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COLOMBO (News 1st) – Japan, one of Sri Lanka's main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis, Tokyo's envoy to the country said on Friday.Reaching an agreement with creditors is key to Sri Lanka securing a $2.9 billion bailout package from the International Monetary Fund (IMF)."Japan stands by Sri Lanka in support of the debt restructuring negotiation process so that Sri Lanka can reach the final agreement with the IMF," Ambassador Hideaki Mizukoshi said in an interview.Japan holds around $3.5 billion of Sri Lanka's total bilateral debt of about $10 billion, amounting to 4.4% of the island's GDP, according to government and IMF data.Japan is also a major trading partner."Japan intends to play a constructive role with other creditor countries, including China and India," Mizukoshi said.Sri Lanka is facing its worst economic crisis in decades, with severely depleted foreign exchange reserves leading to prolonged shortages of essentials, including fuel and food.The financial turmoil is the result of economic mismanagement and the impact of the COVID-19 pandemic that upended Sri Lanka's lucrative tourism industry.Although Japan will support the debt negotiation process, Mizukoshi said that talks on large infrastructure projects will only be resumed after Sri Lanka's economy recovers."In the future, when this economic crisis is over and the economic conditions are in good shape, we can restart that kind of discussion," he said.Sri Lanka suspended a $1.5 billion Japanese-funded light rail project for the commercial capital Colombo in 2020, citing financial problems.Regional rival China has built ports,
Iran protests: At least 9 killed as demonstrations over woman’s death spread - fox29.com - Iran - Uae - city Dubai, Uae - city Tehran, Iran
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Iran protests: At least 9 killed as demonstrations over woman’s death spread
Dozens of people stage a demonstration to protest the death of a 22-year-old woman under custody in Tehran Iran on September 21, 2022. (Photo by Stringer/Anadolu Agency via Getty Images) DUBAI, United Arab Emirates - Clashes between Iranian security forces and protesters angry over the death of a 22-year-old woman in police custody have killed at least nine people since the violence erupted over the weekend, according to a tally Thursday by The Associated Press.The scope of Iran's ongoing unrest, the worst in several years, still remains unclear as protesters in more than a dozen cities — venting anger over social repression and the country’s mounting crises — continue to encounter security and paramilitary forces.To prevent protests from spreading, Iran's biggest telecom operator largely shut down mobile internet access again Thursday, said Netblocks, a group that monitors internet access, describing the restrictions as the most severe since 2019.An anchor on Iran's state television suggested the death toll from the mass protests could be as high as 17 on Thursday, but did not say how he reached that figure.In a country where radio and television stations already are state-controlled and journalists regularly face the threat of arrest, the paramilitary Revolutionary Guard urged the judiciary on Thursday to prosecute "anyone who spreads fake news and rumors" on social media about the unrest.
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