July 1, 2016 Reading Time: 2 minutes
Slovakia assumes EU presidency. Image credit - TTStudio / depositphotos
Reading Time: 2 min read
Human Rights Watch reports on Sri Lanka’s progress
The Human Rights Watch (HRW), at the ongoing 32nd session of the UN Human Rights Council, has made a statement on Sri Lanka’s progress in addressing post-war reconciliation and accountability issues. HRW urged the Council to continue its close engagement with the Sri Lankan government until all promised commitments were fully met.
The statement claimed that, despite the landmark steps taken to address serious human rights violations, several key commitments made by the government remained unfulfilled.
World Bank approves credit to Sri Lanka
The International Development Association, a component institution of the World Bank, has granted a line of credit worth USD 125 million to aid in the modernisation of Sri Lanka’s agricultural sector.
The modernisation project aims to develop the agricultural sector’s efficiency, environmental sustainability, and resilience to climate change. The project will be headed by the Ministry of Primary Industries, the Ministry of Agriculture, and five participating provinces.
International Financial Centre to aid job retention
The State Minister of Finance, Lakshman Yapa Abeywardena, has said that the government aims to establish an International Financial Centre in Colombo. The proposed centre would be similar to those found in Hong Kong, Dubai, and Singapore, and will include facilities for arbitration.
The centre is expected to contribute up to 10% of GDP within the next five years, and will assist in the country’s ability to cope with local and global financial fluctuations. It will also provide job opportunities to 15,000 Sri Lankans, and improve job retention.
Leaders gather for Pacific Alliance Summit
Latin American leaders and business persons have gathered in Chile for the annual Pacific Alliance Summit. The Pacific Alliance is one of two Latin American trade blocs, the other being Mercosur.
The leaders seek to deepen energy ties across the regions, and have called for greater financial integration with Mercosur. The Chilean Foreign Minister, Heraldo Munoz, urged the Alliance members to strengthen their relationships and stay clear of isolationism.
Slovakia assumes EU presidency
Slovakia, for the first time since joining the EU, has assumed its six-month rotating presidency. The Slovak takeover comes amidst a Europe-wide refugee crisis, and follows Britain’s referendum on leaving the EU.
The Slovak Prime Minister, Robert Fico, has called for greater participation from EU member states that joined after 2004, and stated that the EU’s future ‘cannot be defined by the decisions of one or two member states’.
US releases human trafficking report
The US State Department has released its annual Trafficking in Persons Report. The report ranks countries into four tiers based on the extent of government actions to combat trafficking during the period 1 April 2015 to 31 March 2016.
During this period, the rankings of 27 nations deteriorated when compared to the previous reporting year. Meanwhile, 20 nations were able to improve their rankings in the same period. Sri Lanka remained unchanged from its ranking in 2013, when it was placed in the third of four tiers.
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