Dear Readers,
EFT's usual Sunday Column will not be published tomorrow as sensational news has just reached us. A highly placed military source has informed us that they have received positive confirmation that Vellupillai Prabhakaran is currently in Puthukuduriyuppu and is making desperate attempts to drive back the fast advancing SLA. This is the first time in a long time that he is directly commanding LTTE military operations.
SLDFs have vowed to capture the former leader of Tamil Eelam dead or alive. The coming couple of days will be very interesting, watch this space!
EFT stands by its Pottu surrender story, further details will not be revealed for reasons of national security.
We at EFT take great pleasure in aiming this pot shot at the LTTE. Basically, the Army Commander, Sarath Fonseka was known to be a man with a very bad temper even before the attempt on his life, then some demented woman tried to kill him, so his temper got worse, and now you are witnessing the effects of the increased bad temper. Let's make this analogy, an alpha lion is stalking its prey, then some puny hyena, let's name him Navindran, goes and tries to bite the lion's bottom, what do you think is going to happen?
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49 comments:
Mahen,
This is all speculation. Velu is the king of cowards who loved his comforts and food. Therefore, it is very unlikely that he is in Puthu commanding other low level LTTE terras. Given the way he acted in the past about his personal safety, he may have left the country when SLA took over Pooneryn and living in some country in luxury at the expense of diaspora money. If his past behavior says anything, he guarantees his safety by some means. My guess is that he has lots of money in Swiss banks and Cayman Island banks.
Pottu story is intriguing, but I think it lost the steam. I'll be very surprised if the government has kept it a secret so far. But your new story is kind of silly, subject line says "Praba on the run" content says he's commanding cadres
On another matter, I believe Mahen and SF@LNP and Long Ranger are connected, kind of obvious isn't it..
Mahen,
Thanks for the update. Still missing the Sunday Columns. No Athas, no Mahen, :(
A little disappointed with you for mentioning Navindran but not me in the story.
Wait a minute! DailyMirror says Poddu was heard on radio. So who is lying?
Fat Pig, oh where or where has my little fat pig gone, oh where or where can he be...
Quick Pottu need biryani packet...run boy...
If Fat Pig is leading from the front...
"Turn out the lights, the party is over, they say that all good things must end..."
{{{Editor: "Badrinath" said...
"Sri Lankan soldiers captured 4km from Iranamadu on 27th February"
http://puligal.blogspot.com/ }}}
JUST BULLSHIT !!!
""Editor: "Badrinath" said...
"Sri Lankan soldiers captured 4km from Iranamadu on 27th February"
http://puligal.blogspot.com/""
HA HA! YOUR BOGUS VIDEO HAS BEEN GENOCIDED!!
{{{As I said before, LTTE mobilized 1000s of its cadres to Mankulam month ago. Therumurukandi is not far from Mankulam. Whatever it is, this is the further proof of this war may not end even with the capture of PTK.
}}}
I rang Therumurukandi today.
They found a battalian of 1000's RATS.
Dear Mahen:
I picked up your role in this blog early.
Abut Pottu:
You say you stand by your story, but all the other media information is contradicting your story.
Recently SF, in LNP- (may be related to you)
seemed to be saying he did what he had to do.
This I interpreted (of course I could be wrong)as he was compelled to put that story for a strategic reason, even though it is hard for me imagine what could it that be.
My friendly inquiry to you is do the other newspapers try to indicate that Pottu is still in Wanni for a strategic reason.
If it is the case, being close to the defense authorities, why did you choose to put the story in public domain?
May be the strategic reason is to generate an environment of confusion that I cannot figure out because I am not privy to information.
Do you care to elaborate on this, if you can?
Initially I was hesitant to express my
understanding of your role then when it became too obvious I made a remark. I still do not know whether I have done the right thing.
Thanks!
Swarnajith Udana(ස්වර්ණජිත් උදාන)
I dont think Mahen is connceted to any source in the army. I have no doubt that he was a former diehard LTTE disapora supporter who understood the truth later. If Karuna can go against LTTE after fighting for over two decades, its not surprising to see people like Mahen to go agaist the LTTE at this stage
I'm not Baihirav:
It could be true what you say, but it is unlikely.
His short comments were always pro LTTE and expressed hatred towards Sinhalese, but the purpose of his articles always seemed to be, at first subtly, later almost directly to ridicule the LTTE.
Now there is no pretension at all.
But then in a world that it has been possible for an organization like LTTE to exist and fool the world, any thing could be possible.
Thanks!
Swarnajith
Swarnajith,
I agree that from day 1 the articles in ellalanforce blog were detrimental to LTTE propoganda. Sometimes Mahen went over board (and blew his cover) with the silly acronyms to describe different units of LTTE.
But my conviction that Mahen is a former LTTE diaspora supporter is based on what Mahen used to say in DW before he started this blog.
Google for mahens comments (before he started -ellalanforce) you'll see what I mean...
I'm nor Bahirav:
Thanks for that.
I remember his short comments. They were silly and expressed utter hatred to Sinhalese.
I think he was trying to win the hearts and minds of Diaspora.
Even about the poll he was encouraging for Sinhalese to vote.
Also, the day before the poll result he was mocking Sinhalese "
you do not know what is going to happen tomorrow".
Again any thing is possible.
I was very happy to see your comment in DW about Sakkiliya.
I will write an article om "Language of Self Debasement"
on Rover's side.
My articles are in Lankaweb, Sri Lanka Guardian and Rover's site.
Thanks! Regards!
