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27.02.2023 / 12:51

World Bank’s IFC to provide Sri Lanka with $400 mn financing

(Reuters) – The International Finance Corporation (IFC), the World Bank's investment arm, said it will provide Sri Lanka a $400 million cross-currency swap facility to help fund essential imports.Three private banks, which together deal with over 30% of Sri Lanka's remittances and exports, will receive the facility to fund essential imports, including medicine, food and fertiliser, the IFC said in a statement on Monday (27).The funds will provide a much needed foreign exchange cushion for Sri Lanka, which is grappling with its worst financial crisis in over seven decades partly triggered by a severe shortage of dollars.The island nation's economy is estimated to have contracted by 9.2% in 2022 and is expected to shrink a further 4.2% in 2023, according to World Bank data."We expect this financing to boost confidence in the investor community, attract fresh capital inflows to support the Sri Lankan economy," said Joon Young Park, IFC's Portfolio Manager, Financial Institutions Group for South Asia.IFC is also working on further plans to support client banks with other long-term funding and advisory services in the future, the statement added.Sri Lanka signed a preliminary agreement with the International Monetary Fund (IMF) for a $2.9 billion bailout last September but has to put its debt on a sustainable repayment track before the funds can be disbursed.

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‘What they did during Covid lockdown…,’ MEA S Jaishankar speaks on India-China patch-up

China along the Line of Actual Control (LAC) had occurred while the lockdown was just getting underway. "We were completely preoccupied with the COVID challenge. Please appreciate the anonymity of what Prime Minister Modi did.

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NYC billionaire financier found dead in Manhattan office from self-inflicted gunshot wound: report

Ilana D. Weinstein and Thomas H. Lee attend the Lincoln Center's Alternative Investment Industry Gala at David Geffen Hall on November 21, 2022 in New York City.

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Police: Toddler, 5 teens among 7 injured in shooting near Strawberry Mansion school

STRAWBERRY MANSION - Seven people were shot in Philadelphia's Strawberry Mansion neighborhood, police say, including five teens, a 2-year-old and the mom of two of those victims, as an after school program was just wrapping up.Philadelphia police commissioner Danielle Outlaw speaks at the scene of a mass shooting in Strawberry Mansion that left seven injured including five teens and a toddler.Officials say the shooting happened at the intersection of 30th and Norris streets Thursday evening, just before 6 p.m., near the school yard of the James Blaine School.The victims ranged in age from 31 to 2. Their injuries are:1. 31-year-old female shot two times in her leg.

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India’s ties with Sri Lanka are different: Jaishankar

While Pakistan grapples with an economic crisis that threatens life as many citizens know it, Indian External Affairs Minister Dr. S.

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Japan to deliver diesel worth $ 46 Mn for Sri Lankan hospitals

COLOMBO (News 1st); Sri Lanka and Japan singed Exchange Notes for a humanitatrian grant of USD 46 Million.Mahinda Siriwardena, the Secretary to the Ministry of Finance, and Mizukoshi Hideaki, the Ambassador of Japan, signed an Exchange of Notes to secure a humanitarian grant of USD 46 million. The purpose of the grant is to provide diesel fuel to public hospitals throughout Sri Lanka. The signing ceremony took place at the President's Office, with President Ranil Wickremesinghe in attendance.Under this agreement, the Government of Japan has committed to supplying 20 million litres of diesel fuel.

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Unite to overcome economic crisis and promote reconciliation – President

COLOMBO (News 1st); Sri Lankan President President Ranil Wickremesinghe urged all citizens, including politicians, professionals, teachers, those engaged in agriculture, the business community, and members of the security forces, police and civil servants, to work together to overcome the current economic crisis and promote reconciliation efforts.He was speaking at an event at Royal College, Colombo that was held to honour President Wickremesinghe, who is an alumnus of Royal College. The President called upon the present generation of Royalists to dedicate themselves to serving the country and transforming it into a place where they would like to reside. He urged young Royalists to take up the challenge and shape the future of the nation."We have two difficult tasks in this country.

