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US pleased with India’s support to Sri Lanka, says ready to help unlock IMF assistance

COLOMBO (News 1st) – US Ambassador to Sri Lanka Julie J.

Kristalina Georgieva Usa India Sri Lanka Government crisis Provident

India tells IMF it ‘strongly supports’ Sri Lanka’s debt restructuring plan

COLOMBO (News 1st) – India has told the International Monetary Fund that it confirms its strong support for Sri Lanka's prospective EFF-supported program.According to a letter seen by News 1st from Indian authorities to IMF Chief Kristalina Georgieva, India had noted it will commit to supporting Sri Lanka with financing/ debt relief consistent with restoring Sri Lanka's public debt sustainability under the IMF -supported program and ensuring that the program is fully financed as projected by IMF staff."In this context, we commit to continuing negotiations with the Sri Lankan government along with the Paris Club on a medium-to-long term debt treatment through maturity extension and interest rate reduction or any other financial operations that would deliver similar financing/ debt relief," noted the letter.According to this letter seen by News 1st, India says that the financing/ debt relief provided by Export-Import Bank of India will be consistent with restoring debt sustainability under the IMF-supported program."We look forward to continuing cordial and in-depth discussions with the Sri Lankan authorities, IMF and the Paris Club with a view to finalizing the specifics of this financingj debt relief in the coming weeks," the letter added. However, it had noted that the Sri Lankan authorities are expected to seek equitable debt treatments from all commercial creditors and other official bilateral creditors, as well as adequate financing contributions from the multilateral development banks. Sri Lanka requires the backing of China and India – its biggest bilateral lenders – to reach a final agreement with the IMF on the $2.9 billion loan that is essential to help the country emerge from its worst financial crisis in seven

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HC Moragoda meets India’s NSA Ajit Doval; discusses priority areas for cooperation

COLOMBO (News 1st) – Sri Lanka's High Commissioner to India Milinda Moragoda met with the National Security Advisor of India Shri Ajit Kumar Doval, on Monday (16).The High Commission said that duo discussed matters pertaining to India-Sri Lanka relations. The discussion focused on mutual strategic interests of the two countries and priority areas for cooperation, it added.The meeting took place as part of the regular and ongoing dialogue between the High Commissioner of Sri Lanka and the National Security Advisor of India, noted the High Commission.The meeting took place days ahead of the reported visit of Indian External Affairs Minister Dr. S.

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CEB in crisis; Tariff hike from 15th January

COLOMBO (News 1st) – The Ceylon Electricity Board announced that the electricity tariff will be increased with effect from the 15th of January, as per the decision reached by the Cabinet of Ministers.CEB General Manager Rohan Seneviratne told reporters that the Public Utilities Commission of Sri Lanka will be apprised of the data on the tariff hike within a month.As per the proposal that was approved by the Cabinet of Ministers, the fixed rates for domestic electricity units will also be increased from the 15th of January.For Units 0 to 30: Fixed Rate increased from Rs. 120/- to Rs.

Sri Lanka crisis reports

Top US Security Official meets President; discusses partnership

COLOMBO (News 1st) – Rear Admiral Eileen Laubacher, Senior Director for South Asia of the US National Security Council called on President Ranil Wickremesinghe on Wednesday (11), and the President's Media Division said the United States values Sri Lanka’s partnership and is keen to further strengthen ties between the two countries through a broad array of partnerships.During the meeting, the Rear Admiral expressed her government’s appreciation for the recovery efforts undertaken by President Wickremesinghe in regard to the economic crisis in the country, said the PMD in a statement.President Wickremesinghe had outlined the government’s economic plans including the economic reforms being undertaken.The President also discussed maritime matters, including the increased efforts by the Government to crack down on the narcotics trade.Laubacher also met Senior Advisor to the President on National Security and President’s Chief of Staff Sagala Ratnayaka following the meeting with the President.U.S.

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Change of Presidents didn’t lead to any improvement – HRW

The change of presidents of Sri Lanka in 2022 did not lead to any improvement in the country’s human rights record, Human Rights Watch said on Thursday (12) in its World Report 2023.During 2022, thousands of Sri Lankans took to the streets after years of misrule, impunity, and corruption undermined the rule of law and contributed to a severe economic crisis that threatened millions. President Gotabaya Rajapaksa, long implicated in grave rights violations, stepped down in July. However, the new president, Ranil Wickremesinghe, cracked down on largely peaceful protests, imprisoned activists, and disregarded calls for justice for past violations.“President Ranil Wickremesinghe responded to calls for reform and accountability with repression,” said Meenakshi Ganguly, South Asia director at Human Rights Watch.

