Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 06COLOMBO1602, SRI LANKA: CENTRAL BANK GOVERNOR DESCRIBES ECONOMY'S

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #06COLOMBO1602.
Reference ID Created Released Classification Origin
06COLOMBO1602 2006-10-02 11:39 2011-08-25 00:00 UNCLASSIFIED//FOR OFFICIAL USE ONLY Embassy Colombo
VZCZCXRO6412
RR RUEHLMC
DE RUEHLM #1602/01 2751139
ZNR UUUUU ZZH
R 021139Z OCT 06
FM AMEMBASSY COLOMBO
TO RUEHC/SECSTATE WASHDC 4368
INFO RUCPDOC/USDOC WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUEHNE/AMEMBASSY NEW DELHI 9995
RUEHKA/AMEMBASSY DHAKA 9455
RUEHIL/AMEMBASSY ISLAMABAD 6355
RUEHKT/AMEMBASSY KATHMANDU 4400
RUEHKP/AMCONSUL KARACHI 2031
RUEHCG/AMCONSUL CHENNAI 6912
RUEHLMC/MILLENNIUM CHALLENGE CORP
UNCLAS SECTION 01 OF 02 COLOMBO 001602 
 
SIPDIS 
 
SENSITIVE, SIPDIS 
 
STATE FOR SCA/INS AND EB/IFD/OMA; STATE PASS TO USTR FOR HIRSH AND 
ANAND; COMMERCE FOR E YESIN AND B LOPP;  TREASURY FOR S CHUN; MCC 
FOR D NASSIRY AND E BURKE 
 
E.O 12958: N/A 
TAGS: ECON EINV ETRD PREL CE
SUBJECT: SRI LANKA: CENTRAL BANK GOVERNOR DESCRIBES ECONOMY'S 
STRENGTH TO AMBASSADOR BLAKE 
 
 
1. (SBU) Summary and comment:  Central Bank Governor Nivard Cabraal 
told Ambassador Blake during their introductory meeting that Sri 
Lanka's economy was healthy and its business climate good.  Cabraal 
was making a personal effort to tell multilateral development banks, 
credit rating agencies, and international bankers the positive facts 
about the economy, because reports that reached them often focused 
on the negative.  He also assured the Ambassador that the Rajapaksa 
government was no less business-friendly than its predecessors. 
Cabraal is a more visible and activist central banker than most, but 
should take care to ensure that his boosterism does not harm his 
credibility.  End summary and comment. 
 
Selling Sri Lanka to Donors and Lenders 
--------------------------------------- 
 
2. (SBU) Ambassador Blake began his introductory call on Central 
Bank Governor Nivard Cabraal September 25 by asking about the 
governor's recent meetings with IMF and World Bank officials in 
Singapore.  Cabraal said his objective had been to make senior IMF 
officials more aware of the favorable economic climate in Sri Lanka. 
 Cabraal reported that his audience had been "pleasantly surprised" 
to learn that Sri Lanka's growth was strong and that foreign direct 
investment, exports, and the balance of payments surplus were all up 
this year.  He attributed their surprise to the tendency for bad 
news to be reported in the press while good news was ignored. 
 
3. (SBU) Cabraal added that he and his team had met with credit 
rating agencies and bankers in Singapore and had made the case for 
Sri Lanka's credit rating to be upgraded from its current 
sub-investment grade.  Cabraal had particularly disagreed with the 
rating agencies' Spring 2006 shift of their outlook on Sri Lanka 
from "positive" to "negative."  The raters had been too hasty, 
Cabraal thought.  There had been military skirmishes, but there were 
no riots and investors had not fled.  In fact, Cabraal said, 
investors had ignored the rating swing and had continued investing. 
 
Prospects for U.S. Exports and Investment 
----------------------------------------- 
 
4. (SBU) The Ambassador told Cabraal that the United States and Sri 
Lanka had good economic relations, but that U.S. exports to Sri 
Lanka were too small, particularly when compared with SL's exports 
to the U.S.  With so much business interest in India now, there were 
prospects to increase U.S. trade and investment in Sri Lanka as 
well.  For example, the Indo-Lanka Free Trade Agreement offered ways 
to export to India's still high-tariff market by sourcing products 
from Sri Lanka.  Also, Sri Lanka could capitalize on its workers' 
strong English and accounting skills to attract some back office 
operations and information technology investment that might 
otherwise go to India. 
 
5. (SBU) Ambassador Blake cautioned, though, that instances of 
apparent failure to honor contracts - as in the government's refusal 
to pay American energy company AES for some power it had produced - 
had caused U.S. companies some concern about the investment climate 
in Sri Lanka.  Similarly, newly imposed taxes had given the 
impression that the Rajapaksa government was less business-friendly 
than its predecessor.  Cabraal dismissed this perception, saying 
that he frequently heard businesses claim it was hard to do business 
in Sri Lanka and then soon after report publicly that profits were 
up.  On taxes, there had been policy "shifts," he said, but "nothing 
that should make businesses uncomfortable or hit their bottom line." 
 In fact, Cabraal noted, he and a few others with economic 
portfolios in the Rajapaksa government had formerly been members of 
the opposition United National Party and were known for their 
pro-business approach. 
 
6. (SBU) Cabraal nevertheless agreed that it was important to "get 
thorny issues out of the way so that we can move on with the rest." 
He explained that the government had set up an Investment 
Facilitation Committee, chaired by the President, which was charged 
with "unlocking problems."  "Take AES there," Cabraal advised, 
saying it would be a sympathetic forum. 
 
Oil Exploration Prospects 
------------------------- 
 
7. (SBU) The Ambassador raised the prospect of oil exploration in 
Sri Lankan waters, saying he hoped U.S. companies would be 
 
COLOMBO 00001602  002 OF 002 
 
 
interested and that the Embassy had arranged for the U.S. Trade and 
Development Agency to provide technical assistance.  Cabraal replied 
that the Central Bank had convened a core group to ensure that oil 
exploration would be handled correctly and that Sri Lankans would 
gain expertise in the process. 
 
Financial Intelligence Unit 
--------------------------- 
 
8. (SBU) Governor Cabraal concluded the meeting by stating that 
strengthening Sri Lanka's new Financial Intelligence Unit was 
another priority.  The FIU was studying the transactions associated 
with the recent FBI arrests of LTTE operatives in the United States. 
 The Ambassador replied that the State Department was convening a 
Contact Group meeting to explore how to help Sri Lanka stop money 
and arms from flowing to the LTTE.  The Ambassador appreciated the 
input the FIU had provided in a briefing at the Ministry of Foreign 
Affairs the previous week. 
 
Comment 
------- 
 
9. (SBU) Central Bank Governor Cabraal seems intent on making the 
best possible case for the Sri Lankan economy.  He is right that 
someone should be doing this, but it is risky for that person to be 
the Central Bank Governor.  While the economy has performed very 
well this year, recent inflation and interest rate statistics 
(septel) suggest that the Central Bank has not been tough enough on 
inflation.  Moreover, the current 8% growth rate of the Sri Lankan 
economy should not hide the fact that the GOSL must do much more to 
create a favorable business climate for new U.S. investors. 
 
BLAKE