Swarnajith
all bunkum. Prabaha was never cited PT. lankaweb too has eaten this dead rope
I wouldn't call Navindran a Hyena. Sure, he pretends to be a scavenger, trying to rejoice at the misfortune of others. But he is not as smart as a Hyena. I would say he is more like a monkey, trying to be funny, while everyone else is laughing at him.
Swarnajith, I think only Mahen knows the truth.. We both can only speculate :)
So Mahen, what do you say? Were you a former LTTE supporter or not ;)
Mahen bro, I dont care about your past all that matters is the present and the future and I admire your efforts of countering LTTE propaganda through your blog.
!! Please Stop The War !!
!! Please Stop Killing Civilians !!
http://srilankangenocide-civilian.blogspot.com/
Another guy for you to kill
http://www.island.lk/2009/03/01/business1.html
World recession will Hit Lanka, Ronnie warns Biz CommunityBy Winston de Valliere
Former Finance Minister Ronnie de Mel, now senior economic advisor to the President, warns that " the more disastrous consequences of the global recession will hit Sri Lanka any time from six months to a year from to date. The Sunday Island spoke at length with the former finance minister about his perceptions on how the global economic downturn will affect the Lankan economy. But first, a look at what the economy really portrays at the moment.
What does the economy really look like at the moment? Consider the hard facts.
Dwindling export revenue combined with higher import expenditure caused by global recession on the one hand and a depreciating rupee on the other paint a bleak picture in which appreciably lower tax revenue will logically compel government to resort to more foreign borrowings to fund development. The latter will cause a massive increase in external debt servicing on interest alone. Increased state borrowings from the banking system can leave us with a seriously cash-strapped private sector that will be compelled to resort to ad hoc short term borrowings from private sector commercial banks to merely stay afloat until the crisis is hopefully past.
Pressed for defence funding, the government will certainly be in no position to extend a lifeline to private banks to bankroll the private sector that will be compelled therefore to put development plans on hold. The broader picture would then suggest that one can forget all about planned budgetary development targets at which even the ADB has begun to look askance. An increasingly worried private sector, specially some listed companies, may not be declaring dividends at year’s end, 2009 or in other cases at end of March 2009. No matter what some brokers predict, the facts do not substantiate their optimism. The more forthright ones don’t want to be quoted. Inflationary trends show no signs of letting up despite some ministers claiming a drop in inflation citing lower commodity prices chiefly caused by greater agricultural output. They conveniently forget that this is done by footing a huge all round fertilizer subsidy, which would be politically suicidal to remove with several elections lined up for over the next two years. So much for sound fiscal policy!
With more internally displaced persons (an approximate 300,000) now ready for resettlement and rehabilitation in the north and east, and billions of dollars needed for rehabilitation and reconstruction of the east and those areas of the north which are ripe for such action, the pressures on the Treasury will right now be absolutely toe crunching. Add to that gloomy reality the dwindling external reserves in the context of a continuing drop in export revenue and what pops up is the picture of an economy under unrelenting siege teetering on the edge of a huge crisis.
This is the backdrop against which the Sunday Island had a frank chat with the former Finance Minister Ronnie De Mel, now the senior economic presidential advisor, on his perceptions of the direction in which the economy is headed.
Q: What’s your assessment of the impact of the current world economic downturn on the Sri Lankan economy?
De Mel: Businesses the world over have not fully understood the magnitude and inherent dangers in the current global economic crisis. I’ve observed and interpreted our private sector attitudes to this crisis as being similar to that of their global counterparts. Foreign businesses reacted too late to the crisis after it affected them and with negative consequences to the economies of their countries. This is obviously the case in Sri Lanka too. The recession has still not made deep inroads into our economy but it is my opinion that even our politicians, besides the business community, have been overlooking the potential threat to the stability of our economy that is inherent in the crisis, even to the extent of underestimating the adverse impact it could have on the country and the common man besides the business community."
Warning that the " recession is just beginning to affect us in a big way" de Mel feared that "its more disastrous consequences will be felt by Sri Lanka in about six months to one year’s time."
Q: What areas of the economy have already been hit by the global downturn?
De Mel: Tourism has been dragged deeper into the doldrums. I have never before in my political career seen the traditional tourist resort areas from Kalutara and Bentota down to Tangalla, Hambantota and Tissamaharama so totally bereft of tourists as in this last year. There are few low spending types but the big spenders are almost completely out. I have known these areas from the inception of tourism in 1965 having been an MP from this area for nearly 40 years. But this is the worst ever excepting the decline at the height of the JVP insurrection.
The tea and rubber sectors have also been seriously affected as foreign buying has dropped of very substantially. The smallholders who sustain the overall performance of these sectors produce between 65 to 70 percent of the country’s tea. Until the onset of the crisis, they received between Rs.50 to 75 for their green leaf. They now get between Rs.25 to Rs.35 a kilo and these are prices considerably below the cost of production. The rubber smallholder who used to get from between Rs.200 to Rs.300 a kilo of latex now gets a mere Rs.100 to Rs.120.The same is true of the spices range and our other minor export crops. Our exports have been hit all round. Though coconut has held up somewhat in comparative terms, there too prices are considerably lower.
Q: What about the apparel, textiles and industrial exports sectors?
De Mel: The entire industrial sector is just beginning to be affected with several smaller apparel factories having already wound up operations here while the bigger ones have started retrenching staff. One of our biggest solid tyre manufacturing factories which is ranked second largest in the world, recently retrenched 25 percent of its workforce of 8,000. There are others who are also retrenching while some others are not filling available vacancies.
Q: What are the concerns you have briefed the government about?
