Colombo: Sri Lanka’s foreign exchange reserves declined again in March amid the ongoing economic and political crisis. The reserves now stand at $ 19.3 billion (Rs 1,466 crore). The central bank said on Thursday that it had lost 16.1 per cent in a month. Imports of essential commodities, including food, fuel, medicines and paper, have been further hampered.
President Gotabhaya Rajapaksa on Wednesday night appointed a new finance and economic body for matters including negotiations with the International Monetary Fund (IMF) in Sri Lanka, where the finance ministry is vacant. Appointed as the President’s Advisory Board. Indrajith Kumaraswamy, former Governor of the Central Bank of Sri Lanka; Santa Devarajan, former Chief Economist of the World Bank; The members are Sharmini Cooray, former Deputy Director, African Section. The group has responsibilities, including advising the Sri Lankan team in discussions with the IMF.
Meanwhile, Dr. Nandalal Weerasinghe has been appointed as the Governor of the Central Bank of Sri Lanka. Ajit Nirvad Cabral, who resigned as Central Bank governor yesterday, was barred from leaving the country by the Colombo Chief Magistrate’s Court on Thursday. The ban lasts until the 18th of this month. The order was issued on a public interest litigation filed by Keerthi Tennakoon alleging that he had committed several misdeeds during his tenure as governor from 2006 to 2015. Cabral, who has been the finance minister since August 2020, was re-appointed as central bank governor in September 2021.
The SJB has said it will not receive a parliamentary salary for a year and will not eat from the Parliament canteen in the wake of the country’s financial crisis. Member Harin Fernando announced.
U.S. urges postponement of Sri Lanka trip amid economic crisis and political unrest The State Department advised the citizens. The directive also warns of the possibility of terrorist attacks in crowded places such as tourist destinations, hotels and airports.
Protests erupted in various parts of the country on Thursday demanding the government step down. However, External Affairs Minister GL Peiris said that not all the demands of the protesters could be met. Pieris clarified in Parliament. He alleged that 80-85 per cent of the protesters were extremists and politically motivated.
Meanwhile, 36,000 tonnes of petrol and 40,000 tonnes of diesel arrived in Sri Lanka from India on Thursday.