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Economic Crisis: Court issues notice on Monetary Board members

COLOMBO (News 1st) – Notice was issued once again on Central Bank Monetary Board members Attorney Sanjeewa Jayawardena, and Rani Jayamaha, as they failed to appear in court.On Monday (9) the Fundamental Rights applications filed against 39 people for leading the country to an economic crisis were taken up, and the notice was re-issued to the CBSL Monetary Board members.The Former President, Former Prime Minister, and Former Finance Minister are among the 39 people named as the respondents in the petitions.The FR applications by Transparency International Sri Lanka, Former Ceylon Chamber of Commerce Chairman Chandra Jayaratne, Dr Mahim Mendis from the Open University of Sri Lanka, and Former National Swimming Champion Julian Bolling claim that the respondents named in the petition are directly responsible for the unsustainability of Sri Lanka’s foreign debt, its hard default on foreign loan repayments, and the current state of the economy of Sri Lanka.The applications were considered in the presence of Chief Justice Jayantha Jayasuriya, and Justices Buwaneka Aluvihare, Vijith Malalgoda, L. T.

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Experts say only debt cancellation offers Sri Lanka a chance of recovery

Some of the world’s most powerful hedge funds and other investors are holding up vital help for crisis-hit Sri Lanka by their hardline stance in debt-relief negotiations after the Asian country’s $51bn (£42bn) default last year, according to 182 economists and development experts from around the world.Instead of geopolitical manoeuvring, all of Sri Lanka’s creditors must ensure debt cancellation sufficient to provide a way out of the current crisis, said a statment from the economists and experts on Monday (9).In a statement the group that said that extensive debt cancellation was needed to give the economy a chance of recovery and that Sri Lanka would be a test case of the willingness of the international community to tackle a looming global debt crisis.The group – including the Indian economist Jayati Ghosh, Thomas Piketty, the author of the bestselling book Capital, and Greece’s former finance minister Yannis Varoufakis – said private sector creditors such as investment companies and hedge funds were preventing a deal.Private creditors own almost 40% of Sri Lanka’s external debt stock, mostly in the form of international sovereign bonds, although the higher interest rates levied on the bonds mean they receive more than 50% of external debt payments.Such lenders charged a premium to lend to Sri Lanka to cover their risks, which accrued them massive profits and contributed to Sri Lanka’s first ever default in April 2022, said the statement."Lenders who benefited from higher returns because of the “risk premium” must be willing to take the consequences of that risk. Indeed, ISBs are now trading at significantly lower prices in the secondary market.

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West Lothian towns 'need protection' from future risks after pandemic

A move to protect town centres across West Lothian from future uncertainties has been given unanimous backing by local councillors.

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NEWSLINE: Sri Lanka Crisis Soars: Education Deeply Affected

Colombo (News 1st) – NEWSLINE: Sri Lanka Crisis Soars: Education Deeply Affected. Watch on Facebook and Youtube.

Sri Lanka crisis

UNs Kanni Wignaraja meets President; Reiterates support to recover

The Assistant Secretary-General of the United Nations (UN), Kanni Wignaraja who is currently in Sri Lanka, appreciated the efforts taken by President Ranil Wickremesinghe and his Government in resolving the economic crisis in the country. Wignaraja reiterated the U.N’s financial and technical support for Sri Lanka during this recovery period.This was revealed at the meeting held between the President and the Delegation headed by Assistant Secretary-General of the UN at the Presidential Secretariat on Wednesday (4).The discussions focused on the economic reforms, with the delegation recognizing that these difficult decisions would have to be taken in order to ensure long-term recovery and growth in the country.The President also briefed the visiting delegation on the political reforms in the country, including the establishment of the Constitutional Council in Parliament and the ongoing discussions with the other political parties, regarding a resolution to the ethnic issues in Sri Lanka.