De Mel: I am deeply worried about our foreign employment and our foreign remittances which constitute one of the most vital forex earners for the country. The economic downturn has begun making inroads into the Dubai, Abu Dhabi and other Gulf and Middle-Eastern economies as well while the crisis has been exacerbated by the very serious downturn in Italy, France, Spain, UK, Malaysia, South Korea and even Japan. All this will result in the loss of jobs for Sri Lankan workers in those countries as the recession drags on resulting in a decline in remittances which will present a very serious problem to Sri Lanka before long.
Q: Which means our village economy that is sustained by these remittances will be badly hit….
De Mel: It will also very seriously affect our foreign exchange position and impact badly on our balance of payments.
Q: So if the global decline in demand for our products is not reversed soon, our industrial production will nosedive seriously?
De Mel: Yes because the crisis has very considerably hit almost all of the countries which are traditional importers of our products. At the moment, oil prices have dipped but there is no guarantee whatsoever that they will remain at today’s low levels of $38 to $ 40 a barrel for Brent or West Texas for long.
Q: Many countries have come out with economic revival packages. What’s your feeling about such an option for Sri Lanka?
De Mel: The first package from the US government helped a little bit in the sub-prime mortgage crisis in the US but it hardly touched even the fringe of the overall crisis there. A second package of $789 billion came out a week ago. We will have to wait and see what results it will produce. Other countries hit by the crisis have also come out with similar packages. President Rajapaksa also announced a series of economic relief measures despite being seriously handicapped by the enormous military expenditure. With an end to the war the government will come out with a broader relief package to help the country tide over the difficult times which are approaching.
Q: All our donor countries have been seriously hit by the downturn and have necessarily had to deal with this crisis in their economies. How will this impact on their usual aid and grants to Sri Lanka?
De Mel: President Rajapaksa has been able to get large amounts of aid from China, Iran and several other countries. And I don’t envisage any great reduction of aid or other forms of assistance from donor countries either. I recall that during a recession in UK and Europe in the late 1970’s when I was finance minister, it was possible to get more aid during the recession because aid often means large contracts for firms in aid giving countries which increase employment opportunities for their people. I got all the aid we needed at concessionary terms for the Victoria Dam and other major hydro power and other development projects. I told the British Premier James Callaghan that when they help us build our dams and power stations they will also create jobs for their own people manufacturing sophisticated machinery needed and for connected work here. I used the same rationale in Germany. France and Sweden for some of our large construction works because during that recession they were looking for new avenues of employment for their people. So these things work both ways if one knows how to present a sound brief for aid and assistance.
Q: Have foreign banks in Colombo whose head offices in recession hit countries have been affected by the crisis modified their credit to our private sector industry and trade?
De Mel: I have not checked this out but banks such as HSBC, ICICI, Deutsch, Standard Chartered and some others have immense resources despite the crisis. I am fairly confident they won’t have any change of stance on any of their operations in Colombo.
Q: Is there the possibility of an earlier than expected resurgence of the global economies which will save the day for Sri Lanka?
De Mel: The huge bail out programs would suggest otherwise and economists in those countries are not expecting a turn around for anything between 18 months to four or five years.
Mahen will not report this. Report some rubbish and jerk off on it.
Fitch cuts Sri Lanka's rating outlook to negative
Fri Feb 27, 2009 11:41am IST
HONG KONG, Feb 27 (Reuters) - Fitch Ratings changed the outlook on Sri Lanka to negative from stable on Friday, expressing worries about its external financial position reflected in the sharp fall in its foreign exchange reserves.
The agency said it had affirmed the country's B-plus rating, four notches below investment grade.
Fitch also cited concerns about the stresses in the country's balance of payments, its fiscal deficit and the government's increased reliance on foreign-currency borrowing in recent years.
"Without a sharp contraction in domestic demand to curtail imports, or a significant depreciation of the exchange rate to otherwise correct the trade imbalance, Sri Lanka may not have access to sufficient international funding to cover the current account shortfall and its international debt repayments, resulting in ongoing pressures on official reserves," the agency said in a statement. (Reporting by Umesh Desai; Editing by Ken Wills)
Mahen will not report this. Report some rubbish and jerk off on it.
Fitch cuts Sri Lanka's rating outlook to negative
Fri Feb 27, 2009 11:41am IST
HONG KONG, Feb 27 (Reuters) - Fitch Ratings changed the outlook on Sri Lanka to negative from stable on Friday, expressing worries about its external financial position reflected in the sharp fall in its foreign exchange reserves.
The agency said it had affirmed the country's B-plus rating, four notches below investment grade.
Fitch also cited concerns about the stresses in the country's balance of payments, its fiscal deficit and the government's increased reliance on foreign-currency borrowing in recent years.
"Without a sharp contraction in domestic demand to curtail imports, or a significant depreciation of the exchange rate to otherwise correct the trade imbalance, Sri Lanka may not have access to sufficient international funding to cover the current account shortfall and its international debt repayments, resulting in ongoing pressures on official reserves," the agency said in a statement. (Reporting by Umesh Desai; Editing by Ken Wills)
I think mahen your team needs to hunt and kill LBO guys just like you did to lasantha. Anyway they talk about Indonesian peg below. You know why the rupiah has not collapsed, simple because you have Singapore there supporting the rupiah and it did the thai bhat during the asian financial crisis. Guess its helps that a person of eelam origin is around the corner.
Sri Lanka negotiating more forex swaps: Central Bank
Mar 02, 2009 (LBO) – Sri Lanka's central bank says it is negotiating two swap agreements with central banks to boost the country's flagging foreign reserves, as interventions continue to pressure the rupee.
Sri Lanka's gross official reserves fell to 1,753 million US dollars in December.
The latest official data shows that the Central Bank has spent another 251.7 million US dollars on a net basis to intervene in forex markets in January 2009.