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Rep. Barbara Lee officially launches U.S. Senate campaign

OAKLAND, Calif. - Congresswoman Barbara Lee (D-Oakland) officially announced on Tuesday that she’s running to replace U.S. Senator Dianne Feinstein in 2024. "The Senate needs a perspective that I bring with my life experiences, as a progressive Black woman who not only fights for what is right, but also gets the job done," Lee told KTVU in her first TV interview of the campaign.

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Economic crisis cannot be solved through legal action – President

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe has emphasized the importance of having a proper plan to strengthen the country’s economy, during a meeting with businessmen and lawyers in the Kandy district.According to the President's Media Division. the President had noted that the primary issue facing the country is its economic problem, and addressing it should be a top priority.The President has also noted that the upcoming election is not a means to change the government.

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JICA to resume projects after IMF deal is finalized

COLOMBO (News 1st); JICA is set to resume its ongoing projects in Sri Lanka no sooner the IMF package on debt restructuring finalized, said the Prime Minister's Media Division.Prime Minister Dinesh Gunawardena urged the Japan International Cooperation Agency (JICA) to recommence all the ongoing projects that are temporarily halted due to fiscal issues.He made this request when Director General of the South Asia Department of the Japan International Cooperation Agency (JICA), Teruyuki Ito met him on Monday (20).Teruyuki Ito assured the Prime Minister that JICA projects would be resumed no sooner the debt restructuring programme is finalized by the International Monetary Fund.12 JAICA projects worth US$ 2.5 billion have been temporarily halted due to the fiscal crisis. The JICA delegation had expressed satisfaction over the progress in debt restructuring plans, in which Japan also played a major role.The Prime Minister thanked JICA Director General for the continuous assistance provided to Sri Lanka for several decades for water treatment, sewerage, sanitation and solid waste treatment projects in several cities and towns. He also requested JICA to provide assistance in new areas such as renewable energy and electrification of public transport and railways.Prime Minister Gunawardena also briefed the JICA delegation about the steps taken to improve transparency and accountability in project implementation by enacting required legislations as recommended by the Committee appointed by the President. He added that a Budget Act would be passed to ensure continuation of nationally important projects and policies despite change of governments in power.

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Banking industry will be protected, assures Central Bank Governor

COLOMBO (News 1st); Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe has assured that measures are being taken to ensure the safety and protection of the banking industry.He was speaking at the 33rd Anniversary convention of the Associations of Professional Bankers in Colombo on Monday (20)."In this kind of situation (present economic crisis) we all know banks are not in an easy situation like we had in the past.

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Japan’s Mitsubishi, Taisei scale back in Sri Lanka

TOKYO/MUMBAI — Japanese companies like Mitsubishi Corp. and Taisei Corp.

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Ex-CNN anchor Chris Cuomo says firing consumed him: 'I was gonna kill everybody, including myself'

If you or a loved one is feeling distressed, call the National Suicide Prevention Lifeline. The crisis center provides free and confidential emotional support 24 hours a day, 7 days a week to civilians and veterans. Call the National Suicide Prevention Lifeline at 1-800-273-8255.

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Nicola Bulley latest as family release statement detailing missing mum's health struggles

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Officials: 23-year-old man fatally stabbed inside Trenton arena during basketball tournament

TRENTON, N.J. - Trenton police are investigating the fatal stabbing of a 23-year-old Trenton man.Mercer County officials said the stabbing happened in Trenton Thursday night, about 8:30, at the CURE Arena.A high school basketball tournament was taking place inside the arena when someone stabbed the man, identified as 23-year-old Khalil Glanton, of Trenton, multiple times inside the arena.He was rushed to Capital Health Regional Medical Center, where he died a short time later.James Earle, the Superintendent of Trenton Public Schools, said Glanton was a 2019 Trenton Central High School graduate. According to Earle, the incident was recorded and posted on social media. and crisis teams have been activated at local schools to help struggling students and staff members. "The past two weeks have been traumatic for our TPS family.

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Niagara Falls plunge: Woman, 5-year-old son fall 90 feet; police 'don't believe it was an accident'

FILE - A view of Niagara Falls as it is partially frozen due to extreme cold weather in the Northeast in New York, United States on Dec. 27, 2022.

