Basil Rajapaksa Subrahmanyam Jaishankar city New Delhi India Sri Lanka Government crisis Reuters Basil Rajapaksa Subrahmanyam Jaishankar city New Delhi India Sri Lanka

Crisis-hit Sri Lanka seeks further $1 bln credit line from India – Reuters

Reading now: 101
www.newsfirst.lk

(Reuters) – Sri Lanka has sought an additional credit line of $1 billion from India to import essentials amid its worst economic crisis in decades, two sources said on Monday (28), as the Indian foreign minister began talks with the government of its neighbor.The island nation is struggling to pay for essential imports of food and fuel after a 70% drop in foreign exchange reserves since January 2020 led to a currency devaluation and efforts to seek help from global lenders.New Delhi has indicated it would meet the request for the new line, to be used for importing essential items such as rice, wheat flour, pulses, sugar and medicines, said one of the sources briefed on the matter.“Sri Lanka has requested an additional $1 billion credit line from India for imports of essentials,” the second source said. “This will be on top of the $1-billion credit line already pledged by India.”Both sources declined to be identified as the discussions were confidential.The finance and foreign ministries of Sri Lanka, as well as India’s foreign ministry, did not immediately respond to requests seeking comment.Sri Lankan Finance Minister Basil Rajapaksa signed the earlier credit line of $1 billion this month in the Indian capital of New Delhi to help pay for critical imports read moreIndian Foreign Minister Subrahmanyam Jaishankar met Rajapaksa on Monday after arriving in the Sri Lankan capital of Colombo late the previous day.“Discussed the economic situation and India’s supportive response,” Jaishankar said on Twitter, with a photograph of the two officials next to each other.In addition to the credit lines, India extended a $400-million currency swap and a $500-million credit line for fuel purchases to Sri Lanka earlier this year.Sri.

Read more on newsfirst.lk
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Bristol Township man sentenced to 25 - 50 years in prison for sexually abusing boy for 12 years - fox29.com - county Bucks
fox29.com
66%
502
Bristol Township man sentenced to 25 - 50 years in prison for sexually abusing boy for 12 years
David Hofmann, 62, was sentenced to 25 - 50 years in prison after being convicted of sexually abusing a boy for a 12-year period.  BRISTOL TOWNSHIP, Pa. - A Bristol Township man was sentenced to 25 - 50 years in prison for repeatedly sexually assaulting a boy during a 12-year period. According to the Bucks County District Attorney's Office, David Charles Hofmann, 62, was found guilty on charges of rape of a child, involuntary deviate sexual intercourse with a person under the age of 13, indecent assault of a person less than 13 years old and related charges. During sentencing on April 25, the victim said Hoffman destroyed his childhood and impacted every part of his life. According to the DA's office, Hofmann began sexually abusing the victim in 1995 and most of the assaults took place at the victim's home. The victim said Hofmann bought him several gifts over the years to buy his silence. Authorities say he was considered a friend of the victim's family who was referred to as "Uncle Dave." Hofmann also lived with the victim's family at various times over the 12-year-period he abused the victim, officials say. ___MORE LOCAL HEADLINESIn 2007, the victim told his parents about the abuse, but it was not reported to police at that time, authorities say, but the victim's parents recorded a video conversation with Hofmann, where he admitted to sexually abusing their child. The video conversation was played in court during the trial, the DA's Office says. Hofmann also admitted to repeatedly sexually abusing the victim when he was a child in a phone conversation. The victim, who is now in his 30s, reported the abuse in February 2020, 13 years after it ended, authorities say. Advertisement"With his brave decision to come forward
Philadelphia releases updated deadline for city police officers to get COVID-19 vaccine, request exemption - fox29.com
fox29.com
74%
160
Philadelphia releases updated deadline for city police officers to get COVID-19 vaccine, request exemption
PHILADELPHIA - On Monday, the City of Philadelphia announced the new timeline for the implementation of the workforce vaccine mandate. According to an arbitration panel governing the mandate for employees represented by the Fraternal Order of Police, this is the final update on the matter. On February 1, the panel issued requirements, including a mandate for officers to be vaccinated by February 18. That mandate was delayed on February 28 and unvaccinated or partially vaccinated employees were not punished or placed on leave at that time. According to the panel, as of April 13, 97% of the Philadelphia Police Department have either been fully vaccinated, received at least a single dose or requested a medical or religious exemption. "Only a handful of active-duty officers remain out of compliance with the City's COVID-19 vaccination mandate policy as of Wednesday, April 13," a release from the City said. Under the new timeline, employees who do not provide proof of at least a first dose of a COVID-19 vaccine or a request for exemption by May 31 will be placed on Unvaccinated Leave beginning June 6. Employees who are currently on leave must comply with the mandate by May 31.Unvaccinated employees will be required to follow additional protocols including, double-masking, wearing an N95 mask or submitting to routine COVDI-19 testing. ___RELATED HEADLINESEmployees who have received at least one dose of a COVID-19 vaccine by May 31 will have 14 days of the schedule prescribed for the vaccine they received. For employees whose exemption requests were denied, 10 calendar days will be given to file for an appeal.
Basil Rajapaksa - No conditions for Indian loan, SL has to pay back in three years: Basil - newsfirst.lk - Usa - India - Sri Lanka
newsfirst.lk
89%
601
No conditions for Indian loan, SL has to pay back in three years: Basil
COLOMBO (News 1st); No conditions have been underlined for the USD 1 billion loan given by India, however, the amount will have to be paid back in installments after three years, said Finance Minister Basil Rajapaksa.The President is acting on a very prudent and a long-term plan, says Finance Minister Basil Rajapaksa on repaying the country’s loans after his entourage returned from India this afternoon. The Finance Minister returned to the country after signing agreements for a US $ 1 billion financial assistance from India. In addition to this $ 1 billion, India has already provided a $ 400 million loan, a $ 500 million loan to purchase petroleum and another $ 500 million via the Asian Clearing Union.Accordingly, the value of loans and relief facilities provided by India to overcome the current economic crisis is about US $ 2.4 billion in total. The Minister of Finance, speaking to media stated that Sri Lanka’s neighbor India has proven that it stands by Sri Lanka with this action, especially with Prime Minister Modi mentioning that all the support that Sri Lanka needs is being provided directly, both economically and socially.The Finance Minister said that Prime Minister Modi has learned of the organic farming and the interest shown by the President with regard to it, and although a shortage of nano fertilizer exists in India, they agreed to provide Sri Lanka with the required quantity.Rajapaksa also stated that India gave Sri Lanka a loan of US $ 1 billion to purchase food and other necessities for the people, especially for the upcoming Sinhala Tanil New Year, and the relevant loan has been in operation since yesterday (17).I urge all business communities to make it very transparent, giving priority to things which
DMCA