More Swaps
The Central Bank has been negotiating with foreign central banks for swap deals to get access to more foreign exchange.
In February the Central Bank said it had concluded a 200 million US dollar deal with Malaysia.
"Already one central bank has extended a Swap facility and negotiations with two others are at an advanced stage, and expected to be finalized soon," the Central Bank said Friday after Fitch downgraded the outlook on Sri Lanka's 'B+' credit rating to 'negative' from 'stable'.
"At the same time, Sri Lankans living overseas are positively responding to opportunities offered to invest in government securities and enhanced return on non-resident foreign currency accounts.
"As a result, we expect substantial investment flows from these measures in the immediate future."
On Friday the rupee fell to a low of 115.70 against the greenback in value tomorrow trades, dealers said, but a dose of moral suasion pushed the currency to 114.20/25 levels later in the day.
The Central Bank is now maintaining a peg at 114.25 rupees by selling dollars for trade-backed transactions.
Currency Crisis
A domestic currency is pressured by liquidity injections made (money printed) by the central bank to 'sterilize' cash losses in the domestic market when the monetary authority sells dollars against rupees to maintain a 'peg' with a foreign currency.
Such pegs are not 'credible' or 'hard' because it is not possible to target the exchange rate and have independent domestic monetary policy, in the form of either money supply or interest rate targets.
To conserve reserves, or end the currency crisis the cycle of dollar sales and liquidity injections (sterilized intervention) has to be halted.
In January the central bank has spent 272.2 million US dollar defending the currency and had only bought back 20.5 million US dollars.
"While it is true that reserves have declined, it should be noted that it is a reflection of the consequences of global financial crises which resulted in a global liquidity crisis leading to the drying up credit lines," the Central Bank said Friday.
The monetary authority said it had to provide foreign exchange as foreign government bond holders sold out, to "prevent undue volatility in the foreign exchange market.
"In fact, reserves had been built up by the Central Bank to face this type of contingent events," the monetary authority said.
Soft Peg woes
But other economists have pointed out that this is a common policy error found in countries with 'managed floats' or 'soft pegs' and is the type of behavior that triggers currency crises.
When foreign investors bought dollars, Sri Lanka's central bank intervened in the market, sucked liquidity out (sterilized the inflows) and kept interest rates high, and prevented the exchange rate from appreciating, encouraging further speculative inflows.
Now the direction of sterilization has reversed, and Sri Lanka is in the middle of a balance of payments crisis.
"Until late last year, Bank Indonesia purchased U.S. dollars continuously, preventing the rupiah from appreciating," economists Steve Hanke and Ross McLeod wrote in the Wall Street Journal (link) last month.
"Paradoxically, the attempt to provide a war chest against balance of payments shocks had the perverse effect of heightening vulnerability to sudden, destabilizing capital outflows."
Fear of floating
A 'managed float' central bank has a marked aversion to floating, buoyed by a belief that it is possible to intervene both in forex markets (target the exchange rate) and money markets (target domestic money supply or rates) simultaneously.
"Notwithstanding having nominally floated the rupiah in 1997, the central bank has never overcome its aversion to fully floating exchange rates," Hanke and McLeod wrote.
Instead, Bank Indonesia has 'managed' the float, intervening simultaneously in the foreign exchange market and the domestic money market.
"In essence, it has both exchange rate and monetary policy targets, and these often contradict each other."
Sri Lanka also nominally floated the currency in 2001 after a severe currency crisis, just like Indonesia did during the East Asian currency crisis, after a massive bout of sterilized intervention de-stabilized the country.
Sri Lanka has suffered high inflation and balance of payments crises after a central bank with money printing powers was created.
Before that, Sri Lanka had a currency board without money printing (or sterilizing powers), which maintained a 'hard peg' or a fixed exchange rate and kept the economy stable under colonial rule.
Mahen can you elaborate the implications of the new evidence of Vaiko's and other south indian politicians links with LTTE?
Samaraweera scored his 2nd double century.
He & Dilshan are hammering Pak bowlers like SLA is hammering LTTP.
Navindran
You are Peelamist. You will never come to live in SL.
Why are you worried about SL economy?
Why are you wasting your time in writing long stories?
I will tell you one thing. SL economy was affected badly by LTTE. But once LTTE is defeated, SL economy will pick up strongly.
Stop writing bullshit. At least write something like Badrinath some funny stories. At least we can laugh.
||::CeylonDefence::||
Click here
Looks like Pakistanis love your cricket team. Guess your people will blame the LTTE for this. Let me spin the story before anyone does. LTTE pays them or LTTE are actually pakistani.
පලමු සින්හල ලිපිය @ ||::CeylonDefence::||
Click here
Is there any news about CJ's balls?
Because HuthuKudu has been taken over although 1000 of LTTE cadre (Or a batallion of RATS) on the verge of taking back Killi.
For the 2 days the Pakistan Team and the Sri Lankan Team went for training together. However on the third day or the day of the attack, the pakistan team said they would join later. How come your pakistani brothers are willing to scarifice your buddisht lives to safeguard their own arses.
It looks like its another crushing and humuliating defeat for Mahindha. He prostituted your cricket players so that he will get favours and weapons from Pakistan. Today they are suffering because of this.
Prabha likes cricket as it is rumoured. The LTTE till today has used the cricket match times to launch attacks but never attacked the team. Its so much easier in Sri Lanka to do so then in Pakistan.
Even B.Raman is trying to put a spin that the LTTE might have used their pakistani accuqantence for this. His spin also comes out almost immediately. Hence it may actually be a plan to immediately draw attention away from RAW. The sad bad is after being humuliated by the LTTE by not adhering to the battle plans he laid out, he know feels he needs revenge. Unfortunately he forgot the new zeeland team was attacked in pakistan 3 years ago and they were lucky they were in the hotel when the suicde bomber went off.