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Sri Lankan monks seek Dalai Lama’s visit, blessings to overcome economic crisis

New Delhi: A group of high-ranking Sri Lankan Buddhist Monks, who were on a pilgrimage to Bodh Gaya recently, is now seeking His Holiness Dalai Lama's visit to Sri Lanka, which is reeling under a severe economic crisis.They met the Buddhist spiritual leader the Dalai Lama in Bodh Gaya on December 27 and were overwhelmed by witnessing a large gathering at the holy city.Most Venerable Waskaduwe Mahindawansa Mahanayake Thero, Mahanayake Thero, Sri Sambuddha Sasanodaya Sangha Sabha told ANI in an interview, "His Holiness came to India and people should know why he came to India. Why he settled down in India? India helped His Holiness, and now because of His Holiness, we know thousands of tourists are in Bodh Gaya."He added, "These days, Bodh Gaya is very cold and people usually don't come, but people are there because of His Holiness.

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Over $240 Mn. US assistance given to SL in 2022 – Julie Chung

Colombo (News 1st) – United States Ambassador to Sri Lanka Julie Chung has recalled the multitude of ways the US and Sri Lanka have come together in 2022 to make a difference."In 2022 alone, the United States has announced more than $240 million in new assistance to Sri Lanka", Taking to Twitter, the Ambassador said."That new assistance supports basic food security and addresses the needs of the most vulnerable communities, including funding for school lunches, fertilizer for small holder farmers, and cash assistance for new and expectant mothers," she said."We are also supporting loans, training & assistance for SMEs in Sri Lanka, as they face the heaviest burden in times of crisis. This assistance is on top of our existing development partnership working with government, the private sector, civil society, and the people of Sri Lanka," she added."The relationship between the two countries, however, is much bigger than just about assistance.

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‘No Coal – No Power’ : Coal shipment delayed to early January 2023

COLOMBO (News 1st) – Multiple factions allege that motives to commit fraud are linked to the state's delay in procuring coal on time for the continuous operation of the Norochcholai Coal Power Plant, which is the main power plant in the entire country.A coal shipment is expected to reach Sri Lanka on the 5th of January 2023, and according to marine traffic data the bulk carrier with coal had left a port in Mozambique on Sunday (25) bound to Sri Lanka.What is the Coal Crisis & why is coal so important to us?The coal shipment bound to Sri Lanka from Mozambique will determine if the Norocohcholai Coal Power will continue to operate, as it generates a lions share of the electricity demand in the country.A shortage of coal will eventually lead to a complete shutdown of the power plant.The bulk carrier Darya Rama carrying a shipment of coal had left the Port of Maputo in Mozambique at 7:40 AM on Sunday (25), and it expected to lay anchor off the coast of Puttlam at around 4:00 PM on the 5th of January 2023.The vessel was originally scheduled to dock in Sri Lankan on Wednesday, however certain delays had pushed back its arrival date to somewhere between the 3rd and 5th of January 2023.The Chairman of Lanka Coal Company (Private) Limited on the 22nd of December 2022 said that when this shipment reaches Sri Lanka, the existing stocks of coal would have already been exhausted.How much of coal does the Norochcholai Coal Power Plant need to operate on any given day?The Norochcholai Power Plant has three generators, and each of these generators will require 2,500 MT of coal.

Sri Lanka Mozambique crisis

Will China Covid-19 crisis impact India? Variant analysis gives a clear picture

A significant surge in Covid-19 cases in China has sent shockwaves across the world. Even Indian authorities have sprung into action with the centre issuing advisory to states and Health Minister writing to Rahul Gandhi to stop his Bharat Jodo Yatra. Even though precautions are better than cure, should India press the panic button? Should we be prepared for a 2021 redux? Serum Institute of India Founder and CEO, Adar Poonawala who manufactured the widely used Covid vaccine Covishield assures, there is no need to panic.

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Sri Lanka’s GDP contracted by 11.8%

COLOMBO (News 1st) – The Gross Domestic Product for Sri Lanka for the third quarter of year 2022 at current price reported as Rs. 6,417,031 million.The Gross Domestic Product for Sri Lanka for the third quarter of year 2022 at constant price (2015) reported as Rs.

Sri Lanka crisis Department reports

IMF not expected to discuss Sri Lanka before year-end

(Reuters) – The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka's $2.9 billion bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said.Seeking a way out of its worst economic crisis in decades, Sri Lanka reached an IMF staff-level agreement in June with the deal subject to approval and contingent on Sri Lanka authorities following through with previously agreed measures.Sri Lanka said in September it expected the board to approve the deal by year-end. Progress has been slow in recent months, and Sri Lanka's finance minister acknowledged last month the request might extend into January.Sri Lanka has to secure prior financing assurances from creditors, put its heavy debt burden on a sustainable path and increase public revenue before the global lender will disburse the funds.

