Ranil Wickremesinghe: Latest News

IMF approves Sri Lanka’s bailout package under EFF; Sri Lanka can access up to $ 7 Bn

COLOMBO (News 1st); The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding, reported the President's Media Division.President Ranil Wickremesinghe has expressed his gratitude for the support of the IMF and other international partners, said the PMD.It added that the President committed to full transparency in all discussions with financial institutions & creditors, & to achieve sustainable levels of debt through prudent fiscal management & an ambitious reform agenda.The IMF program is critical to achieving this vision & will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists, said the President's Media Division.Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan.The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.President Ranil Wickremesinghe welcomed the announcement:“In the 75 years of Sri Lanka’s independence, there has never been a more critical period for ou economic future. Our official creditors have declared their support following continuous and positive engagements over the last few months, and we are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to US$ 7 billion in funding from the IMF and IFIs.

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Ranil Wickremesinghe - IMF approves Sri Lanka’s bailout package under EFF; Sri Lanka can access up to $ 7 Bn - newsfirst.lk - China - Usa - India - Sri Lanka
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IMF approves Sri Lanka’s bailout package under EFF; Sri Lanka can access up to $ 7 Bn
COLOMBO (News 1st); The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding, reported the President's Media Division.President Ranil Wickremesinghe has expressed his gratitude for the support of the IMF and other international partners, said the PMD.It added that the President committed to full transparency in all discussions with financial institutions & creditors, & to achieve sustainable levels of debt through prudent fiscal management & an ambitious reform agenda.The IMF program is critical to achieving this vision & will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists, said the President's Media Division.Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan.The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.President Ranil Wickremesinghe welcomed the announcement:“In the 75 years of Sri Lanka’s independence, there has never been a more critical period for ou economic future. Our official creditors have declared their support following continuous and positive engagements over the last few months, and we are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to US$ 7 billion in funding from the IMF and IFIs.
Ranil Wickremesinghe - Temple Trees - Sri Lanka will be led to the path of success – President - newsfirst.lk - Sri Lanka
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Sri Lanka will be led to the path of success – President
PMD: President Ranil Wickremesinghe emphasized that the Royal College cricket team’s effective captaincy ultimately led to the team’s victory at a time when all of the matches were being lost and that his effort is to lift the defeated country to the path of victory similar to what the captain of the Royal College cricket team did.The President recalled that when he assumed office last July, the country was experiencing numerous crises such as shortage of fuel, food, and fertilizer. He compared this to the Royal team, which had suffered a string of defeats, and claimed that many people believed the country would not be able to recover.However, President Ranil Wickremesinghe stressed that his team was able to change that situation and create economic stability in the country in the last seven months and emphasized that Sri Lanka is no longer a bankrupt state.President Ranil Wickremesinghe made this statement while addressing the 32nd Interact District Conference held at Temple Trees on Sunday morning (19).He said that everyone would be able to witness a developing country in the next two years, and to make Sri Lanka the most prosperous country in the region, it is necessary to build the economy in addition to stabilizing it today.The President added that the 25-year plan to make Sri Lanka a successful nation by 2048 has already been implemented and it can only be achieved with the commitment of the current youth.This conference was organized by St.
Ranil Wickremesinghe - Sri Lanka will not risk offering debt treatment outside IMF program – President - newsfirst.lk - China - Japan - India - Sri Lanka
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Sri Lanka will not risk offering debt treatment outside IMF program – President
COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe has expressed gratitude to the Paris Club, Japan, India, and China for enabling cooperation required to reach an IMF facility for the country.In an open letter to Sri Lanka's Official Bilateral Creditors, President Wickremesinghe noted that the government deployed all efforts to demonstrate our commitment to the EFF program and relentlessly engage on the path to reforms. He said the administration has already implemented major reforms by way of prior actions agreed with the IMF.The President said his government introduced a robust  reform agenda aimed at achieving debt sustainability, strengthening governance, widening the social safety nets supporting the most vulnerable and ensuring we can grow an inclusive  economy attractive to international business. He said this is how Sri Lanka will improve the lives of its people and ensure they are first in line to benefit from improvements in our economic conditions.The President has requested creditors to maintain and even enlarge and strengthen official bilateral creditor coordination in the context of Sri Lanka's forthcoming engagement. He called on the Paris Club  bilateral partners, in particular Japan, together with all our other official bilateral partners,  including India and China, to garner and foster coordination as you best see fit.The Presidnet noted that Sri Lanka is committed to communicate transparently with all on any debt treatment terms that are agreed with any creditor or group of creditors, before being formalized. The President in his letter has also committed not to resume debt service to any creditor unless that creditor agrees on a comprehensive debt treatment in line with IMF-supported
Ranil Wickremesinghe - Nimal Punchihewa - Final decision on Local Government Election today (24) - newsfirst.lk - Sri Lanka
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Final decision on Local Government Election today (24)
COLOMBO (News 1st); Sri Lanka's Election Commission will meet on Friday (23) to reach a final decision on the 2023 Local Government Election due to the lack of financing and support from state agencies.Earlier, the Election Commission decided to conduct the Local Government Election on the 9th of March 2023.However, the Government Printer had refused to deliver the ballot papers owing to a payment issues, and this led to the National Election Commission to postpone the postal voting process that was scheduled for this wekk.The Chairman of the National Election Attorney Nimal Punchihewa said the Local Government Election was called for legally as per the country's constitutions and the election law.He told News 1st on Thursday (23) that all members of the National Election Commission consented to the Local Government Election Process.He said that given that funds were not being provided to continue with the election process, the National Election Commission will meet on Friday (24) to reach a final decision on the Local Government Election 2023. The statement came from the Elections Chief after Sri Lankan President Ranil Wickremesinghe told Parliament on Thursday (23) that the country's National Election Commission has not legally called for an election, and there are no funds to conduct an election.Commenting on the debate requested by the opposition on postponing the election, the President said there is no election for one to be postponed.The President said the proposed Parliament Select Committee must be appointed to inquire into the Election Commission and the Local Government Election.In the meantime, the petition filed by Retired Sri Lanka Army Colonel W. M.
