Sri Lanka’s Gunathilaka charged with alleged sexual assault | Cricket News

Gunathilaka has been charged for allegedly sexually assaulting a girl in Sydney and has been taken into custody.

Sri Lankan cricketer Danushka Gunathilaka has been arrested and charged for an alleged sexual assault on a girl in Sydney, hours after the nationwide workforce misplaced to England on the Twenty20 World Cup in Australia.

Gunathilaka was dominated out of the World Cup throughout the first spherical with a hamstring damage however he remained with the workforce in Australia.

“Intercourse crimes squad detectives have charged a Sri Lankan nationwide following an investigation into the alleged sexual assault of a girl in Sydney’s east final week,” New South Wales police stated in a press release on Sunday.

Sri Lanka’s cricket board confirmed the person was 31-year-old Gunathilaka.

“Sri Lanka Cricket confirms that it was notified by the ICC that participant Danushka Gunathilaka has been arrested on the allegations of sexual assault of a girl in Sydney,” it stated in a press release.

“SLC will intently monitor the proceedings in court docket and, in session with the ICC, will expeditiously provoke a radical inquiry into the matter and take stern motion in opposition to the participant if discovered responsible.”

Police stated detectives started an investigation on Saturday after receiving experiences {that a} 29-year-old lady had been sexually assaulted at a Rose Bay house in Sydney’s jap suburbs earlier within the week.

Gunathilaka was arrested at a lodge in Sydney within the early hours of Sunday and charged with 4 counts of sexual activity with out consent.

“The pair met up in Sydney at a pre-arranged assembly,” Detective Superintendent Jane Doherty, commander of the New South Wales state Intercourse Crimes Squad, instructed reporters. “They’d drinks and went for one thing to eat earlier than going again to the younger girl’s house.

“Police will allege that while they’re within the house the male assaulted the feminine quite a few occasions while performing sexual acts upon her.”

Doherty stated the lady took steps to make sure her security, together with speaking with the person for a number of days earlier than assembly and occurring a date in a public place.

Gunathilaka was refused bail and can seem at Sydney’s Waverley Courtroom on Monday. Police say they’ll once more search to have bail refused.

Gunathilaka made his worldwide debut in 2015 and has performed eight Assessments, 47 ODIs and 46 T20s.

Rice morning, noon, and night in Sri Lanka | Fork the System

My mom is an effective cook dinner.

My father is simply barely higher. That’s how my youthful sister would at all times describe my mother and father’ meals. She’s proper. My mom cooked scrumptious curries. However my father cooked the meals we maintain expensive.

My father grew up in Nabiriththawewa, a small village in Kurunegala, about 120km (75 miles) from Colombo.

In contrast to his two older brothers who have been extra fascinated with going out with their pals, my father accompanied my grandfather to each village marriage ceremony. From what I may collect, my grandfather was the chef at each operate within the village. He had cooked to feed lots of.

“I adopted him like a thread follows the needle. That’s how I discovered to cook dinner,” my father would say.

Though I want I had met him, I by no means noticed my grandfather, he was already a distant reminiscence after I got here to this world.

A photo of lush green fields with trees in the background
A paddy area by the street in a small village in Wellawaya, 282km from Colombo [Nathan Mahendra/Al Jazeera]

Once I was eight years previous, my household lived in a small home by the rice fields in my father’s village. My father labored a tedious workplace job, commuting for hours on a passenger prepare daily.

However when he was dwelling, he would spend time doing two issues: gardening and cooking.

My father lived a frugal life so he may construct a safe future for his two daughters.

He was additionally a frugal cook dinner, making use of each ingredient so nothing in his kitchen ended up within the waste pit. He mastered the artwork of scrumptious snacks, like tub aggala, a Sri Lankan candy he makes utilizing coconut and leftover rice and that marked our teatime ritual rising up. In Sinhala, aggala are candy ball-shaped snacks and tub is cooked rice.

At dwelling, teatime was after I cycled dwelling via the rice paddies from the neighbours’ to search out my little sister nonetheless in her vibrant sequined nursery gown along with her colouring books. Outdoors, children can be flying kites as males labored within the fields and ladies in vibrant headwraps reaped golden-yellow paddy with their sharp sickles.

My mom, who was a authorities college instructor, can be simply getting up from her afternoon nap to make tea with powdered milk for us.

Throughout the week, teatime meant a cup of tea with a packet of biscuits or a loaf of white bread to dip. However on the weekends, it was my father’s tub aggala, eaten as we sat on the verandah watching the world. Typically, my mother and father would inform us about their childhood. Or we might simply watch colonies of bats dart throughout the night sky as night time fell, and giggle over one thing my little sister mentioned.

As I look again on these teatimes spent at dwelling, I miss the sounds and hues of these evenings that held us collectively, and the style of my father’s tub aggala.

A photo of someone's hands as they add coconut to rice
Roasting for about 20 minutes offers aggala a brown color and nutty style, which is how my father makes it [Nathan Mahendra/Al Jazeera]

It is just now that I perceive that, for my father, tub aggala was greater than candy rice balls he made for his household. For him, it was taking advantage of rice: a grain beloved to him and all Sri Lankans.

