickremesinghe, who holds the defence ministry portfolio, noted that merchant shipping was hit by Houthi attacks at the Red Sea and said if the ships were to be diverted and re-routed around South Africa, the voyages would become much more expensive. This could create (an) escalation of the cost of goods. "So we have agreed to send a Naval vessel to combat Houthi attacks in the Red Sea, he said. The Houthis, who control most