Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Sri Lanka's mounting political unrest
By Shihar Aneez and Ranga Sirilal
Published in The Saudi Gazette on 15 - 02 - 2010

Hundreds of Sri Lankan lawyers staged a silent march in the capital on Friday on a third day of street protests aimed at winning the release of losing presidential candidate Sarath Fonseka.
Here are some questions and answers on the political and economic implications of unrest in the island following the end of a 25-year war against Tamil Tiger separatists last year.
What does the opposition
plan to do now?
The opposition has seized on Fonseka's arrest to try and recover ground following President Mahinda Rajapaksa's sweeping election victory last month. It plans to press on with nationwide protests leading up to parliament elections scheduled for April 8.
The thrust of the campaign would be to portray Rajapaksa as an anti-democratic leader. Separately, led by Fonseka's wife, the opposition has mounted a legal challenge to his arrest, petitioning the Supreme Court that his detention in military custody was a violation of fundamental rights.
What will the government do?
Rajapaksa is hoping that a victory for his party in the parliament election would silence all of his critics, following his own win in the presidential election last month. By advancing the election, he is aiming to deny the opposition much time to recover ground.
The ruling party is expected to mobilize state resources including the government-controlled media to counter the opposition.
What will be the impact on
the post-war economy?
Sri Lanka's $40 billion economy is poised to grow over 6 percent this year on post-war optimism, but it could take a hit if unrest persists and foreign investment slows.
The stock market was among the world's top performers with 125 percent return last year. Foreign investor confidence surged after the IMF approved a $2.6 billion loan in July. Since then, foreigners have invested $1.6 billion in government securities.
But this year, foreign investors have already sold a net of 4.3 billion rupees worth shares and around 1.8 billion rupees since the election results were announced last month.
Analysts, however, say over the longer term the issue of whether Rajapaksa will stick to the IMF budget deficit targets and improve macroeconomic fundamentals will matter more than the current round of political instability.
If the IMF pulls out, Sri Lanka could see a rapid withdrawal of foreign funds, a rating downgrade, and commercial borrowing rates rising just as the country's central bank is eyeing a 10-year $500 million bond issue after April.
What are international
implications?
Foreign assistance for reconstruction and rebuilding of the war-torn north and east will be threatened if Sri Lanka does not heed international calls to respect the rule of law and ensure the safety and rights of the opposition.
Analysts say the European Union (EU) could withdraw $150 million worth of trade concessions that help the garment industry, the country's top export earner.


Clic here to read the story from its source.