It serves Indian dual purpose to potray pakistan as a terrorist state and also justify why the Indian team should not go there.
Hum Re-Pays An Old Debt To LTTE In Lahore?
http://www.southasiaanalysis.org/papers31/paper3081.html
Regardless of the Indian involvement, its obvious that the Sri Lankan team was choosen by the pakistanis because, one you are insignifcant as a country, secondly the dead would generally be buddisht who are non hindu and no muslim. Hence who cares if they die in south asia except for your people of course.
The outcome of this action would also come as a warning for the sri lankan goverment and its people.
This also brings me to a point of the LTTE under Prabha brought about by Puligal blogspot. If the LTTE is not sole represntative of the tamils, then self imotalaitation overseas could easily turn into attacks against sri lankan entities overseas. This would be unabated and uncontrolled.
As much as the people of eelam get killed, raped and humuliated on a daily basis by the government of sri lanka, i do not think that since colonial rule, regardless of the differences, sports has always been a uniting factor. People of both countries have often forgotten their national differences when they play for their schools etc. In the years following eelam's independnece it would be good for both countries unlike india and pakistan to behave civily and conduct their "cold wars" on the cricket pitch or rugby feild.
Many Sri Lankan Tamils giving up on country
http://www.google.com/hostednews/ap/article/ALeqM5jU_MxtpKJfuRnJVhDFoXaWnKeYhAD96MG7U00
Privacy Goes Public in Sri Lanka
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/02/AR2009030202399.html?hpid=artslot
Hey Navindran Monkey, you should see the headlines world over - its not the economy, it is how terrorists have targeted an international sports team. Even in the USA, where not many know much about cricket.
So coolie, contrary to your insignificant opinion, it is a very important incident for the whole world. Expect even less sympathy for your Tamiz Eezam after this.
Hey the Match refree for the SL Paki game said that they were promised presidential security. Yet they were abandoned to the attackers. Yes my dear friends, you were made scapegoats by your so called allies who did no follow the SL training bus as they did the previous 2 days. He said he was very angry.
I mean your president does a blowjob for India and Pakistan. Yet
he gets screwed in the arse by both of them. India took revenge just as they did after 1983 to punish sri lankan for not being her exclusive slut.
However Pakistan also decided if somebody needs to be scarificed it can be the Sri Lankan cricket board. I mean this is the scenario that your people are going to face as your economy nears bankruptcy. Prostitued by your politicians for the world.
Or yah after such a crushing and humiliating defeat for Mahindha, I was shocked that puddikrippu could fall excatly on the very same day. Just like I was shocked that the tiger planes, suicide camps were immediately and accurately bombed after that.
Any suprise why Defencewire, Defencenet and Ellanforce have not reported this crushing and humiliating defeat. Your country military inteligence is as good as the punnaku you spew here. I mean if you were the clowns of the internet, mahindha and Sri Lanka are the clowns of the cricket world.
I loved B.Raman after being humuliated that the LTTE did not stick to his Killonochi plan now trys to link them with the paki attackers whom escaped. Of course just like sri lanka after the attack 60-100 will be rounded up. Unfortunately for raman such eagnerness to link the LTTE to this attack is sad.
Yes if the LTTE used the Pakis, it would not had a direct backlash. However if any indication had come out, it would be disatorous to the LTTE who have been playing down the military news for higlighting the humatarian crisis.
However Raman forgot the Kiwis were hit by a sucide bomber 3 years ago. Secondly as your own propaganda has said he likes cricket. The LTTE has used the timing that cricket games were held to launch attacks. However unlike attacking a religous entity or others, killing cricket players will really piss off the sri lankas. Like now how the public is pissed with Mahindha mama.
Its sad the games like cricket have always been used to unite the two nationalities of sri lanka and eelam like when they play for their school. I mean will there be a murali a top general in sri lanka, nope.
It would be good after eelam's independence for eelam and sri lanka not to behave like India and pakistan. It would be better to take out the difference on a cricket or rugby feild.
MAHEN HELP HELP YOUR COUNTRY IS GOING TO BEG IMF REDUCE MILITRAY SPENDING AND ALSO THE RUPEE IS NOT GOING TO BE SAVED.I MEAN THEN LIKE DKKHA WE ARE GOING TO HAVE A COUP OR MUNITY. ALL THE PUNNAKU I HAVE BEEN SAYING IS COMMING TRUE. PLEASE TAKE OUT THOSE GUYS DOWN THERE. THEY SAY YOUR COUNTRY IS IN FULL COLLAPSE.THEY ARE POEPLE OF EELAM ORIGIN WITH SRI LANKAN NAMES.
INSTANT VIEW-Sri Lanka says negotiating $1.9bln IMF loan
Wed Mar 4, 2009 7:06pm IST Email | Print | Share| Single Page[-] Text [+]
COLOMBO, March 4 (Reuters) - Sri Lanka's central bank on Wednesday said it was negotiating a $1.9 billion IMF loan to help the country weather the global crisis and pay for post-war reconstruction. [ID:nCOL298469]
COMMENTARY:
MURRAY FERNANDEZS, TREASURY MANAGER, NDB BANK
"The move is good. We have no way to strengthen our reserve other than going for IMF. I don't think they (IMF) will give this assistance to protect the rupee. But we have to see the conditions attached with this package.
CHANNA AMARATUNGA, DIRECTOR AT CT CAPITAL:
"It remains to be seen what economic policy conditions the IMF would seek to attach to any offer of assistance.