The beloved grain

“Udetath tub, dawaltath tub, retath tub” is a well-liked Sinhala saying which means “Rice for the morning, afternoon, and night time.”

Nothing displays the essence of my island and other people higher than that. Rice shouldn’t be solely the principle staple for Sri Lankans, it’s greater than that.

In island kitchens, rice boils daily in clay pots over firewood or steams in electrical rice cookers. A pot of steamed rice dominates our tables usually, paired with different dishes and condiments. When rice shouldn’t be cooked this fashion for breakfast or dinner, one other rice-based meals blesses our empty plates.

It could possibly be kiribath, a sticky mix of rice and coconut milk eaten for breakfast. Or rice flour is used to make idi appa or idiyappam, discs of steamed skinny noodles. Or appa or appam, bowl-shaped snacks with crispy edges and fluffy centres. Or dosa, skinny, crisp flatbreads made with a fermented rice-lentil combine. Or levariya, sweet-savoury pockets of rice noodles crammed with caramelised coconut.

We use soaked, floor rice to organize sweetmeats for our New Yr each April and when visitors come over, we cook dinner rice with aromatics like curry leaves and cinnamon and garnish it with crunchy cashews to organize golden kaha tub.

When meals is scarce, households soak leftover rice to eat within the morning with kiri hodi, a turmeric-infused coconut gravy soured with lime. This modest meal was my father’s favorite breakfast, paired with recent inexperienced chilli.

Rice feeds us, builds us, and shapes us in some ways. This humble grain that thrives within the mud holds a spot in each Sri Lankan meal and has crept into each nook and cranny of our society.

Laid out on a banana leaf are a coconut, a bowl of shredded coconut, two trays of dry rice and a bowl of cooked rice
Components for tub aggala. Clockwise from the best: leftover sundried rice, grated coconut, cooked and raw rice, and a coconut [Nathan Mahendra/Al Jazeera]

Rice has a big share of the island’s agriculture, frames its economic system, and unpacks our historical past. And our love for it has given start to a bunch of flavourful dishes.

I discovered how rice grew once we moved to our father’s village. Paddy – the phrase for the plant and the grain earlier than eradicating the hull – flourished within the fields because of the farmers toiling within the solar.

My father grew paddy in a small area inherited from his mother and father, which grew sufficient rice for us. Whereas he readied the sphere, I’d run behind him, getting my toes muddy. A few times, I helped him plant seedlings.

The earliest stone carving of paddy cultivation in Sri Lanka dates again to 939-940 AD, says Professor Buddhi Marambe, who specialises in weed science and meals safety. Historical Sri Lankan rulers constructed reservoirs to harness rainwater whereas folks developed and preserved rice varieties for greater than 3,000 years.

However when the island was colonised by the British in 1815, money crops like tea and rubber have been imposed on farmers to generate income for the colonisers. British propaganda campaigns additionally inspired folks to exchange rice with wheat of their eating regimen. “By the Forties, Sri Lanka needed to import 60 % of the rice wanted for the nation’s meagre six million inhabitants,” says Marambe.

Within the following a long time, refined wheat flour and white bread rose in recognition whereas native rice was changed by high-yield varieties to maintain the rising inhabitants – varieties that wanted chemical fertilisers and pesticides.

A young farmer walks smiling down a dirt path towards the photographer, with a hill in the background set against a bright blue sky
A toddler walks to the fields with a Mammootty to assist his mother and father in Pussellayaya, a village by the Wasgamuwa Nationwide Park [Nathan Mahendra/Al Jazeera]

In 2020, there was sufficient domestically produced rice to feed Sri Lanka’s inhabitants of 21 million, Marambe says. However the then-government abruptly banned artificial fertilisers in April 2021, forcing farmers to show to natural fertilisers they weren’t used to. Farmers misplaced their harvest, and plenty of abandoned their rice fields.

By the point the ban was lifted in November final yr, Sri Lanka didn’t have sufficient overseas foreign money to import chemical fertilisers and pesticides. The arduous foreign money scarcity additionally resulted in a gasoline disaster, and farmers should pay extra now for reaping and threshing machines.

“Most individuals [in our village] are abandoning their fields now,” my mom mentioned after I rang her just lately. “The machine is charging 240 rupees [$0.66] per minute. They’ll’t afford it.”

Sri Lanka’s future rice manufacturing now is dependent upon a crippled economic system and tentative overseas loans that will or might not come.

Previously, leftover rice was thought of “poor man’s meals”, so folks stopped consuming meals like diya tub (fermented rice porridge with coconut milk) for breakfast, reaching for refined white bread slathered in preservative-laden bottled jam as an alternative.

However, in June, meals inflation was greater than 60 % in Sri Lanka and has since saved climbing. Costs soar every day, and most low-income households eat only one or two meals a day. As folks rethink their meals decisions, frugal cooking has made a comeback.

My mother and father not purchase biscuits or white bread. A packet of biscuits that value 200 Sri Lankan rupees ($0.55) per week in the past is now 600 rupees ($1.65). “Who would pay that a lot for biscuits,” my mom mentioned. She needs me to deliver her some from India, the place I’m at the moment travelling.