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West Lothian man fronts campaign aimed at getting veterans to open up about their mental health

A West Lothian man is fronting a new campaign from a national mental health programme to help more veterans open up about their mental health.

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Tea cultivators in crisis due to fertilizer shortage

COLOMBO (News 1st) – The shortage of fertilizer has severely affected tea-small holders in Sri Lanka.The tea-small holders in Akuressa, Matara said that the authorities have not shown any interest to address the issue, as the lives of many workers depend on this industry.They further say that they have to buy fertilizers at high prices and sell the leaves at low prices, leaving them at a loss.

Sri Lanka crisis

Economic support to Sri Lanka not based on communal approach: Jaishankar

(PTI) External Affairs Minister S Jaishankar on Wednesday (7) justified the Indian government’s support to Sri Lanka, saying India would be shirking its responsibility if it did not step forward to support a crisis-hit neighbour.The economic support that India offered to Sri Lanka during its worst post-independence economic crisis was for the entire country and not based on any communal approach, he said.Replying to clarifications sought by MPs on his suo motu statement on foreign policy in Rajya Sabha, the minister said India absenting from a vote against Sri Lanka in the UN Human Rights Commission was in accordance with the long-standing position — which was also followed by previous governments — that it “is the most constructive way of addressing, advancing the interest of Tamil community in Sri Lanka.” “That continues to be our approach,” he said.On the support to the island nation, he said, “We have given support to the entire Sri Lanka which also include the Tamil community.” “We have not taken the communal approach in giving support,” he said.

S.Jaishankar Rajya Sabha India Sri Lanka Government crisis

‘What is the plan for reform?’- President’s stance

COLOMBO (News 1st) – Sri Lankan President Ranil Wickremesinghe on Monday (5) said that Japan is the first choice when it comes to giving out the East Container Terminal at the Colombo Port."Why don't we develop and become a logistics centre? When I last tried to develop the Colombo Harbour and tried to give out the East Terminal, there was a big debate, as to I am trying to sell the country. Now we have given the West terminal out. Very good, but if you really want to get going, you have to give the East terminal out.

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Three in ten households consuming insufficient food – UN

COLOMBO (News 1st) – OCHA Regional Office for Asia and the Pacific (ROAP) says Sri Lanka continues to face a multidimensional crisis compounded by food insecurity, threatened livelihoods, shortages of vital and essential medicines, as well as rising protection concerns.A 40 percent reduction in agricultural outputs in the 2021/2022 Maha and 50 percent reduction during the 2022 Yala seasons have further exacerbated the situation.Forecasts for the 2022/2023 Maha season indicate a significantly reduced harvest as well, which, coupled with a food inflation of 85.6 percent in October, means that a significant part of the population is finding it difficult to meet basic needs.The food security situation continues to be problematic with around three in ten households consuming insufficient food, which includes eating fewer and less diverse diets.According to the World Bank, Sri Lanka currently has the 6th highest food price inflation in the world.

Sri Lanka crisis medicines

IMF’s Georgieva to press for quicker action on debt relief with China

(Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will travel to Beijing next week with heads of other international institutions to press for quicker action on debt relief for poor and developing countries.The meetings with the country's leadership will focus on China's economic, COVID-19 and debt relief policies and will include officials from China Development Bank and the Export-Import Bank of China, the IMF said."This is the first time, hopefully, we will be able to sit together and discuss the very pressing issues that China, and the world are faced with," Georgieva told the Reuters NEXT conference.Georgieva said that during the Beijing meetings she intends to discuss ways to accelerate China's participation in debt relief for poor and developing countries as the world's largest official bilateral creditor."I am very hopeful that when we have a chance next week to discuss these issues, we will continue on a path of finding better solutions and strengthening the capacity of the common framework to deliver," she said, referring to G20 countries' slow-to-launch common debt restructuring framework.World Bank President David Malpass told the conference that he would join the discussions in Beijing, along with officials from the World Trade Organization, Organization for Economic Cooperation and Development and others.Georgieva and Malpass have both called for reforms of the common framework to offer heavily indebted countries a freeze in debt service payments when they apply for debt relief and clearer timelines for reaching agreement on debt treatments.Asked if China's slowing growth would limit its appetite for agreeing to debt reductions, Georgieva said she hoped