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Sri Lanka, India to sign power grid linking pact within two months – envoy

(Reuters) – Sri Lanka and India will sign a pact to link their power grids and start negotiations on an upgraded trade agreement within two months, a Sri Lankan diplomat said on Wednesday (15), as the island nation seeks a way out of its worst economic crisis in decades.India has provided some $4 billion in assistance to its southern neighbour since the crisis hit early last year, but Sri Lanka is now seeking to enhance trade and investments as it moves to close a $2.9 billion loan from the International Monetary Fund, the country's envoy to New Delhi told Reuters."We have to have growth, otherwise basically the economy will shrink," Milinda Moragoda, the Sri Lankan High Commissioner to India said."As far as growth is concerned, India offers that prospect. So we will have to move on that.

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Talk of the Town | 15 Feb 2023 | SL crisis: why is assistance difficult to obtain? | Senior Retired Deputy Governor of CB, Dr. W.A.Wijewardena in conversation with Faraz Shauketaly

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Brooklyn U-Haul rampage suspect charged with murder, attempted murder

NEW YORK - The man alleged to have been behind the wheel of a U-Haul truck that struck multiple people on and off the street in Brooklyn has been charged.Police say Weng Sor, 62, a man with a significant violent criminal history in Nevada, has been charged with one count of second-degree murder and seven counts of attempted murder.Police said at a press conference on Tuesday that after interviews with his family members and interrogation, they believe Sor was suffering from a mental health crisis. The NYPD announced Wednesday that Weng Sor, 62, a man with a history of mental illness and violent criminal incidents, has been charged with one count of second-degree murder and seven counts of attempted murder after going on a rampage in a U-Haul truck in Brooklyn, striking pedestrians and killing one man.According to NYPD officials, Sor, who lives with his mother in Las Vegas, traveled to West Palm Beach in Florida on February 1 to rent a U-Haul truck. On February 5th, while traveling through South Carolina, en route to New York, he was stopped for reckless driving and marijuana possession by highway patrol. On February 6, Sor arrived at his ex-wife and son's residence, and a few days later on February 8, had an altercation with his son.

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SJB presents its economic policy ‘The Blue Print’

The Samagi Jana Balavegaya on Tuesday (14) presented its Economic Policy in Colombo.Blueprint 2.0: is a Ten-Point Program for Economic Stabilisation and Equitable Growth.1. Transparency and Accountability2. Debt Crisis Management3.

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CEB and PUCSL told to discuss tariff hike

COLOMBO (News 1st); The National Council informed officials of the Ceylon Electricity Board and the Public Utilities Commission of Sri Lanka hold discussions before the Public Utilities Commission takes the final decision on the 15th of February regarding the electricity tariff.Accordingly, the officials of both parties agreed to meet this afternoon (13) for the purpose of discussing this matter.The Chairman of the Electricity Board said that if the required percentage is not allowed to be increased in a background where the Electricity Board is demanding a 60% increase in electricity tariffs, it will have to face a serious crisis. Accordingly, he pointed out that due to the lack of money even to import coal in the future, there is a risk for longer power cuts.The officials of the Public Utilities Commission said that arrangements are being made to announce the final decision on the electricity increase on the 15th of February.

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IMF, India, WB to chair Sovereign Debt Roundtable

(Reuters) – Officials from China, India, Saudi Arabia and Group of Seven nations will participate in a first virtual meeting of a new sovereign debt roundtable on Friday, the International Monetary Fund said on Monday, confirming an earlier Reuters report.The roundtable will also include officials from countries that have requested debt treatments under the Group of 20 common framework – Ethiopia, Zambia and Ghana – as well as middle-income countries such as Sri Lanka, Suriname and Ecuador, which have faced their own debt crises, three sources had earlier said.The meeting will be co-chaired by the IMF, the World Bank and India, the current leader of the Group of 20, and comes a week before G20 finance officials are due to gather in Bengaluru, India, from Feb. 23-25.

