ECONOMYNEXT – Claims about the progress of IMF discussions and upcoming elections are being made through some platforms with non-political intentions, Sri Lanka’s President has said.
“Discussions with private creditors are also progressing positively,” Ranil Wickremesinghe said at the opening of the Theldeniya courts complex.
“Some individuals claim that these discussions are unsuccessful, while others are predicting about the dissolution of Parliament. When they made this type of statements the stock market will face a down turn on the following day.
“Then they are purchasing the shares. Despite government reassurances that no such decisions have been made, they persist in echoing these claims on their platforms. This is not a political issue.”
Sri Lanka’s Opposition members, mainly the Samagi Jana Balavegaya, have been calling for parliament to be dissolved and polls to be held. The calls intensified in Parliament after the sacking of State Minister Diana Gamage last week.
On Tuesday, Cabinet spokesman Minister Bandula Gunawardena rejected claims of snap Provincial polls.
The Colombo Stock Exchange was on an upward trajectory with turnover over 2 billion in the last three weeks but was volatile this week, and saw selling pressure due to political uncertainty, market participants said.
The Colombo Stock Exchange opened up on Thursday. The All Share Price Index was up 0.40 percent at 12,340, the S&P SL20 was up 0.48 percent at 3,654. (Colombo/May16/2024)