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Just a few years ago, the health service in our country was among the best in the world. Our country provided free medical examination, hospitalisation, and medicines, not only to all of our citizens but even to foreign visitors irrespective of their wealth or social standing. The medicines provided were of high quality.
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Our country is gradually pulling itself out of the financial crisis of yester-year. Even though the foreign debt restructing process is not complete, government has pushed ahead with the domestic debt restructuring....
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A year ago, on July 9th, hundreds of thousands of Sri Lankans, dispossessed by the economic destruction unleashed by a government they elected not long ago, descended on the Capital, Colombo. They stormed the President’s House while President Gotabaya Rajapaksa was hurriedly evacuated to a waiting naval ship. Three days later, Rajapaksa resigned
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Speaker Mahinda Yapa Abeywardena on Thursday named a 14-member Parliamentary Select Committee (PSC) under the Chairmanship of MP Sagara Kariyawasam, the General Secretary of the ruling Sri Lanka Podujana Peramuna (SLPP), to probe the country’s financial bankruptcy.
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July 2023 marks the 40th anniversary of ‘Black July,’ acknowledged as the most horrific episode of ethnic violence in Sri Lanka. Around 300-450 lives were lost, more than 40,000 people were reduced to refugee....
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Our country’s external debt obligations in 2022 exceed US$7 billion. But the country’s forex reserves as of March 2022 is just US$1.6 billion. In April, the country announced a default on all its foreign debt and said it would seek an IMF bailout.
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The private sector workers of Sri Lanka are required by law to transfer 23% of their incomes to the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF) every month, towards their retirement savings. The EPF is managed by a special division within the Central Bank of Sri Lanka (CBSL), and the Monetary Board of CBSL is tasked with overall stewardship of the Fund.
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Parliament on Saturday approved a domestic debt restructuring program that would rework nearly half of the country’s US$ 42.1 billion domestic debt. The plan covered US$ 19.5 billion of Domestic debt in Treasury...
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This article focuses on the evergreen ‘Dingiri Dingaale’ song from the Tamil film ‘Anbu Engey?’ (Where is love?) that was first screened 65 years ago. Although a Tamil film song, the number was hugely popular among Sinhalese too. I have written about this song in my blog earlier.
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With the restructuring program, Governor of Central Bank and Government has confirmed that there is no impact for the existing members’ balances and assured to release the fund on claim by members. Also guaranteed 9% annual interest to be paid within next two years and decide the interest rate according to the investment returns of future years.
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Since the violent birth of Israel on May 14, 1948, in what was originally the State of Palestine, ‘Brittanica’ estimates that of the number of Arabs displaced from their original homes, villages, and neighbourhoods during the period from December 1947 to January 1949 range from about 520,000 to about 1,000,000.
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The domestic debt restructuring plan announced by the Government last Wednesday and passed by parliament on Saturday, targets only one significant domestic financial asset, namely retirement funds. Far reaching changes to the future of working people’s lives are never a done deal, and much can change between the Government’s plan and what can be politically sustained as resistance mounts. Why did the Government target retirement funds,