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White House defends decision to shoot down three unidentified objects

Chinese balloon that traversed American airspace earlier this month.The three objects, including one shot down Sunday over Lake Huron, were traveling at such a low-altitude as to pose a risk to civilian air traffic, said White House national security spokesman John Kirby. And though the Biden administration does not yet have evidence that they were equipped for spying purposes, or even belonged to China, officials also couldn't rule it out either, he said.RELATED: How a suspected Chinese spy balloon is different than America’s classic weather balloonLocations where U.S. warplanes have shot down objects over North America in Feb.

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4 students charged, superintendent resigns after taped beating of New Jersey teen who later took own life

Adriana Kush's father is seeking justice. (Michael Kuch) This story contains details that are disturbing. If you or someone you know is having thoughts of suicide, please contact the National Suicide Prevention Lifeline at 988Four students have been charged, and a school district superintendent has resigned, after a recorded attack against a 14-year-old New Jersey student in the hallway of her school spread on social media in the days before her family says she took her own life.One juvenile was charged with aggravated assault, two were charged with conspiracy to commit aggravated assault and one was charged with harassment, prosecutors in Ocean County said Saturday.All four juveniles and their guardians were given copies of the complaints, and they were released pending future court appearances, Ocean County Prosecutor Bradley D.

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How to help earthquake victims in Turkey and Syria

Search and rescue efforts continue at collapsed buildings after 7.7 and 7.6 magnitude earthquakes hit multiple provinces of Turkiye including Kahramanmaras, Turkiye on February 13, 2023. Citizens continued to wait around the debris.

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US funded fortified rice shipments in Sri Lanka

An initial shipment of 600 metric tons of fortified rice funded by the U.S. Agency for International Development (USAID) arrived in Sri Lanka last week to support the Government of Sri Lanka’s national school meal program.According to a Crop and Food Security Assessment Mission report by U.N.’s World Food Program (WFP) and the Food and Agriculture Organization, nearly thirty percent of the Sri Lankan population is currently facing food insecurity.

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Lanarkshire communities break down mental health barriers in successful Time to Talk Day

People across Lanarkshire have joined the UK’s biggest conversation on mental health stigma for Time to Talk Day.

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Petition challenging LG Election postponed to 23rd February

COLOMBO (News 1st); The petition filed by Retired Sri Lanka Army Colonel W. M.

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Swiss Govt. to support needs of kids in Sri Lanka though UNICEF

The Government of Switzerland has contributed Swiss Francs (CHF) 500,000 through UNICEF to meet the urgent needs of children impacted by the economic crisis in Sri Lanka.With this funding, UNICEF will procure essential medical supplies, including medicines for treatment of illnesses and complications among children and women.In education, the funds will help children in disadvantaged schools continue learning and support catch-up classes to recover learning loss, including by providing transport allowance to teachers and daily snacks to students.UNICEF will also support case management for children facing violence, neglect and family separation, including children with a disability.“UNICEF and partners swiftly responded to the needs of the most vulnerable children from the outset of the economic crisis last year, with thanks to the support of donors. This contribution from the Swiss government and people is crucial in sustaining the response and protecting children from the effects of the crisis as it continues”, said Christian Skoog, Representative, UNICEF Sri LankaThe Swiss contribution will also be used to support data collection and analysis to assess the impact of the on-going crisis on households’ social and economic well-being and vulnerabilities, to help national and development partners put in place effective response strategies.“Switzerland has worked closely with many partners, including UNICEF in addressing the needs of communities during crises such as the one that Sri Lanka faces now.

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“I’m not here to be popular; new tax policy is an unpopular decision” – President

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe said that if the country continues according to the existing plan, Sri Lanka can rise out of bankruptcy by 2026.While delivering his Government’s Policy Statement following the ceremonial opening of the parliament session, President Wickremesinghe said that people will realize the importance of the present unpopular decisions in two to three years."Due to the measures taken, we have been successful in reducing the burden gradually. Now there is stability in the economy. People are comfortable.

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Dumfries and Galloway homelessness levels higher than before coronavirus pandemic

The level of homelessness in Dumfries and Galloway is higher than it was before the pandemic.