My father makes tub aggala extra usually now. It’s a dish he discovered to make by watching his mother and father and older sisters, he informed me just lately on the telephone.

On a banana leaf is a coconut, a bowl of shredded coconut and a tray of bath aggala
‘For my father, tub aggala is meals safety. It’s minimising waste,’ writes Rathnayake [Nathan Mahendra/Al Jazeera]

When my father was a young person, Sri Lanka was battling drought and an financial disaster within the Nineteen Seventies. Regardless that his household had land to develop rice, there wasn’t sufficient water. So my grandparents made probably the most of what was accessible.

“They informed us by no means to throw away rice, not even a single grain of it,” my father mentioned. “Once I noticed just a little boy digging in a dustbin for meals in school, I realised what it means to have meals on the desk.”

Rice and coconuts

I don’t keep in mind us ever shopping for rice. Even after I left dwelling to stay in Colombo, my mother and father would go to me with tightly packed grocery baggage of rice from my father’s fields. However just lately after I referred to as dwelling, my mom mentioned she might need to purchase rice for the primary time in her life.

“The [threshing] machine will solely come if we give them diesel,” my mom mentioned. “And we will’t get diesel.”

Many households within the village are actually consuming diya tub within the morning, my mom mentioned.

Making diya tub entails a couple of steps when you, like my father, wish to eat it scorching. Many individuals eat diya tub chilly, which is quicker.

If there’s rice left over after dinner, my father soaks it in water, letting it soak in a single day and draining it the following morning. Then he heats up the coconut milk in a pot, provides dried crimson chilli, curry leaves, onion, salt, half a teaspoon of turmeric powder, and Maldive fish flakes (dried, cured tuna fish), and lets it simmer.

A bowl of rice sits next to a bowl of diya bath toppings
Diya tub  as my father eats it with kiri hodi, served heat [Nathan Mahendra/Al Jazeera]

For sourness, he squeezes in half a lime or provides a couple of pods of darkish brown sun-dried tamarind. (This concoction alone is named kiri hodi). When it’s prepared, my father pours it, piping scorching, onto a bowl of rice and eats it with recent inexperienced chilli and, generally, fried dried fish.

Chilly diya tub is a no-cook meal: combine two cups of coconut milk with one cup of soaked rice. Then add thinly-sliced crimson onion, two tablespoons of lime juice, three-four roasted dried crimson chillies, one teaspoon of grated Maldive fish, and salt to style. When you prefer it sourer, squeeze in some extra lime juice.

Some folks like recent inexperienced chilli as an alternative of dried crimson chilli. Maldive fish is optionally available, nevertheless it provides a pleasant umami punch. Many elders consider that diya tub, with its fermented rice and coconut milk, cools the physique and prevents heartburn.

Talking of coconut milk, after I make diya tub, I attain for coconut milk that is available in sealed cardboard containers however my mother and father have by no means purchased coconut milk of their life, they make it. My father plucks coconuts from our backyard, removes the fibrous outer husk, halves the nut, and scrapes it with a hiramanaya – a conventional grater with a wood seat for the individual to sit down whereas grating. He mixes the grated coconut with water, squeezing it a number of occasions along with his palms to make coconut milk.

Making coconut milk is laborious, however my mother and father nonetheless do it. If rice is our staple, coconut is its mate. It thickens our curries, binds our sambals, flavours our meals, and balances meals with wholesome fat. Coconuts additionally make our condiments richer to pair with humble rice.

A farmer drives a tractor in a muddy field as white birds flutter nearby
A tractor at work, ploughing the fields for paddy cultivation in Pussellayaya, by the Wasgamuwa Nationwide Park [Nathan Mahendra/Al Jazeera]

Greater than aggala

Whereas folks normally boil recent rice for aggala, my father soaks leftover rice to make sugary, coconutty balls with a slight crunch. For him, tub aggala is meals safety. It’s minimising waste.

To make this teatime snack, he ferments leftover cooked rice in a single day in water. Within the morning, he drains and sun-dries the rice till it’s crisp, then roasts it for about 20 minutes in a skillet on a low flame, till it turns brown.

Once I made tub aggala just lately, I roasted the rice for 5 to eight minutes and switched off the range earlier than it modified color, so it stayed white. Do as you want, roasting for longer offers aggala a  golden-brown color and nutty flavour.

Utilizing a pestle and mortar, my father grinds the nice and cozy, roasted rice till he will get an uneven texture with items of damaged rice that add a pleasant crunch. You should utilize an electrical grinder as I do, simply don’t grind it into powder.

Take 250g of this floor rice and add about 100g of grated coconut, half a cup of sugar, half a teaspoon of salt, and half a cup of water. Combine it properly along with your palms and form it into little balls. Some folks want a little bit of a spice kick to their aggala, which is definitely achieved by sprinkling a touch of black pepper into the combination.

As soon as prepared, at all times serve with a cup of tea.

A view of palm trees on the far shore of a river with two colourful boats docked to the shore
Like rice, coconut makes up a big chunk of Sri Lankan delicacies. Picture taken in Koggala [Nathan Mahendra/Al Jazeera]

My father’s tub aggala is an affidavit to Sri Lanka’s longstanding relationship with rice. It bears witness to the island’s usually troubled historical past and current, twisted and framed by politics and financial pursuits.