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Changes necessary for debt restructuring – IMF Chief

COLOMBO (News 1st) – IMF chief Kristalina Georgieva told Reuters Next on Friday (2) that changes to the G20 Common Framework on debt restructuring were needed to speed up debt treatments, freeze debt service payments once a country requested help, and open the process to middle-income countries like Sri Lanka."We are concerned that there is a risk for confidence in debt resolution to be eroded at a time when the level of debt is very high," Georgieva said."We don't see at this point … a risk of a systemic debt crisis," she said, adding that countries in debt distress were not large enough to trigger a crisis that would threaten financial stability.Source: Reuters

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Electric motor boats for Sri Lankan fishermen

COLOMBO (News 1st) – Sri Lanka's Fisheries Minister Douglas Devananda said recently (29) that due to the fuel crisis, steps will be taken to introduce electric motor boats for fishermen from next year.The Minister mentioned this at the meeting of the Ministerial Consultative Committee on fisheries in Parliament.The minister pointed out that it is expected to introduce electric motor boats that can travel 100 kilometres using batteries and the cost is only 86 rupees per day to fishermen engaged in small-scale fishing.The Minister also mentioned that attention has also been paid to providing electricity generation facilities through solar panels and wind turbines for boats using kerosene and diesel.State Minister of Fisheries Piyal Nishantha, mentioned that a special mobile service is being implemented successfully by the ministry to solve the problems faced by the fishermen.

Sri Lanka crisis travelers Provident

"I am sorry" - Health Secretary Humza Yousaf apologies for ambulance and treatment waits for Scots

Health Secretary Humza Yousaf has told Scots “I am sorry” over long waits for treatment in our crisis-hit NHS.

Humza Yousaf Britain Scotland crisis NHS Health

Power Cuts: 2 hrs and 20 minutes today (1)

COLOMBO (News 1st) – The Public Utilities Commission of Sri Lanka says that there will be daily outages during the festive season starting today (1).The Chairman of the PUCSL Janaka Ratnayake says the power crisis is ongoing due to issues in generating hydropower and purchasing coal.He adds power cuts will have to be imposed until the issues are resolved.However, PUCSL approved power cuts of 2 hours and 20 minutes on 1st & 2nd December as follows;Groups ABCDEFGHIJKLPQRSTUVW: 1-hour during daytime 1-hour 20-minutes during the night

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MSP calls on Health Secretary to resolve Lanarkshire's GP crisis as constituents forced to fork out for private healthcare

Graham Simpson is calling on the Health Secretary to find an urgent solution to the GP crisis in Lanarkshire.

Humza Yousaf Graham Simpson Scotland county Simpson county Graham crisis Health

Child-friendly framework must fit 2022, not the 80s – UNICEF

COLOMBO (News 1st) – UNICEF says in order to prevent a child protection crisis in Sri Lanka, there needs to be a generation of data on the types of violence against girls and boys, the locations, the perpetrators and the accessibility of services. This will help improve the planning and implementation of programmes to prevent and respond to child protection issues.It added that a child-friendly legal framework, that is fit for Sri Lankan children in 2022, rather than laws drafted 80 years ago during the colonial period that far pre-date the ratification of the Convention on the Rights of the Child, is necessary.The principles of best interests and participation need to be brought into new legislation that provides the possibility for prevention, including family strengthening and ensures that all forms of institutionalization and detention of children are the last resort and for the shortest possible time.UNICEF also said that a strong social service and justice workforce – who work together – to better protect children in Sri Lanka, needs to be forced and to this end, the government should prioritize the development and planning of a professional social service and justice workforce. It also needs to invest in training and supervision of the workforce, as well as clear definitions of roles and responsibilities.The Ministries and their Departments, the Police and the Judiciary should establish regular coordination mechanisms to provide appropriate services adapted to meet the needs of girls, boys and women. Finally, as negotiations move ahead with the re-structuring of the economy and public finance, it is critical that the child welfare and justice services are preserved, allocated minimum financial resources and

Sri Lanka crisis prevention reports

Dad launches new Dumbarton mens' mental health group to meet growing need for support

A Bonhill taxi driver has launched a new mens’ mental health group to meet a growing need for support and help those stuggling with the emotional turmoil of the cost-of-living crisis.