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Bondholders Group prepared to engage with Sri Lanka on Debt Restructuring

COLOMBO (News 1st) – The Ad Hoc Group of Sri Lanka Bondholders (the "Bondholder Group") in a letter to the IMF Managing Director has confirmed it is prepared to engage, through its Steering Committee, with the Sri Lankan authorities in restructuring negotiations consistent with the parameters of an IMF Programme and the targets specified therein (the "IMF Programme Targets").The Ad Hoc Group of Sri Lanka Bondholders (the "Bondholder Group") has acknowledges the Sri Lankan authorities' engagement with their official creditors towards a resolution of the current crisis and restoration of debt sustainability.The Bondholder Group further acknowledged that such engagement has recently resulted in the Government of India (in its letter to the IMF, dated January 16, 2023 (the "India Letter")) delivering letters of financing assurances, committing to support Sri Lanka and contribute to its efforts to restore debt sustainability by providing debt relief and financing consistent with the IMF Extended Fund Facility Arrangement (the "IMF Programme") and the IMF Programme targets indicated in the India Letter.Similarly, the Bondholder Group through its Steering Committee stands ready to engage quickly and effectively with the Sri Lankan authorities to design and implement restructuring terms that would help Sri Lanka restore debt sustainability and allow the country to re-gain access to the international capital markets during the IMF Programme period.The Bondholder Group understands that the IMF Programme's debt sustainability targets are identified as (i) reducing the ratio of public debt to GDP to 95% by 2032, (ii) limiting the central government's annual gross financing needs to GDP ratio to 13% in the period between 2027 and

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Don’t blame covid for the worker shortage

The ranks of American workers are thinning—often because people aged out of the workforce, or never entered it. Their absence could impede the economy’s ability to grow, and make for a less prosperous future. “Your call is very important to us—please stay on the line." Some customer service agents have moved on to more lucrative pastures during the pandemic, but a lot of America’s “missing workers" might never be coming back.

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Exercise increased caution in Sri Lanka; New Zealand tells travelers

COLOMBO (News 1st) – New Zealand has advised its citizens to Exercise increased caution in Sri Lanka due to the impacts of the economic crisis, the potential for civil unrest and the risk of terrorism.The Ministry of Foreign Affairs and Trade for New Zealand in its official portal noted that Sri Lanka has stabilised somewhat since the widespread shortages and associated large protests and consequent changes in political leadership in mid-2022. There are still sporadic shortages of basic goods including medicines and some food due to the economic position of the country and living conditions of Sri Lankans, which have significantly deteriorated in the past year. It added that there is a restricted/limited supply of fuel including diesel, petrol and cooking gas, which is being rationed. The rationing system has reduced queues but there may occasionally be difficulties or delays obtaining specific types of fuel, particularly outside of Colombo.It added that Travellers should ensure they have transport plans and contingency plans in place ahead of any journeys to or around Sri Lanka. It also advises New Zealanders in Sri Lanka to avoid protests, demonstrations, political rallies and events, large crowds and queues. On Terrorism, New Zealand says there is an ongoing threat of terrorism in Sri Lanka.It added that in response to the 2019 April Attacks, the country’s security presence has increased, and security has since improved across the country.More details on : https://www.safetravel.govt.nz/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.

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Maldives Ex-President meets President Wickremesinghe in Colombo

COLOMBO (News 1st) : Former Maldives President Maumoon Abdul Gayoom met with Sri Lankan President Ranil Wickremesinghe on Friday (27).The Former President of the Maldives is currently in Sri Lanka on a personal visit, and was accopanied by his son Faris Maumoon on his trip.Gayoom met with Wickremesinghe at the Sri Lankan President’s Office, where the two spoke about the bilateral ties between the two countries. The two spoke about ways of improving the longstanding cooperation.

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140 essential medicines out of stock in Sri Lanka’s state hospitals – GMOA

Colombo (News1st) – "At least 140 types of essential medicines are completely out of stock in state hospitals," exclaimed Dr. Chamil Wijesinghe, the Media Spokesperson for Government Medical Officers Association.Access to medicines and medical supplies have dropped significantly in Sri Lanka while the island nation continues to struggle under the weight of its worst economic crisis in recent history.Medical professionals point out that the medicine shortage has now turned into a crisis. Medical associations explain that the shortage of medicines, medical equipment, and delays in testing have exposed patients in hospitals to many risks.

