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March 30, 2016    Reading Time: 2 minutes

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Sri Lanka’s Central Bank signs currency swap deal with Indian counterpart. Image credit - Yakov_Oskanov/depositphotos

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Central Bank signs currency swap deal with Indian counterpart

Under a new currency swap agreement, the Indian Central Bank announced that it would allow its Sri Lankan counterpart to draw up to US $700 million, over a maximum of 3 months.

The Reserve Bank of India has in the past engaged in similar currency swaps with the Central Bank of Sri Lanka.

Mano Tittawella appointed Secretary General of SCRM

Mr. Mano Tittawella has been appointed as the new Secretary General of the Secretariat for Coordinating Reconciliation Mechanisms (SCRM). He is the current Chairman of EAP Holdings and has previously served as a senior Presidential Advisor and Chairman of the Task Force to Rebuild the Nation.

The SCRM will coordinate reconciliation mechanisms at the national level and establish a suitable framework for their implementation.

Sri Lanka and Cuba launch Parliamentary Friendship Association

Speaking at the Sri Lanka-Cuba Parliamentary Friendship Association, the Ambassador of Cuba to Sri Lanka, HE Florentino Batista Gonzalez, emphasized the historic relations between the two countries, as foundation to further strengthen bilateral ties.

The Deputy Speaker, Thilanga Sumathipala, also underlined the long-standing relations of Sri Lanka and Cuba, which span 57 years.


Htin Kyaw sworn in as President of Myanmar

Htin Kyaw from the National League for Democracy (NLD), has been sworn in as President of Myanmar. He is effectively the country’s first elected civilian leader in over 50 years.

The swearing-in will complete the transition of power that began with the NLD’s victory in the general election held last November.

Main party in Brazilian Congress quits ruling coalition

The Brazilian Democratic Movement party, which is the largest constituent party in Brazil’s congress, has removed itself from the ruling coalition.

The party’s exit is widely regarded as a major setback to President Dilma Rousseff’s chances of completing her four-year term in office.

Cyprus remands alleged hijacker of EgyptAir flight

The supposed hijacker of the EgyptAir flight has been apprehended, after the plane made an emergency landing at Larnaca airport in Cyprus.

A court has ordered the suspect to be held under custody on suspicion of hijacking, abduction, threatening violence, terrorism-related offences, and two counts related to possession of explosives. 

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