GEETH BALASURIYA, HEAD OF RESEARCH AT ACUITY STOCKBROKERS
We are in an economic crisis. This assistance will definitely support investor sentiments. This is really a positive move.
HARSHA DE SILVA, ECONOMIST AT LIRNE ASIA AND FORMER ECONOMIC ADVISER TO MAIN OPPOSITION UNITED NATIONAL PARTY
We are desperate for dollars. The central bank and the government concealed the fact that we were at a crisis challenging that they would not go for IMF. The central bank has finally realised that we need to go for the lender if we need to get money at the moment. I think the central bank should not try to defend the currency with the money we get from IMF. (Reporting by Shihar Aneez; Editing by Bryson Hull)
MAHEN THEY HAVE MADE YOU ARE CLOWN AND YOU LIKE THE OTHER GOONS ARE FACING A CRUSHING AND HUMILIATING DEFEAT. I THOUGHT POTTU AMMAN CAUGHT???
Pottu Amman leading final battle'
LTTE chief Prabhakaran (L) seen with Pottu Amman, the intelligence chief .IANS First Published : 01 Mar 2009 04:10:56 PM ISTLast Updated : 02 Mar 2009 01:15:19 PM ISTCOLOMBO: Pottu Amman, the feared head of the Tamil Tiger intelligence wing who is wanted for former Indian prime minister Rajiv Gandhi's assassination, is now commanding the guerrillas against the military in Sri Lanka's north, a media report said Sunday.
The state-run Sunday Observer reported that Pottu Amman, said to be the second in command in the Liberation Tigers of Tamil Eelam (LTTE), "himself has stated to command (in the battlefront)", after realising the grave danger the group is facing.
"His (Pottu Amman) voice has been heard for the first time in the radio communications intercepted by the 58 Division," the report said. The Tamil Tigers are trying to prevent the military from entering the heart of the town of Puthukkudiyiruppu, a small town where the LTTE has had a base for years.
Pottu Amman and LTTE chief Velupillai Prabhakaran are wanted for the 1991 assassination of Gandhi, who was blown up by a woman suicide bomber at an election rally near Chennai.
Indian officials say that although Prabhakaran ordered Gandhi's killing, it was Pottu Amman who oversaw the entire operation. The LTTE intelligence unit tasked with killing Gandhi in India reported to Pottu Amman.
According to the Sunday report, Pottu Amman "has vowed not to allow troops to enter Puthukkudiyiruppu junction which is being heavily defended by the LTTE".
It said the LTTE, cornered into a 50 sq-km stretch of land in Mullaitivu district, "is fighting tooth and nail in defending their final stronghold".
The Observer said the troops were witnessing "the fiercest battles they have ever faced these days". It added that the LTTE was exerting maximum pressure on the troops, making maximum use of its firepower despite limitations in the number of fighters.
"They have created a massive (civilian shield), restricting the use of firepower by the security forces," it said.
The Tigers were also making desperate attempts to break the security forces' defences south of Puthukkudiyiruppu and enter the jungle patches in Oddusuddan and Mullaitivu.
Quoting military intelligence sources, the report said the LTTE was now left with less than 600 cadres and another 100 cadres to provide security to the elusive Prabhakaran.
"The only advantage they are having at this moment is heavy firepower and more than 70,000 civilian population trapped in the no fire zone in the coastal belt in the north of Mullaitivu," the report said.
Over 70,000 people have died in the Tamil separatist campaign in Sri Lanka since 1983.
දේශප්රේමී මිත්රවරුනි, ම්ගේ දේශපාලන බ්ලොග් එකත් පොඩිඩක් කියවන්න.
බොහොම ස්තුතියි
මෙන්න ලින්ක් එක
MIRROR SAYS YOUR PATRIOTIC DISPORA ONLY GAVE $600000 of the 500 million. IT MENAS THEY KNOW THE PUNAKKU THATS WHY THEY LEFT THE COUNTRY. THE IMF WILL RUN SRI LANKA AND THE STORY REPEATS ONLY THAT THIS TIME IT WILL BE EELAM INDEPENDENCE. OF COURSE YOU MILITARY IS GOING TO COUP SOONER OR LATER. HAVE YOUR SISTERS READY FOR THEM.
http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=42437
No Means Yes: Going back to the IMF
By Yohan Perera With additional reporting from FT
Reaction to the government’s sudden announcement that it was interested in borrowing US 1.9 billion from the International Monetary Fund raised a chorus of surprise by elements in the business community as well as, predictably, by the UNP and JVP parties in opposition.
Under some political disfavour, the IMF Office in Sri Lanka closed down in January 2007 after some 28 years of local operations.
The government, principally the Central Bank, has repeated and adamantly stated in 2009 that it has a strategic plan for the country that does not need to resort to foreign borrowings from the IMF. This was said despite the yawning trade deficits and plummeting foreign reserves that were not decisively addressed publicly in spite of nominal references in Budgets.
The Central Bank since January had formulated a “Now Is The Time” campaign to seek foreign currency from expatriates in the hope of raising $ 500 million (no period stipulated). The Daily FT learns that so far amounts closer to only $600,000 were raised.
Interest in the various Sri Lanka bonds as formulated in the recent Central Bank’s Roadmap for the country have been equally elusive. With a depreciating local currency (now close to Rs 115) and financial turmoil amongst the world’s investment community, our offerings drew scant attention so far.
With Lankan foreign reserves running around $1.5 billion or just a few weeks of imports, pressures on the government to seek a realistic and fast bailout were mounting hard and fast this fortnight – before April to be sure, irrespective of the contradictory utterances by state institutions in public.
