AGP Executive Report
Last update: 40 minutes agoCentral Bank Watch: Sri Lanka’s surprise 100-bp rate hike to 8.75% is raising fresh alarm that policymakers may be tightening too hard, or too late, as the IMF-backed recovery stays fragile and rupee pressure continues. Rupee Accountability: Opposition MPs are pushing for a select committee to examine rupee swings and demand greater Central Bank accountability, warning importers and vehicle sellers are hit when the currency moves fast. IMF Funding Update: IMF staff-level agreement is in place to wrap up Sri Lanka’s combined Fifth and Sixth Reviews, unlocking about US$700m—though officials warn the country remains exposed to external shocks. Customs Crackdown: Two Chinese nationals were arrested at BIA for allegedly smuggling 50,200 cigarettes worth about Rs. 75.3m. Transport & Safety: A train engine collided with a mini excavator near Mirigama, disrupting operations and blocking a road lane while Railways investigates. Tourism Policy: Sri Lanka has made the ETA free for UK visitors from May 25, scrapping the $50 fee to boost arrivals. Local Culture: The “Per Anger Prize” was awarded to Brito Fernando, a leading Catholic activist for families of the disappeared. Sports: West Indies confirmed a multi-format tour of Sri Lanka in June-July 2026, with ODIs, T20Is and Tests at venues in Jamaica and Antigua.
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