The street to restoration is lengthy. However for now, I’d wish to be lulled into candy teatimes at dwelling. One tub aggala at a time.

Sri Lanka kicks off process to choose new president | News

The Sri Lankan parliament met on Saturday to start selecting a brand new chief to serve the remainder of the present time period after the president fled overseas and resigned following mass protests over the nation’s financial collapse.

Parliament Speaker Mahinda Yapa Abeywardena promised a swift and clear political course of that must be accomplished inside per week.

Prime Minister Ranil Wickremesinghe was sworn in on Friday as interim president till parliament elects a successor to Gotabaya Rajapaksa, whose time period ends in 2024.

Protesters within the crisis-hit island nation, nevertheless, insist the six-time prime minister too ought to step apart. The brand new president may appoint a legislator to interchange Wickremesinghe.

Nominations for the presidential publish will likely be heard on Tuesday, the parliament’s secretary basic Dhammika Dasanayake mentioned throughout a short session. If there may be a couple of candidate for the president, the legislators will vote on Wednesday.

Interactive - Who is Gotabaya Rajapaksa?

Rajapaksa resignation letter

President Rajapaksa, 73, fled to the Maldives after which to Singapore this week to flee a well-liked rebellion towards his authorities.

Through the proceedings, Dasanayake additionally formally learn out Rajapaksa’s resignation letter, the contents of which haven’t beforehand been made public.

In his letter, Rajapaksa mentioned Sri Lanka’s monetary disaster was rooted in years of financial mismanagement that predated his presidency, together with the COVID-19 pandemic that drastically diminished Sri Lanka’s vacationer arrivals and remittances from overseas staff.

“It’s my private perception that I took all attainable steps to deal with this disaster, together with inviting parliamentarians to kind an all-party or unity authorities,” the letter mentioned.

The protesters accuse Rajapaksa and his highly effective political household of siphoning cash from authorities coffers and of hastening the nation’s collapse by mismanaging the economic system.

The household has denied the corruption allegations, however Rajapaksa acknowledged a few of his insurance policies contributed to Sri Lanka’s meltdown.

Heightened safety

Safety across the parliament constructing within the capital, Colombo, was elevated on Saturday with armed masked troopers on guard and roads close to the constructing closed to the general public.

Greater than 100 police and safety personnel with assault rifles have been deployed on the strategy highway to parliament.

Al Jazeera’s Minelle Fernandez, reporting from Colombo, mentioned cops have been manning barricades and a water cannon to forestall any unrest, although protesters had but to reach.

“The protesters appear to be adopting a wait-and-see strategy to marshal up their energies and sources, as a result of they are saying they’re in it for the lengthy haul,” Fernandez mentioned.

In a televised assertion on Friday, Wickremesinghe mentioned he would provoke steps to vary the structure to curb presidential powers and strengthen parliament, restore regulation and order, and take authorized motion towards “insurgents”.

It was unclear to whom he was referring, though he mentioned true protesters wouldn’t have gotten concerned in clashes on Wednesday evening when many troopers reportedly have been injured.

“There’s a large distinction between protesters and insurgents. We’ll take authorized motion towards the insurgents,” he mentioned.

The Sri Lankan army warned on Thursday it had the powers to reply in case of chaos, in a message some discovered ominous.

Sri Lanka army soldiers stands guard near the parliament building in Colombo.
Safety was tightened in capital Colombo after protesters stormed the parliament constructing [File: AFP]

‘Elective dictatorship’

In the meantime, opposition presidential nominee Sajith Premadasa promised to “take heed to the folks” and to carry Rajapaksa accountable if he wins.

In an interview with The Related Press, Premadasa mentioned he would be sure that “an elective dictatorship by no means, ever happens” in Sri Lanka.

“That’s what we should always do. That’s our operate – catching those that looted Sri Lanka. That must be finished via correct constitutional, authorized, democratic procedures,” he mentioned.

Sri Lanka has run in need of cash to pay for imports of fundamental requirements resembling meals, fertiliser, drugs and gas for its 22 million folks, with days-long gas queues turning into the norm.

International alternate reserves have dwindled to shut to zero and headline inflation hit 54.6 % final month.

Avenue protests over the financial meltdown simmered for months earlier than boiling over final week when tens of 1000’s of individuals occupied vital authorities buildings, together with the official residence of the president.

Vitality minister Kanchana Wijesekera mentioned the primary of three gas shipments was acquired on Saturday – the primary cargo to succeed in the nation in about three weeks.

A second diesel consignment will even arrive on Saturday, with a cargo of petrol due by Tuesday. “Funds accomplished for all 3,” the minister mentioned in a tweet.

Sri Lanka president flees country amid political, economic crisis | Politics News

Gotabaya Rajapaksa, who was resulting from resign, flew together with his spouse to the Maldives on a navy airplane early on Wednesday morning.

Sri Lankan President Gotabaya Rajapaksa has fled the nation, hours earlier than his promised resignation amid widespread protests over his dealing with of the nation’s worst financial disaster since independence in 1948.