Ranil Wickremesinghe - President wants Minipe Left Bank Project completed before Maha Season - newsfirst.lk - China - Sri Lanka
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President wants Minipe Left Bank Project completed before Maha Season
President Ranil Wickremesinghe instructed the officials to speed up the Minipe Left Bank Canal Rehabilitation Project (MLBCRP), which has been delayed for over three years owing to various reasons, and to provide its benefits to the farmers before the next Maha Season.The President provided these instructions on Sunday (19) while joining an observation tour of the Minipe Anicut construction site.President Wickremesinghe, after inspecting the plan of the project, also inquired from the engineers about the operation of the project.The President also pointed out the possibility of obtaining the support of the students of engineering faculties in Sri Lanka for the future work of the project.The existing anicut is not sufficient to release water to the left and right bank canals when water is released twice a day from the Rantambe Hydro Power Plant during peak demand for electricity. Due to this, in order to provide more reliable and continuous water supply to Minipe agricultural lands, the Minipe Dam was raised by 3.5 meters and the renovation of the 74 kilometers-long main canal on the left bank of Minipe, was commenced.After the reconstruction of the Minipe Anicut, constant water supply to farmers will be ensured and the cultivation land on both sides of the left bank of Minipe could be cultivated without obstruction in the Yala-Maha Seasons while providing benefits to 15,000 farmer families.The cost of the project is Rs. 3,000 million and the construction work is carried out by China Gexhouba Group Company Limited (CGGC).Minipe Anicut, which was built in 1948, was last renovated in 1980.
Ranil Wickremesinghe - Nimal Punchihewa - Ballot Papers for Postal Voting delayed; NEC yet to decide on holding elections on designated date - newsfirst.lk
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Ballot Papers for Postal Voting delayed; NEC yet to decide on holding elections on designated date
COLOMBO (News 1st); The National Election Commission has informed the Political Party Secretaries that it will not be able to direct the ballot papers for Postal Voting tomorrow (15), as previously planned. This was revealed by the Secretaries of the Political Parties who met with the National Election Commission on Tuesday (14) morning.Earlier, Chairman of the National Election Commission Attorney Nimal Punchihewa speaking to News 1st said that the current state of affairs surrounding the election will be discussed at the meeting. Election Monitors were also summoned for this meeting.The Secretaries of the Political Parties  revealed that the National Election Commission is yet to decide on whether or not the Local Government Election will be held on the 9th of March 2023. They also noted that the National Election Commission is likely to face an issue concerning the Ballot Papers required for postal voting.Palitha Range Bandara, the General Secretary for the United National Party told reporters that the UNP has never called for a delay in elections."How can one even ask for funds from President Ranil Wickremesinghe, after he took over a country that was literally bankrupt," he told the media while leaving the National Election Commission premises.He said that based on the meeting with the NEC it is likely the election would be delayed."If the government says it does not have the funds, if the Government Printer says it cannot print the ballot papers without payment, it is the National Election Commission that needs to decide on the matter," he added.Ranjith Madduma Bandara, the General Secretary of the Samagi Jana Balavegaya told reporters that the National Election Commission had given an undertaking to go ahead with
Sajith Premadasa - Ranil Wickremesinghe - Dinesh Gunawardena - Sri Lanka’s President and PM issues statements to mark the 75th Independence Day - newsfirst.lk - Sri Lanka
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Sri Lanka’s President and PM issues statements to mark the 75th Independence Day
Sri Lanka's President and Prime Minister issued statements to mark the 75th Independence Day.In his message, President Ranil Wickremesinghe says there is a new economic and social reform agenda before the country with the objectives focusing first on recovery and then on renewed development. The Head of State stated it is imperative for us to unite in its implementation so that we can emerge with a high level of economic prosperity. He pledged to make the extremely difficult though vital decisions to achieve this goal with courage and determination. Prime Minister Dinesh Gunawardena in his message to mark the 75th Independence Day said "today, we not only celebrate our freedom, but also pay tribute to the ones who fought for it, to the ones who held a vision for our country, and to the ones who sacrificed themselves for the same." The Premier says the bravery, heroic acts as well as untold miseries suffered by our forefathers during their struggle for freedom of the Motherland must not be allowed to fade away from our memories.The Prime Minister adds the government has taken a series of measures to ensure recovery of the economy, and increase agricultural production to attain self-sufficiency and food security. Opposition Leader Sajith Premadasa also issued a statement to mark the 75th Independence Day. He stated "despite the fact that Sri Lanka has been independent for 75 years, we have failed to make that independence meaningful on national, social, educational, and religious levels."The Opposition Leader stated being trapped in "narrow chauvinism and communalism" is not the way to experience true freedom.