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Sri Lanka Government threatens legal action against the state’s own Human Rights Commission

Colombo (News 1st) – Sri Lanka’s Government has taken the extraordinary decision to ‘definitely prosecute’ members of the Human Rights Commission of Sri Lanka, the state’s own human rights protection body, a key government minister announced Sunday (29th).In addition, on the same matter, the government is preparing charges to remove the Chairman of the Public Utilities Commission of Sri Lanka, the controlling body for electricity distribution, a decision that ruling party MPs have approved, the minister said.The dispute swirls around an order by the Human Rights Commission (HRCSL) that the state-owned power company, Ceylon Electricity Board, which has a monopoly on power supply nationwide, should not impose power cuts during a 2-week period in January when high school senior students are sitting their main exams, the GCE Advanced Level, as it infringes upon the children’s right to education.The Advanced Level exams are crucial in that they determine entrance into the state university system. Entry into Sri Lanka’s state universities is fiercely competitive, with only about 25,000 students gaining admission annually although over 300,000 sit the exams.Last week the HRCSL acted upon a large number of complaints from parents of students and summoned the Secretary of the Ministry of Power and Energy, the members of the Public Utilities Commission of Sri Lanka (PUCSL), both of which are governing bodies of the power company, and several other related bodies, and obtained a promise that there would be no power cuts.However, the Ceylon Electricity Board flouted the order of the HRCSL and the PUCSL and went ahead with the power cuts.

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CPC warns of financial issues as fuel is supplied on credit to CEB

COLOMBO (News 1st) – Sri Lanka's Human Rights Commission has received a letter bearing the signature of the Managing Director of the Ceylon Petroleum Corporation stating that the present financial situation at the CPC could lead to a disruption of operations at the country's oil refinery.The letter noted that the CPC is heading towards a situation where future fuel imports will be in jeopardy as fuel is continuously provided on credit.The letter from the CPC Managing Director warns that this could lead to another fuel crisis in the country.The letter bearing the signature of the Managing Director of the Ceylon Petroleum Corporation states that it is paramount to ensure the continuous operation of the country's oil refinery when providing a continuous supply of fuel.It noted that though the CPC can provide furnace oil and naphtha to the Ceylon Electricity Board at a cost that is less than what is incurred when importing fuel, an issue is likely to arise in importing new stocks of crude oil and refined petroleum products as the existing stocks are provided on credit, despite the CEB still not settling its dues. The Managing Director of the Ceylon Petroleum Corporation states that several rounds of discussions revealed that the Ceylon Electricity Board does not have the funds to procure the fuel.It notes that despite the difficulties experienced, as the supply of electricity is a national requirement, fuel worth Rs.

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Two-thirds of Scots parents have worse mental health because of cost of living

Almost two thirds of Scottish parents say they're suffering mentally because of the cost-of-living crisis. A new poll of parents and carers found that 64 per cent of those asked thought the rising prices of food, energy and bills had "negatively impacted" their mental health.

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Election Comm. asks CBSL for help after CEB and CPC highlight dollar shortage

COLOMBO (News 1st) – The National Election Commission in a letter to the Governor of the Central Bank of Sri Lanka has inquired over the possibility of making available the facilities required for the upcoming election.The letters inquired the Central Banks' position to provide US dollars for the Ceylon Petroleum Corporation and the Ceylon Electricity Board to supply electricity and fuel for the election.At the recent meeting with the National Election Commission, the CPC and the CEB had pointed out that they are short of US Dollars to ensure a continuous supply of electricity.They had requested the National Election Commission to inquire from the Central Bank of Sri Lanka on supporting them to avert a dollar crisis.

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China’s Exim Bank offers Sri Lanka debt moratorium – Reuters

(Reuters) – The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.India wrote to the IMF earlier this month, saying it would commit to supporting Sri Lanka with financing and debt relief, but the island nation also needs the backing of China in order to reach a final agreement with the global lender.China's Jan.

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Sri Lanka hopeful of completing debt restructuring in six months

(Reuters) – Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country's central bank chief P. Nandalal Weerasinghe said on Tuesday."There has been good progress this month with India already pledging financing assurances.