Rajapaksa, his spouse and two bodyguards flew on a Sri Lankan Air Drive airplane to Male, the capital of the Maldives, information businesses reported citing unnamed authorities and immigration officers.

He arrived in Male early on Wednesday morning, the AFP information company reported.

The president had stated he would resign on Wednesday after tens of hundreds of protesters stormed his official residence demanding he step down.

Rajapaksa, who helped finish the nation’s long-running civil struggle as defence secretary throughout his elder brother’s administration greater than a decade in the past, was elected president in 2019 promising safety and stability.

However because the nation started operating out of gas, meals and medicines as authorities coffers depleted, the president was accused of financial incompetence, and public opinion turned towards each Gotabaya and the broader Rajapaksa household who’ve dominated Sri Lankan politics for practically 20 years.

Rajapaksa, accused of struggle crimes and different human rights abuses, enjoys immunity from arrest whereas in workplace. It’s believed he wished to go overseas earlier than stepping all the way down to keep away from the potential of being detained.

The nation’s parliament is because of maintain a vote on selecting a brand new president on July 20.

Photos: All that happened in Sri Lanka on big day of protests | Protests News

Outrage over Sri Lanka’s collapsing economic system got here to a boil on Saturday when tens of 1000’s of protesters stormed the colonial-era residence of President Gotabaya Rajapaksa and later set the prime minister’s home on hearth.

The protesters, many holding the Sri Lankan flag, swarmed into Rajapaksa’s colonial-era fortified residence and the presidential secretariat.

Video photographs confirmed jubilant crowds splashing within the backyard pool, mendacity on beds and utilizing their cell phone cameras to seize the second.

Some made tea, whereas others issued statements from a convention room demanding that the president and the prime minister go for mismanaging the nation’s funds, and for the crippling meals and gas shortages.

The protesters later broke into Prime Minister Ranil Wickremesinghe’s non-public residence and set it on hearth.

Rajapaksa and Wickremesinghe weren’t of their residences when the buildings had been attacked.

The occasions on Saturday had been the fruits of months of anti-government protests fuelled by an unprecedented financial disaster that bankrupted the South Asian island nation.

Safety forces tried to disperse the large crowds that had mobbed Colombo’s administrative district earlier within the day, with dozens injured within the ensuing clashes.

A spokeswoman for Colombo’s essential hospital stated three individuals had been being handled for gunshot wounds, together with 36 others struggling respiration difficulties after being caught up in tear fuel barrages.

Wickremesinghe introduced his resignation however stated he wouldn’t step down till a brand new authorities is shaped, angering protesters who demanded his speedy departure.

Sri Lanka has suffered via months of shortages of primary items, prolonged blackouts and galloping inflation after working out of international foreign money to import requirements.

The federal government has defaulted on its $51bn exterior debt and is looking for an Worldwide Financial Fund bailout.

Sri Lanka hikes fuel prices, hires financial and legal advisers | Business and Economy News

Sri Lanka has elevated gasoline and transport costs, a long-flagged transfer to fight its debilitating financial disaster, however the hikes are certain to exacerbate galloping inflation, a minimum of within the brief time period.

Energy and vitality minister Kanchana Wijesekera mentioned in a message on Twitter on Tuesday that petrol costs would improve by 20-24 p.c whereas diesel costs would rise by 35-38 p.c with speedy impact.

“Cupboard additionally authorized the revision of transportation and different service costs accordingly,” he mentioned.

Wijesekera mentioned additionally that individuals could be inspired to earn a living from home “to reduce the usage of gasoline and to handle the vitality disaster” and that public sector officers would work from workplace solely when instructed by the pinnacle of the establishment.

Meals and transport value will increase will circulation by way of to meals and different items, economists mentioned.

Annual inflation within the island nation rose to a file 33.8 p.c in April in contrast with 21.5 p.c in March, in keeping with authorities knowledge launched on Monday.

Sri Lanka is within the throes of its worst financial disaster since independence, as a dire scarcity of overseas trade has stalled imports and left the nation in need of gasoline, medicines and hit by rolling energy cuts.

The monetary bother has come from the confluence of the COVID-19 pandemic battering the tourism-reliant financial system, rising oil costs and populist tax cuts by the federal government of President Gotabaya Rajapaksa and his brother, Mahinda, who resigned as prime minister this month.

Economists have mentioned gasoline and energy value hikes shall be essential to plug a large hole in authorities revenues, however agree that it’s going to result in short-term ache.

Dhananath Fernando, an analyst for Colombo primarily based think-tank Advocata Institute, mentioned costs of petrol have soared 259 p.c since October final 12 months and diesel by 231 p.c. Costs of meals and different important items have surged, he mentioned.

“Poor individuals would be the most affected by this. The answer is to ascertain a money switch system to help the poor and improve effectivity as a lot as attainable.”

Prime Minister Ranil Wickremesinghe, appointed instead of Mahinda Rajapaksa earlier this month after violence broke out between authorities supporters and protesters, mentioned final week: “Within the brief time period we must face an much more tough time interval. There’s a risk that inflation will improve additional.”


