Wickremesinghe and Musk Discuss Starlink in Sri Lanka
At the 10th World Water Forum High-Level Meeting in Indonesia, Sri Lankan President Ranil Wickremesinghe engaged in talks with tech entrepreneur Elon Musk regarding the potential introduction of the Starlink satellite internet service to Sri Lanka. The discussions were centered around expediting the application process for Sri Lanka to join the global Starlink network, which is designed to improve internet connectivity within the country. This initiative is part of Sri Lanka's broader goal to enhance its digital infrastructure and promote technological innovation nationwide.
In related economic news, the Ceylon Electricity Board group, a state-run entity in Sri Lanka, reported a significant profit in the March 2024 quarter. This financial gain was attributed largely to a 25.9 billion rupee capital gain following a transfer of shares. The quarter also saw the Sri Lankan rupee appreciate, contributing to lower imported fuel prices. This fiscal performance was influenced by the central bank's decision to allow the exchange rate to appreciate, coupled with a deflationary policy and reduced private credit demand, which together aided in decreasing the costs of imported fuel.
The engagement between President Wickremesinghe and Musk at the forum also included discussions on Sri Lanka's economic recovery and potential investment opportunities. The meeting, which emphasized the importance of international cooperation in leveraging advanced technologies for sustainable development, was held against the backdrop of Musk's anticipated launch of Starlink in Bali, and his collaboration with Indonesian President Joko Widodo to enhance connectivity in Indonesia's health and education sectors.