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Malaysian opposition leader Anwar appointed Prime Minister

(Reuters) – Malaysia's king appointed long-time opposition leader Anwar Ibrahim as prime minister on Thursday and he will be sworn in at 5 p.m., ending five days of unprecedented post-election crisis after inconclusive polls.Anwar's appointment caps a three-decade-long political journey from a protege of veteran leader Mahathir Mohamad to a prisoner convicted of sodomy to opposition leader and, finally, prime minister.A general election on Saturday ended in an unprecedented hung parliament with neither of the two main alliances, one led by Anwar and the other by ex-premier Muhyiddin Yassin, immediately able to secure enough seats in parliament to form a government.The 75-year-old Anwar has time and again been denied the premiership despite getting within striking distance over the years: he was deputy prime minister in the 1990s and the official prime minister-in-waiting in 2018.In between, he spent nearly a decade in jail for sodomy and corruption in what he says were politically motivated charges aimed at ending his career.The uncertainty over the election threatened to prolong political instability in the Southeast Asian country, which has had three prime ministers in as many years, and risks delaying policy decisions needed to foster economic recovery.Anwar leads a multi-ethnic coalition of parties with progressive leanings while Muhyiddin's alliance reflects more conservative, ethnic Malay, Muslim views.Anwar's coalition, known as Pakatan Harapan, won the most seats in Saturday's vote with 82, while Muhyiddin's Perikatan Nasional bloc won 73.

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Sri Lanka’s crisis may worsen with no action from foreign creditors – HRW

COLOMBO (News 1st) – Human Rights Watch quoting economists says that the economic situation in Sri Lanka could deteriorate rapidly without action by foreign creditors, placing the basic needs of millions of people in further jeopardy.To stabilize the economy, international creditors should agree to restructure Sri Lanka’s debt so the country can secure final approval for an International Monetary Fund (IMF) loan and financing from other global agencies, it added.In April, Sri Lanka defaulted on over US$50 billion in debts to international creditors. In September, it reached a staff-level agreement with the IMF for a four-year, $2.9 billion bailout.

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Sri Lanka at high risk of a currency crisis, warns top Japanese bank

COLOMBO (News 1st) – Sri Lanka is among the seven countries with a high risk of a currency crisis, warned Nomura Holdings, Japan’s top brokerage and investment bank.The other countries are Egypt, Romania, Turkey, the Czech Republic, Pakistan, and Hungary.According to Reuters, the Japanese bank said that 22 of the 32 countries covered by its in-house "Damocles" warning system have seen their risk rise since its last update since May, with the largest increases in the Czech Republic and Brazil.It meant the sum of the scores generated on all 32 by the model had increased sharply to 2,234 from 1,744 since May."This is the highest total score since July 1999 and not too far from the peak of 2,692 during the height of the Asian crisis," Nomura economists said, calling it "an ominous warning sign of the growing broad-based risk in EM currencies".The model crunches 8 key indicators on a country's FX reserves, exchange rate, financial health and interest rates to give an overall score.Based on data from 61 different EM currency crises since 1996, Nomura estimates that a score above 100 indicates a 64% chance of a currency crisis in the following 12 months.Egypt, which has already devalued its currency heavily twice this year and sought an International Monetary Fund (IMF) programme, now generates the worst score at 165.Romania is next on 145 having been propping up its currency with interventions.

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Gota simply let things happen – Cabraal

COLOMBO (News 1st) – Sri Lanka's Former Central Bank Governor Ajith Nivard Cabraal said that Former President Gotabaya Rajapaksa simply let things happen during his tenure as the Head of State.Speaking to News 1st's 10 Questions program the Former Head of the Central Bank said he too believed that the Former President should have conducted himself differently, and that could have changed the fate of the country."An unexpected person is now the President.

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Billy Dodds blasts 'embarrassing' SPFL over Inverness loan recall rejection that's risking players' health

Billy Dodds has branded the SPFL's refusal to allow his side to recall on-loan players "embarrassing" after the Inverness Caledonian Thistle boss was forced to field players who shouldn't have played as he continues to deal with a lengthy injury list in the Highlands.

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Strict legal action against anyone linked to human trafficking – PM

Colombo (News 1st): The law will be strictly enforced against anyone who has trafficked Sri Lankan women to countries such as Oman, Prime Minister Dinesh Gunawardena told Parliament on Saturday (Nov. 19)."With the special attention of the President, a team was sent to take necessary legal action pertaining to such complaints from countries such as Oman, for one-and-a-half-months.

