county Will: Latest News

All news where county Will is mentioned

Kristalina Georgieva - Julie Chung - US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical - newsfirst.lk - Usa - Sri Lanka - county Will
newsfirst.lk
76%
345
US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical
COLOMBO (News 1st); The United States of America has welcomed the approval of Sri Lanka’s IMF package."Great news & an important step on the road toward economic recovery," tweeted US Ambassador to Sri Lanka Julie Chung on Monday (20).She said that the Sri Lankan government will need to continue reforms and conclude debt restructuring agreements to ensure the program – and the economy – stay on track.She noted that structural & lasting reforms that address good governance & transparency are critical to ensure all citizens of Sri Lanka can prosper.IMF Managing Director Kristalina Georgieva also noted that she was very pleased the Executive Board of the IMF had approved about $3 bn of IMF support for Sri Lanka’s economic policies & reforms. She said that it was an important milestone with International Creditors coming together to help to restore debt sustainability. "Crucial to unlock Sri Lanka's growth potential," she added.The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.
Will Sri Lanka opt for debt-for-nature swap deal? - newsfirst.lk - Sri Lanka - county Will - Ecuador - Cape Verde - Seychelles
newsfirst.lk
49%
386
Will Sri Lanka opt for debt-for-nature swap deal?
COLOMBO (News 1st) – Countries with large debt burdens are losing even more capital due to climate shocks, and shrinking their fiscal space, and these countries are now looking for other options to ease their burden.Some of these countries are now opting to switch to a debt-for-nature swap deal, which is an arrangement whereby a foreign debt owed by a developing country is transferred to a particular organization, typically in return for the country's committing itself to specified conservation measures.These can be trumped up countries, including Sri Lanka, which has been discussing a deal of up to $1 billion according to people familiar with those talks.Cape Verde, an archipelago nation off West Africa, is meanwhile close to a nature swap that could be worth up to $200 million, said Jean-Paul Adam, a former Seychelles government official who now works for the U.N. Economic Commission for Africa (UNECA), providing financing advice to governments.The potential deals for Ecuador, Sri Lanka and Cape Verde, reported here in detail for the first time, point to a jump in interest for this form of financial alchemy, which was conceived decades ago but has remained something of a niche area until recently.Only three of over 140 or so swaps struck over the past 35 years – the first in 1987 – had a value of more than a quarter of a billion dollars, according to global data published by the African Development Bank.
DMCA