Renegotiate debt

The value hike comes at a time when Sri Lanka has employed heavyweight monetary and authorized advisers Lazard and Clifford Probability because it prepares for the tough process of renegotiating its money owed, Reuters reported, citing three unnamed sources because the talks are nonetheless non-public.

Spokespeople from Sri Lanka’s cupboard and Lazard, which has dealt with debt talks for dozens of crisis-strained nations lately, didn’t instantly reply to requests for remark whereas legislation agency Clifford Probability declined to remark.

Consultants and economists have been ready for the appointment because the nation appears to be like to restructure greater than $12bn of abroad debt that had been increase for years however develop into unsustainable when COVID-19 hammered the financial system.


“By far crucial factor is to what extent the federal government may have the political will, and the power, to ship on the pre-conditions for the IMF programme,” mentioned Gramercy’s co-head of sovereign analysis & technique, Petar Atanasov.

“Governments are sometimes prepared to do the issues which can be required when their backs are fully in opposition to the wall.”

Whereas there are hopes a deal might be struck to ease the financial disaster, it’s unlikely to be simple.

A mixture of loans from China, India and Japan, in addition to all of the bonds held by non-public funding funds imply long-resisted however now embraced talks with the Worldwide Financial Fund (IMF) could possibly be complicated, particularly if social unrest worsens.

A gaggle of Sri Lanka’s largest sovereign greenback bondholders has employed Rothschild as its monetary adviser and one other authorized agency, White & Case, as its authorized adviser.

“I feel the brand new cupboard would actually have to point out fast options to actually urgent issues equivalent to electrical energy and importation of products to pacify the individuals,” mentioned Carlos de Sousa, an rising market strategist at Vontobel Asset Administration which holds Sri Lanka’s bonds.

“They’ll strive, however it’s not clear to me whether or not they are going to be sufficiently profitable. We’ll see.”

Sri Lanka mulls privatizing national airline amid crisis | Business and Economy News

Sri Lanka’s new prime minister proposed privatizing the nation’s loss-making nationwide airline because the nation tries to claw out of its worst financial disaster in a long time.

Sri Lanka’s new prime minister on Monday proposed privatizing the nation’s loss-making nationwide airline as a part of reforms geared toward fixing the nation’s worst financial disaster in a long time.

Prime Minister Ranil Wickremesinghe mentioned in a message to the people who he plans to suggest a particular reduction finances that may take the place of the development-oriented finances earlier authorised for this 12 months. He mentioned it might channel funds beforehand allotted for infrastructure improvement to public welfare.

He mentioned the nation’s monetary well being is so poor that the federal government has been compelled to print cash to pay the salaries of presidency staff and purchase different items and companies.

President Gotabaya Rajapaksa appointed Wickremesinghe as prime minister final Thursday in a bid to quell the island nation’s political and financial disaster.

The president’s brother, Mahinda Rajapaksa, stepped down as prime minister on Might 9 amid violence that left 9 folks useless and greater than 200 wounded. Protesters have demanded the highly effective Rajapaksa household resign to take accountability for main the nation into the financial disaster.

For months, Sri Lankans have been compelled to attend in lengthy traces to purchase scarce imported necessities corresponding to medicines, gas, cooking gasoline and meals due to a extreme scarcity of overseas foreign money. Authorities revenues have additionally plunged.

Wickremesinghe mentioned Sri Lankan Airways misplaced about $123m within the 2020-2021 fiscal 12 months, which led to March, and its mixture losses exceeded $1bn as of March 2021.

“Even when we privatize Sri Lankan Airways, this can be a loss that we should bear. You have to be conscious that this can be a loss that have to be borne even by the poor folks of this nation who’ve by no means stepped on an airplane,” Wickremesinghe mentioned.

Sri Lankan Airways was managed by Emirates Airways from 1998 to 2008.

Sri Lanka is almost bankrupt and has suspended compensation of about $7bn in overseas loans due this 12 months out of $25bn to be repaid by 2026. The nation’s complete overseas debt is $51bn. The finance ministry says the nation presently has solely $25m in usable overseas reserves.

Wickremesinghe mentioned about $75bn is required urgently to assist present folks with important objects, however the nation’s treasury is struggling to search out even $1bn.

Shortages of medicines are so acute that it’s troublesome to purchase anti-rabies medicines and medicines to deal with coronary heart illness, he mentioned.

“I’ve no want to cover the reality and to mislead the general public. Though these information are disagreeable and terrifying, that is the true state of affairs. For a brief interval, our future will probably be much more troublesome than the robust instances that we’ve got handed,” Wickremesinghe mentioned.

“We’ll face appreciable challenges and adversity. Nonetheless, this era won’t be lengthy,” he mentioned, including that international locations with which he has spoken have pledged to assist in the following few months.

Wickremesinghe is struggling to type a brand new cupboard, with many events reluctant to affix his authorities. They are saying Wickremesinghe’s appointment goes in opposition to custom and the folks’s will as a result of he was defeated in 2020 elections and joined parliament solely via a seat allotted to his celebration.

Nonetheless, events have mentioned they are going to help constructive measures by Wickremesinghe to enhance the economic system whereas they continue to be within the opposition.

