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Ranga Sirilal Profile picture
Ranga Sirilal
@rangaba
Opinions are my own and links are not endorsements. Personal account
Feb 7 • 4 tweets • 1 min read
EXCLUSIVE: When summoned by @anuradisanayake yesterday, AG Parinda claimed he discharged the 3 suspects because witnesses had recanted their statements against them. "When?" asked AKD. "In 2020 and 2021," AG replied, prompting derisive laughter but he didn’t get the joke. 1-4 AKD reminded the AG that multiple attempts had been made during @GotabayaR ’s brief tenure to derail emblematic cases. The AG also made the bizarre claim that a charge for destroying evidence could not be maintained because the original evidence was untraceable. 2-4
Feb 8, 2024 • 5 tweets • 1 min read
Central Bank of Sri Lanka relaxed the restrictions imposed on the Standing
Facilities. with effect from 16 Jan 2023, access to the Standing Deposit Facility (SDF) was limited to a maximum of five times per calendar month, while access to the Standing Lending Facility (SLF) was limited to 90 percent of the Statutory Reserve Requirement of each LCB, at any given day.
Mar 26, 2022 • 8 tweets • 1 min read
Herewith the main IMF recommendations with my translations.

Recommendations. To restore macroeconomic stability and debt sustainability, implementing a credible and coherent strategy covering both the near and medium term is needed. Staff recommends a comprehensive set of policies with specific measures:
•Substantial revenue-based fiscal consolidation. Reforms should focus on strengthening VAT and income taxes, through rate increases and base broadening measures.
Mar 26, 2022 • 8 tweets • 2 min read
Views similar to the Article IV Report have been expressed over the past several months by local and foreign commentators on Sri Lanka. The CBSL has also continued to publish its analyses, in addition to providing further in-depth analyses on a confidential basis on market-sensitive policy matters to the Government and engaging in a continued close dialogue with the Government on the same.
Mar 26, 2022 • 9 tweets • 2 min read
IMF’s Sri Lanka: 2021 Article IV Consultation Staff Report says that COVID-19 severely hit the economy, causing a loss of tourism receipts and necessitating several strict lockdowns. Pre-pandemic tax cuts and the impact of COVID-19 led to fiscal deficits larger than 10 percent of GDP in 2020 and 2021 and a rapid increase in public debt to 119 percent of GDP in 2021. Sri Lanka’s access to international capital markets was lost in 2020, prompting a decline of international reserves to critically low levels and large-scale direct lending to the government by
Mar 25, 2022 • 5 tweets • 1 min read
Lanka IOC increases retail selling price of all types of petrol by Rs 49 per litre from midnight today (25): IOC