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FAO & Australia fund School Agriculture clubs to support nutritional security

Over 200 schools will receive funding from Australia via the Food and Agriculture Organization of the United Nations (FAO) to build entrepreneurial school gardens in the North, Central and Uva Provinces to support nutritional security among children.The entrepreneurial school gardens programme, implemented as part of a project funded by the Australian government totalling over USD 2.3 million, is aimed at improving the food and nutritional security of groups most affected by the ongoing economic crisis, particularly women and children.The programme features a discovery-based learning approach for over 100,000 secondary school students from grades 8 – 12, where they will be educated on the capacity to transform their school gardens into sources of nutritious produce that will facilitate diverse and healthy eating habits and encourage students to apply entrepreneurial thinking into agriculture. 505 school teachers from the three provinces were also trained on the discovery-based learning methodology as part of the programme to improve skills in food security, nutrition, agriculture and entrepreneurship.The Agriculture club in each school will be empowered to operate as a core programme partner that will oversee the coordination and navigation of the programme alongside school officials.

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India commits to help Sri Lanka on debt – IMF

(Reuters) – India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession – the worst such crisis since independence from Britain in 1948.Reuters reported last week that India had told the IMF it strongly supports Sri Lanka's debt restructuring plan as the island seeks a $2.9 billion loan from the global lender, according to a letter."Sri Lanka is engaged with other official bilateral creditors to obtain similar assurances," an IMF spokesperson said in a statement on Monday."As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, a Fund-supported program for Sri Lanka can be presented to the IMF's Executive Board for approval that would unlock much needed financing."Sri Lanka requires the backing of China and India – its biggest bilateral lenders – to reach a final agreement with the IMF that is essential to help the country emerge from its worst financial crisis in seven decades.

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GMOA threatens to go to WHO over medicine crisis; Minor staff at hospitals go on strike

COLOMBO (News 1st) – Sri Lankan professionals continue to oppose the governments' unjust tax regime and the failure to address the medicine shortage that is crippling the health sector by the day.The Government Medical Officers' Association decided to declare the period from today to the 27th as a black protest week against the conduct of the government, and this effort is supported by multiple other trade unions.At the same time, the GMOA warned that it would file an official complaint with the World Health Organization over the government's lethargic approach to solve the medicine shortage in the country.Minor staff across hospitals in Sri Lanka went on strike on Monday (23) against the governments' arbitrary tax regime, and the failure to address the medicine shortage.The minor staff attached to the Kalubowila Teaching Hospital supported the strike.They stepped away from their duties, and protested opposite the hospital premises demanding a solution to the issues.Similar scenes were witnessed at the Ragama Teaching Hospital, and the Kurunegala General Hospital.

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Jaishankar meets President, PM and Mahinda; discusses economic crisis

COLOMBO (News 1st) – India’s Minister of External Affairs Dr S. Jaishankar met with Sri Lankan President Ranil Wickremesinghe on Friday (20) morning where both sides had agreed to implement a joint program between Sri Lanka and India.President Ranil Wickremesinghe welcomed the Indian External Affairs Minister at the President's Office where the duo engaged in cordial discussions.Prior to the official meeting, President Wickremesinghe hosted the visiting Indian External Affairs Minister Dr Jaishankar for breakfast and tea at his official residence at Paget Road, Colombo.During the official meeting held between the President and Indian Foreign Minister Dr S.

Ranil Wickremesinghe S.Jaishankar Dinesh Gunawardena India Sri Lanka president Government crisis

Full implementation of 13A, early Provincial Council elections are critical – Jaishankar

COLOMBO (News 1st) – India's External Affairs Minister Dr. S. Jaishankar said that the full implementation of the 13th Amendment and early conduct of provincial elections are critical for political devolution.He was speaking in Colombo on Friday (20) alongside Foreign Minister Ali Sabry, and with President Ranil Wickremesinghe present at the President's Office."He President briefed me on the political devolution and his thinking.

Narendra Modi Ranil Wickremesinghe S.Jaishankar Ali Sabry Usa India Sri Lanka president crisis SOLIDARITY

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0