The principle opposition United Individuals’s Power celebration has launched a no-confidence movement in opposition to the president for “not having correctly exercised, carried out and discharged the powers of the president underneath the structure”.

The movement, to be taken up Tuesday, accuses Rajapaksa of being chargeable for the financial disaster by introducing premature tax cuts and prohibiting using agrochemicals, which resulted in crop failures.

Passage of the movement wouldn’t legally bind Rajapaksa to stop, however his refusal to take action might intensify anti-government protests and rock negotiations with different international locations on financial support. A problem of Wickremesinghe’s appointment might additionally endanger the negotiations, which he leads.

How Sri Lanka spiralled into crisis and what happens next | Protests News

Sri Lanka’s financial disaster has was deadly violence, which has killed eight individuals and wounded greater than 200 thus far.

The nation’s highly effective Prime Minister Mahinda Rajapaksa has resigned and his youthful brother, President Gotabaya Rajapaksa, is searching for a approach out of the chaos.

Anti-government protesters, indignant over energy blackouts, shortages of fundamental items and rising costs, are demanding that the president also steps down, however the retired army officer has invoked emergency powers in an try to keep up management.

The violence and political chaos gripping the island nation of twenty-two million comes 13 years after a brutal civil struggle led to a bloody denouement wherein tens of hundreds of individuals had been killed.

Army members travel on an armoured car on a main road in Colombo, Sri Lanka.
Sri Lankan military troopers are seen on an armoured automobile in Colombo [Dinuka Liyanawatte/Reuters]

India, Sri Lanka’s northern neighbour, has prolonged billions of {dollars} in loans to assist the nation pay for important provides.

China, which has lately invested closely in infrastructure tasks in Sri Lanka – in what analysts say is an try to increase its affect throughout Asia – has intervened much less publicly however stated it supported efforts for the island nation to restructure its debt.

Sri Lanka’s important negotiations with the Worldwide Financial Fund (IMF) over a rescue plan, in addition to plans to restructure its sovereign debt, could possibly be thrown into disarray.

How did it come to this?

A lot of the general public ire has been directed on the Rajapaksa brothers, who’re blamed by the protesters for main the nation into the financial disaster.

Analysts say financial mismanagement by successive governments weakened Sri Lanka’s public funds, leaving nationwide expenditure in extra of its revenue and the manufacturing of tradable items and providers at insufficient ranges.

The state of affairs was exacerbated by deep tax cuts by the Rajapaksa authorities quickly after it took workplace in 2019.

Months later, the COVID-19 pandemic struck, wiping out a lot of Sri Lanka’s income base, most notably from the profitable tourism industry. Remittances from nationals working abroad dropped over the identical interval and had been additional sapped by an rigid international alternate fee.

Ranking companies, involved about authorities funds and its incapacity to repay giant international debt, downgraded Sri Lanka’s credit score scores from 2020 onwards, ultimately locking the nation out of worldwide monetary markets.

To maintain the financial system afloat, the federal government leaned closely on its international alternate reserves, eroding them by greater than 70 % in two years.

“Communication by the federal government was very poor, and folks weren’t ready for this dire state of affairs we had been in,” Ganeshan Wignaraja of the Abroad Growth Institute advised Al Jazeera.

Who’re the Rajapaksa brothers?

The nationwide protests are demanding the elimination of the Rajapaksa brothers – a dramatic change in fortune for Sri Lanka’s strongest political dynasty.

Mahinda and Gotabaya Rajapaksa had been cheered as heroes in 2009 by the island’s Buddhist-Sinhalese majority for ending a 30-year civil struggle towards ethnic Tamil rebels.

Regardless of accusations of struggle atrocities, they amassed nice reputation – Mahinda, who as president on the time oversaw the top of the struggle, and Gotabaya, a army strategist whose brutal marketing campaign helped crush the rebels.

A strong land-owning household from a rural southern district, the Rajapaksas dominated native elections for years earlier than ascending to nationwide politics in 2005 when Mahinda was elected president. He remained in energy till 2015 when he was defeated by the opposition led by a former aide.

Following the 2019 Easter bombings, the household returned to energy beneath Gotabaya, who ran for president on a nationalist marketing campaign that gained over voters disillusioned by the earlier authorities over the assaults.

Critics have accused the Rajapaksas of relying closely on the army to implement coverage, passing legal guidelines to weaken impartial establishments and sustaining a near-monopoly on resolution making. Three different Rajapaksa members had been within the cupboard till early April when the total cupboard resigned over the protests.

Mahinda’s resignation on Monday is a partial victory for the demonstrators. With the protests persevering with, particularly outdoors the president’s workplace, there may be renewed stress on the president to stop too.

What did the federal government do?

Regardless of the quickly deteriorating financial surroundings, the Rajapaksa authorities initially held off talks with the IMF.

For months, opposition leaders and monetary specialists urged the federal government to behave however it held its floor, hoping for tourism to bounce again and remittances to recuperate.

Ultimately, conscious of the size of the brewing disaster, the federal government did search assist from international locations together with India and China, regional superpowers who’ve historically jostled for affect over the strategically situated island.

In all, New Delhi says it has supplied help value over $3.5bn this 12 months.