Joe Biden - Ranil Wickremesinghe - Sri Lanka and US have always been strong together – Joe Biden in letter to President - newsfirst.lk - Usa - Sri Lanka
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Sri Lanka and US have always been strong together – Joe Biden in letter to President
COLOMBO (News 1st); US President Joe Biden has conveyed his best wishes to President Ranil Wickremesinghe and the people of Sri Lanka on the occasion of the 75th Anniversary of Sri Lankan Independence.The communication from President Biden was handed over to President Wickremesinghe by the US Under-Secretary for Political Affairs Victoria Nuland when she called on President Wickremesinghe on Wednesday (01), at the President's Office.US President Joe Biden had stated that he looks forward to strengthening and deepening the bilateral friendship even further and, together, continuing to advance the shared values and vision for a peaceful, prosperous and secure future for the people of the two countries.He pointed out that this milestone independence anniversary, coincides with the 75 years of diplomatic relations between the US and Sri Lanka.President Biden acknowledged that the longstanding partnership has helped to advance peace and prosperity across the region and globally. The US President recalled that both nations – throughout their shared history – “have tackled formidable global challenges, including the combatting of climate change, addressing the scourge of human trafficking and maintaining a secure, free and open Indo-Pacific”.President Biden pointed out that bilateral trade and economic ties have been strengthened and deepened, and that Sri Lanka and the U.S., as democracies, have always been stronger when standing together, while being united in a shared commitment to freedom, opportunity and equality, said the President's Media Division.Source: PMD
Sri Lankans - Ranil Wickremesinghe - Julie Chung - US pledges support for Sri Lanka’s recovery efforts - newsfirst.lk - Usa - Sri Lanka
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US pledges support for Sri Lanka’s recovery efforts
COLOMBO (News 1st) –  Victoria Nuland, the Under Secretary of State for Political Affairs of the United States, called on President Ranil Wickremesinghe in Colombo on Wednesday (1).She is on an official visit to the country, and she discussed the economic crisis in Sri Lanka, and the ongoing US assistance to the Sri Lankan people.US Ambassador to Sri Lanka Julie Chung accompanied Nuland for the meeting, where both sides further discussed ways both the United States of America and Sri Lanka are working together toward an inclusive, prosperous and secure future for all Sri Lankans.According to the President's Media Division, the President in his meeting with Victoria Nuland, the Under Secretary of State for Political Affairs of the United States, thanked the US Government for their support during difficult times. Under-Secretary Nuland had pledged the US Government’s support for Sri Lanka's ongoing recovery efforts.The discussion also focussed on the on-going discussions with the International Monetary Fund (IMF), while the U.S. pledged to continue to support the negotiations with the aim of swiftly resolving the issues.The President outlined the measures being taken in regard to the reconciliation talks with the minority parties in Sri Lanka, including the full implementation of the 13th Amendment.Discussions also focussed on the on-going efforts to combat the growing narcotics trade, with the U.S.
Bandula Gunawardena - Ranil Wickremesinghe - President orders to further curtail government expenditure - newsfirst.lk - Sri Lanka
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President orders to further curtail government expenditure
COLOMBO (News 1st); In a note to the Cabinet, President Ranil Wickremesinghe, in his capacity as the Minister of Finance, had stated that the Government revenue at present is far below the monthly expenditure for the month of January 2023.The President's Media Division, and Cabinet Spokesperson Minister Bandula Gunawardena confirmed that the President had instructed on further curtailing government expenses.The President had noted that the Treasury finds it challenging to meet all expenditures at this moment, except for payments for salaries, pensions, welfare, pharmaceuticals and debt servicing.Therefore, President Wickremesinghe had pointed out that the Government expenditure will have to be curtailed further / postponed until planned revenue to be raised on the recent tax revisions is realized, reported the President's Media Division.He had noted that the Treasury will formulate a priority criterion for this purpose.Furthermore, the President had pointed out that public officers should refrain from obtaining goods/services on credit basis, and any officer who violates this will be held personally responsible for such expenditure, said the PMD."The President informed the Cabinet of Ministers that the revenue for January collected from the Inland Revenue Department, Sri Lanka Customs and the Excise Department was Rs. 158.7 Billion.
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