And now, the recourse to IMF.
This in itself will be no bad thing, even if we need to eat humble pie: for one thing IMF Standby Loans (with low interest rates) come with stringent terms and conditions, something that even the Government will need to heed. It will introduce fiscal discipline that previous Daily FT Special Reports have highlighted as a vital, urgent need for the country before it runs aground.
IMF monies are also in much demand by other regional countries embroiled in crises of their own and thus Sri Lanka will be lucky to obtain a piece of the pie: we may not get all that we are asking for in terms of the $1.9 billion.
Meanwhile, the JVP and the UNP slammed the government yesterday for its decision to borrow from the IMF. UNP MP Ravi Karunanayake highlighted the inconsistencies in the government’s position and having gone back on its word. “This was the earlier stand of the government.
Why has it changed its tune now?,” he asked.
He said the government would be compelled to bow down to the IMF as it would put conditions to provide funds and that the government could not answer when the UNP questioned about this move in Parliament recently. “This also shows that the government is faced with a serious crisis when it comes to finances,” he added.
The JVP said the government has let the cat out of the bag with this move. JVP MP Vijitha Herath said this move confirms that the country is affected by the global economic meltdown. “The government earlier denied that Sri Lanka is affected by the global economic crisis but now we see the reality,” he said. He pointed out this would increase the debt burden of the country and thereby push the nation from the frying pan and into the fire. He suggested that the country should strive to increase local production in raising itself from the current predicament.
IMF LOAN MEANS MASSIVE RUPEE DEPREACTION COMMING AND YOUR COLLAPSE. NOT ONLY ARE YOU ALL GOING TO GET RETRENCHED AND SEND BACK TO SORRY LANKA. YOU HAVE TO JOIN THE ARMY TO SURVIVE. COUP COMMING. I AM JUST SPEWING PUNNAKU, PLEASE BELIEVE YOUR LA LA LAND STORIES.
Just to correct LBO, devaluation is also not going to help your exporters.
Tick Tock
06 Mar, 2009 07:09:02
Sri Lanka rupee unchanged after IMF bailout announcement
Mar 06, 2009 (LBO) - The Sri Lanka rupee traded at 114.20/25 against the US dollar in the spot market after the central bank said it had gone for an International Monetary Fund bailout.
A state name that usually acts for the central bank was in the market (settlement in two days) at 114.25 rupees in the spot market but state banks were collecting dollars in cash and value tomorrow deals at 114.20 levels, dealers said.
Premiums for one month forward dollars however fell from 1.45/1.60 rupee levels Thursday to 1.25/1.30 rupee levels on Friday, after the Central Bank announced a one month liquidity facility at 16.50 percent, dealers said.
Bailout
The Central Bank said Wednesday it had asked the IMF for a stand-by arrangement of up to three times Sri Lanka's quota of the Fund, or about 1,900 million US dollars, though the exact volume that the island will eventually get is not yet known.
An IMF package is usually accompanied by a condition to float or rapidly depreciate the currency to stop the hemorrhaging of foreign reserves and to bring equilibrium back to the monetary system.
IMF financing are almost external to the domestic economy and is injected directly to the central bank, and usually goes to bridge the US budget deficit as soon as it is invested in interest bearing securities.
IMF financing cannot materially affect the fundamental pressure put on the exchange rate by past liquidity injections of a central bank, though it can temper the jitters of forex market players.
Only a float, or a quick step devaluation can bring balance into the monetary system. IMF bailouts are conditional on 'exchange rate flexibility'.
Dealers say exporters are hoping for a devaluation of about 5 percent at least, though it is uncertain whether the currency needs to depreciation that far.
A cleanly floating exchange rate can also reduce interest rates. But past experience has shown that many third world 'managed float' central banks that frequently get into balance of payments troubles by definition have a strong aversion to clean floats.
Better management
However Sri Lanka's foreign reserves have provided a bulwark against external sovereign default in the past.
In third world pegged countries where the government itself has junk ratings below 'BBB-', central bank reserves can give comfort to external creditors, as a sign of sovereign solvency.
Sri Lanka only has a B+ rating now with a negative outlook from Fitch.
The Central Bank said IMF support "would enhance the assistance from other development partners as well as significantly improve international investors’ confidence on Sri Lanka."
Improvement of investor confidence come from the expectations that conditions of minimum fiscal prudence and economic management would come with an IMF bailout package which will help improve economic stability.
Sri Lanka has an overvalued currency which is making domestic producers and exporters.
Instead of correcting the exchange rate anomaly Sri Lanka country has resorted to protectionism by raising tariff barriers, which is giving fat profits to inefficient producers catering to captive domestic consumer base, who are mostly poor.
"Protectionist measures should be avoided," the IMF said in a recent policy paper on low income countries.
"Limiting imports through tariffs or quantitative restrictions lowers welfare by distorting incentives, and new barriers can be hard to rescind when the current pressures subside."
S.Lanka says likely to roll over $475 mln in bonds
Tue Mar 3, 2009 5:14pm IST Email | Print | Share| Single Page[-] Text [+]
COLOMBO, March 3 (Reuters) - Sri Lanka will likely roll over $475 million worth of development bonds maturing this year, an official said on Tuesday, a day after central bank said it is examining IMF funding options amid a looming reserve crisis.
The central bank on Monday offered $200 million of new Sri Lanka Development Bonds (SLDBs), which the central bank said would repay maturing SLDBs issued two years ago. The island nation will have to pay $475 million in total against the latter bonds this year.
"Most probably, all of them will be rolled over," C.J.P. Siriwardena, superintendent at the central bank's public debt department, told Reuters. "Depending on market situation and government's cash flow, it will be decided."
