report on ECONOMYNEXT, Jan 14, 2023The International Monetary Fund is working with China on extending maturities of Chinese loans to defaulted countries like Sri Lanka, as there is resistance to hair-cuts, Managing Director Kristalina Georgieva told reporters. IMF had had discussions with China’s Finance Ministry, the People’s Bank of China, the China Development Bank and Exim Bank of China. IMF had discussed with China to find “a pathway for debt resolution of Chad, Zambia, Sri…
Posts tagged as “Sri Lanka”
report in The Morning online, Jan 13, 2023The International Monetary Fund (IMF) board approval for Sri Lanka’s Extended Fund Facility (EFF) is now expected in the second quarter of 2023, Standard Chartered’s Global Research report revealed. Accordingly, the prediction was made owing to delays in securing financial assurances from its bilateral creditors, the report read, adding that this could further delay negotiations with commercial creditors, which are also expected to be pushed back to the…
By Bingun Menaka Gamage in Ceylon Today, Jan 13, 2023Special attention must be paid to the possibility of Sri Lanka men’s cricket team being subjected to the influence of religious cult, ‘Born Again’, as there are clear signs of that happening, recommended the five-member committee appointed to probe various allegations against Sri Lanka men’s cricket team, which had taken place during December 2022 Australia tour. This recommendation was made by the committee after obtaining statements…
report in Daily Mirror, Jan 13, 2023State Minister Premitha Bandara Tennakoon said that approved cadre of the Sri Lanka Army, which now stands at 200,783 will be reduced to 135,000 by 2024. He said it has been projected to reduce the cadre to the right size, which is to 100,000 by 2030. “The strength of the military and sustainable economic development are two sides of a coin, which stay together, but never talk to each…
by Hannah Ellis-Petersen in The Guardian, Jan 13, 2023The supreme court in Sri Lanka has ordered the former president Maithripala Sirisena to pay millions in compensation to the victims of the 2019 Easter bombings, the first time the courts have acknowledged the government’s role in the attacks. The top court found that Sirisena and several other top government, police and intelligence officials were responsible for “failing to prevent” the bombings in April 2019, “despite receiving…
report on ECNOMYNEXT online, Jan 11, 2023 at 6:19 pm– A top United States security officials met Sri Lanka President Ranil Wickremesinghe and discussed maritime matters, the president’s office said, amid rising worries over Chinese activities in the Indian Ocean surrounded by the island nation. Rear Admiral Eileen Laubacher, the US Senior Director for South Asia for National Security Council met President Wickremesinghe and said that the U.S. values Sri Lanka’s partnership and is keen…
report in Daily FT, Jan 12, 2023The talks between several Tamil political parties in Sri Lanka with President Ranil Wickremesinghe have been postponed indefinitely. The group including the Tamil National Alliance (TNA) were set to engage in a marathon round of talks with Wickremesinghe commencing yesterday and continuing till 13 January. Instead, the parties have submitted three demands to President Wickremesinghe calling on him to provide solutions to these within a week’s time. They are…
By K.L. Suraweera in Ceylone Today, Jan 9, 2023President of Jathika Sangha Sabawa, Ven. Liyanwala Sasana Rathana Thera said a group of Buddhist monks who supported politicians should also be held accountable for Sri Lanka’s current unfortunate state, along with politicians and State sector employees. Noting that no one can escape that responsibility, he said these politicians beg for the Maha Sangha’s and public support but once they get the opportunity to enter Parliament what…
report in Ths Island, Jan 8, 2023Sri Lanka began a fresh austerity drive Monday, freezing Government recruitment as new taxes and higher electricity prices kicked in with authorities trying to secure an IMF bailout. The Indian Ocean island nation needs to achieve debt sustainability as a precondition to a $ 2.9 billion bailout from the Washington-based lender after it defaulted in April as its economy went into crisis.The IMF has also asked Colombo to trim…
By Saman Indrajith in The Island, Jan 7, 2023Tourists were facing difficulties due to lack of coordination among institutions tasked with promoting tourism, Chairman of Sri Lanka Tourism Development Authority (SLTDA), Priyantha Fernando said. Fernando said that Russians who arrived at Mattala airport on the Red Wings airline had waited for over four hours due to a shortage of immigration officers, among other things.Fernando said that the industry would also suffer from electricity tariff hikes.…
By Rathindra Kuruwita in The Island, Jan 7, 2023The Sri Lanka Freedom Party (SLFP), Uttara Lanka Sabawa (ULS), and Nidahas Sabawa, would join forces with another party represented in Parliament to form a coalition to contest the coming Local Council election, leaders of the parties said, addressing the media at the Elections Secretariat, yesterday. ULS member MP Wimal Weerawansa said that they would announce the name and the symbol of the new coalition on Monday.…