Earlier in 2022, President Rajapaksa requested China to restructure repayments on round $3.5bn of debt owed to Beijing, which in late 2021 additionally supplied Sri Lanka with a $1.5bn yuan-denominated swap.

Sri Lanka ultimately opened talks with the IMF final month.

Regardless of outdoors help, gas shortages have induced lengthy queues at filling stations in addition to frequent blackouts, and a few essential medicines have run low.

“To get the nation again to some sense of normalcy, we have to urgently have a authorities in place, in order that the regulation enforcement officers can management these mobs as a result of in any other case, they might go berserk,” member of parliament Harsha De Silva advised Al Jazeera.

Sri Lankan enterprise teams are additionally leaning on the nation’s politicians to discover a answer rapidly.

In an announcement on Tuesday, the Joint Attire Affiliation Discussion board, which represents Sri Lanka’s important attire trade, stated it was “crucial” for a brand new authorities to take cost.

Police use a water canon and tear gas to disperse university students protesting
Police use a water cannon and tear gasoline to disperse college college students demanding the resignation of President Gotabaya Rajapaksa in Colombo on Could 6 [Ishara S Kodikara/AFP]

What occurs subsequent?

President Rajapaksa is with out a prime minister and cupboard, which dissolved mechanically after his brother resigned.

He can now choose a member of parliament to change into the following prime minister and kind a cupboard. His alternative will want the help of a majority of the 225-member legislature. It’s unclear whether or not he nonetheless has sufficient backing in parliament for his candidate to be accepted.

The president might try to kind a unity authorities, however it’s going to doubtless be tough to persuade opposition members to affix.

If the president does resign whereas there isn’t any prime minister, the speaker of parliament will change into interim president for one month, throughout which parliament is to pick a member to change into president till an election will be held.

Additionally, a parliamentary movement to question Rajapaksa wouldn’t be simple. It will want the endorsement of the parliament’s speaker, the Supreme Courtroom and the help of at the least 150 lawmakers. Opposition events don’t maintain a majority in parliament, making the method even tougher.

Within the 45 years that Sri Lanka has been dominated by an government presidential system, there was one failed try to take away a president. The structure offers the president broad powers as commander-in-chief of the armed forces and head of the cupboard, in addition to the ability to nominate the chief justice, police chief and others.

The president, regardless of his intensive powers, nonetheless wants a main minister and cupboard to hold out government features. The continued uncertainty over the president’s subsequent strikes and the executive vacuum has raised fears of a army takeover, particularly if violence escalates.

Photos: After PM, Sri Lanka protesters now want president to quit | Gallery News

Defying a nationwide curfew in Sri Lanka, tons of of protesters proceed to chant slogans towards the federal government a day after the resignation of Prime Minister Mahinda Rajapaksa.

The premier is blamed, alongside together with his youthful brother, President Gotabaya Rajapaksa, for main the nation into its worst financial disaster since gaining independence in 1948.

Protesters swarmed the doorway to the president’s workplace in Colombo for the thirty second day to demand that he comply with in his brother’s footsteps and give up.

The location outdoors Rajapaksa’s workplace has seen sustained crowds of hundreds for weeks however had dropped to some hundred on Tuesday on account of a strict curfew following Monday’s clashes.

Native tv visuals confirmed anti-government protesters shouting slogans for the president to resign and in addition rebuilding tents broken in Monday’s assault.

A authorities decree issued on Monday evening confirmed Mahinda Rajapaksa’s resignation, which got here after violence erupted in entrance of the Rajapaksas’ places of work as supporters of the governing get together hit the protesters with picket and iron poles.

Authorities swiftly deployed armed troops in lots of components of the nation and imposed a curfew till Wednesday.

The ambush by the supporters triggered quick anger and chaos, as individuals began attacking the governing get together politicians. Greater than a dozen homes belonging to them have been vandalised and set ablaze.

At the least seven individuals, together with a governing get together legislator, have been killed and greater than 225 have been wounded in Monday’s violence.

“Individuals are nonetheless not joyful. They are saying we began this complete course of as a result of we are saying that the Rajapaksas need to go residence,” Al Jazeera’s Minelle Fernandez stated in her report from Colombo.

What’s the way out of Sri Lanka’s economic crisis? | Politics

Video Period 24 minutes 15 seconds

From: Inside Story

President Gotabaya Rajapaksa has declared one other state of emergency. 

The island nation of Sri Lanka is in disaster. There have been meals and gasoline shortages for weeks and energy cuts have turn into the brand new norm.

Many say they’re struggling to get by and so they blame the federal government for mishandling the financial state of affairs – calling on President Gotabya Rajapaksa to resign.

There was a common strike on Friday that shut down a lot of the nation.

In response, the president’s workplace re-imposed a state of emergency – saying it was wanted to “guarantee public order”.

However what introduced the nation to this unprecedented state of affairs?

Presenter: Adrian Finighan


Bhavani Fonseka – Senior researcher and lawyer with the Centre for Coverage Options

Ahilan Kadirgamar – Political economist and senior lecturer on the College of Jaffna

Jehan Perera – Govt director of the Nationwide Peace Council of Sri Lanka