Sri Lanka Development Bonds since 2001 have been used to fund a raft of infrastructure projects in its $32 billion economy including developing the northern and eastern parts of the country hit by a 25-year war with Tamil Tiger separatists.
Sri Lanka's central bank on Monday said it was examining IMF financing, in an apparent easing of its stance toward the lender of last resort after a sharp fall in foreign currency reserves. [ID:nCOL481541].
Official reserves fell by the end of December 2008 to $1.75 billion, sufficient to finance less than ony 1.5 months of imports, from $3.56 billion at the end of July. (Reporting by Shihar Aneez; Editing by Bryson Hull)
Another LTTE propoganda from Reuters saying Sri Lanka is on full collapse
Sharp fall in Sri Lanka tea exports
20 hours ago
COLOMBO (AFP) — Sri Lanka, one of the world's biggest tea exporters, registered a 30 percent drop in overseas sales in January because of a decline in the crop, the Sri Lanka Tea Board said on Thursday.
Sales from tea shipments fell to 6.9 billion rupees (61.37 million dollars) in January, compared to 9.8 billion rupees in the same period a year earlier, official figures showed.
Volumes of tea exports also fell 25 percent to 17.76 million kilograms (39.07 million pounds) in January, over the same month in 2008, the board said.
"We are reeling from twin effects of lower rainfall and a deliberate effort to curtail our own production. This has hit our exports in terms of volumes and earnings," Tea Board chairman Lalith Hettiarachchi told AFP.
Russia and former Soviet republics are the largest markets for Sri Lankan tea, accounting for nearly a fifth of total exports, followed by the Middle East and North Africa.
Sri Lanka benefited from the global commodity boom in early 2008, with export earnings hitting a record 1.23 billion dollars for the full year, up from 1.02 billion dollars in 2007.
Tea output also hit a record 318.47 million kilos, up from 305.2 million kilos produced in 2007.
However, with the onset of the global economic meltdown, prices have collapsed to an average of 2.65 dollars a kilo (1.20 dollars a pound) from record highs of 4.26 dollars a kilo between January and September last year.
Growers have also curbed output at the request of the Tea Board to manage high production costs and maintain quality.
The first signs of a drop in the crop were seen in December when output fell by a third to 19.9 million kilos from 29.5 million kilos in the same month a year earlier, Hettiarachchi said.
He expects production to slow down to just over 300 million kilos this year, partly due to high labour and fertiliser prices.
" Navindran said...
S.Lanka says likely to roll over $475 mln in bonds
"
Bonds underpants facory in Sydney collapsed. All workers lost jobs.
It was revealed that their overseas customer, EELAM Government hasn't placed any orders for last 6 months. This is because EELAM Government is going to be evaporated soon.
Mr. Navindran:
You seem to be really concerned about Sri Lanka Economy. Thank you very much.
Such dedication, enthusiasm and concern beyond my imagination and always should be recognized and credits due should be given.
It makes me feel how limited I am in all of these wonderful qualities.
But, can I ask you some favor, very humbly, Sir? Could you please direct one billionth of your dedication, commitment and enthusiasm exhibited for Mother Sri Lanka towards Rescue of Tamil Civilians.
You and I both know that they are taken hostage, asking Sri Lanka for ransom. Sir, this must worry you. Since they are demanding Sri Lanka as ransom, this is bad news for Sri Lankan Economy.
You being a person so concerned of Sri Lankan Economy, I can feel how furious you are now.
I admire your passion, sir.
But, watch your blood pressure, sir. Coronary thrombosis is very common among dedicated people like you, sir.
I merely appeal you to divert just a billionth (not any more than this, sir) of your energy towards the Rescue of Tamil Civilians rescue, because we need all most all of your energy directed towards servicing Sri Lanka, sir. I know I look so selfish. I cannot help it, Sir.
I admit, I am mentioning hostage situation just to get you to be even more energetic feeling this ransom business is bad on Sri Lankan businesses, which is your only passion sir.
Shame on me, sir! Since I am taking the risk, by using Civilians as bait to get you to work even harder to save Sri Lankan Economy, you might die, Sir. Please do not die Sir. Take it easy, Sir.
Please do not blame me, sir, that I am an LTTEer who is trying to get your attention away from Sri Lankan Economy by mentioning this useless Tamils, Sir. That is not my intention, Sir. As you are I am dedicated to Sri Lankan Economy, but shamefully not as much as you are, sir.
I am just trying to get your efforts double, Sir.
Watch your blood pressure, Sir. We need your services. We need you sir. Do not die, Sir.
Wednesday, March 4, 2009
Calling all patriotic Sri Lankans to support the country's cause
Calling all patriotic Sri Lankans to visit the following link and urge the Sri Lankan government to continue the humanitarian operation, untill terrorism is completely wiped off from the Sri Lankan soil. As a country, we have come a long way now against all odds, we are on the brink of flushing off the LTTE terrorists. Lets not let the pressure from any external source effect the governments resolve to finish this menance for good.
http://www.lankapetitions.com/form.php
Kindly visit this web page and sign the petition to authorize the Sri lankan govt to continue with humanitarian operations until terrorism is eradicated.
Please also give any publicity you can to the above link. Also forward the link to every one you know. You may do so by clicking the email icon under the post.
All Sri Lankans out there... The country needs your support now more than ever....
This is the destiny of the innocent Tamil civilians who tried to escape into government controlled areas.
If caught they will be burned alive!!!!!!!!!!!!!!
Extreme brutality of LTTE…… Burning their own people A L I V E !!!!!1……
http://tj-29.blogspot.com/2009/03/real-situation-about-innocent-people-in_06.html
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