Gota makes statement at Presidential Commission

Moody’s downgrades Sri Lanka’s ratings as political crisis continues

Moody’s Investors Service (“Moody’s”) has today downgraded the?Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings to B2 from B1 and changed the outlook to stable from negative. The decision to downgrade the rating to B2 is driven by Moody’s view that ongoing tightening in external and domestic financing conditions and low reserve adequacy, exacerbated most recently by a political crisis which?seems likely to have a lasting impact on policy even if ostensibly resolved

20 Nov, 2018

Former Sri Lanka peace negotiator resigns from UN post

Former?Sri Lanka peace negotiator Erik Solheim today resigned from his UN post. Solheim, the UN environment chief resigned after an audit questioning his huge travel expenses triggered an outcry, the Associated Press quoted UN officials as saying. The former environment minister of Norway had been at the helm of the Nairobi-based UN Environment since June 2016. A UN audit found that Solheim had spent nearly US$500 million (S$680 million) on travel and that he claimed unjustified expenses at a

20 Nov, 2018

Motion seeks suspension of state funds to Mahinda

A motion has been submitted to Parliament seeking the suspension of state funds allocated to Prime Minister Mahinda Rajapaksa. United National Party Parliamentarian Navin Dissanayake said that six United National Front MPs?handed over the motion to be debated in Parliament. They are of the opinion that state funds of the “illegitimate Prime Minister” should be suspended forthwith. The motion is to be placed in the order paper and debated and a vote taken on the 29th of this month. (Colombo Ga

19 Nov, 2018