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Sri Lanka hopes for IMF deal in December

(Reuters) – Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The island nation formally kicked off the talks in September after securing a preliminary $2.9 billion bailout with the International Monetary Fund, a step on a path out of the country's worst financial crisis in a decade.But it needs to secure financing assurances from key creditors including China, Japan and India before the funds can be disbursed."There are different concerns that different creditors want cleared so it was decided that these clarifications would be communicated first and then new dates would be set for another round of talks," state minister Shehan Semasinghe Semasinghe told Reuters on Thursday."The dates are yet to be decided."Semasinghe did not provide details on the creditors' concerns or what exactly was being discussed between them and Sri Lanka's central bank and treasury officials.Sri Lanka had earlier set a target of getting board level IMF approval in December for the planned four-year programme."We are focusing on financing assurances. As of now no bilateral creditor has informed us that they are not going to support us," Semasinghe added."We have a target and we are pushing hard to meet it in December."Sri Lankan officials have also had talks with representatives from China EXIM Bank and China Development Bank which together hold about $4.3 billion in loans given to fund large infrastructure projects over the last 20 years.

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Scots woman left with almost 30 cats after vets closed down during pandemic

A Scottish woman ended up with 28 cats after being unable to get her pets neutered during the coronavirus pandemic.

Scotland pandemic crisis Coronavirus

SOE reforms necessary to overcome the crisis – CBSL Chief

COLOMBO (News 1st) – Sri Lanka's Central Bank Governor stressed that State-Owned Enterprises need to be reformed so that they are not a burden on the economy."For us to come of the crisis we have to address the root causes of the imbalances. This is where the government will have to collect more revenue, curtail expenditure, and maintain a sustainable level of sovereign debt.

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UK MPs want conditions on aid given to Sri Lanka

COLOMBO (News 1st) – A Backbench Business Committee debate on the UK response to the human rights and economic situation in Sri Lanka took place on Wednesday (9) in the House of Commons chamber.UK MPs called for Sri Lanka to cut down on its military spending to overcome the economic crisis.UK MP Elliot Colburn noted that for Sri Lanka to be rescued, it needs to reduce its military spending, which stands at $1.86 billion per annum. "All of Sri Lanka’s projections for emerging out of the economic crisis are predicated on the country retaining its generalised scheme of preferences and trade concession. That annual trade concession is worth more than $500 million and has boosted Sri Lanka’s exports to EU member states over the years," said the MP adding that however, Sri Lanka has failed to meet the key labour and human rights requirements for receiving that preferential treatment, and the EU recently issued a warning that it is set to lose its concession if it continues to ignore its obligations. "As a key stakeholder at the IMF, the UK Government should propose conditions on any IMF financial assistance for Sri Lanka during the current economic crisis, including that Sri Lanka should carry out a strategic defence and security review to reduce its military spending, remove the military from engaging in commercial activities, meet the criteria for GSP+, and re-engage with the UNHRC process.

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Weerasekera blames Gotabaya’s failed policies for crisis

COLOMBO (News 1st) – Former Minister of Public Security, Rear Admiral (Retd.) Sarath Weerasekara on Wednesday (9) criticized the decisions taken by the Gotabaya Rajapaksa government.Weerasekera was a minister under then-President Gotabaya Rajapaksa, and he told Parliament that despite explaining to the former President the need to involve the people to overcome the economic crisis, those pleas fell on deaf ears."I questioned the cabinet if our foreign policy was neutral, why can't we purchase oil from Russia? I was told that it cannot be done cause of American pressure," said the MP from the Sri Lanka Podujana Peramuna.He said a failed foreign policy angered China, Russia, and even Japan and Gotabaya Rajapaksa had to flee the country because he did not implement Sri Lanka's foreign policy properly."He did not accept the advice on the economy. He worked against all economic principles.

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Seven million Sri Lankans need assistance – UN report

COLOMBO (News 1st) – The United Nations Office for the Coordination of Humanitarian Affairs revealed that around 7 million Sri Lankans require assistance following the economic crisis.It went on to note that Sri Lanka continues to face a multidimensional crisis compounded by food insecurity, threatened livelihoods, shortages of vital medicines, as well as rising protection concerns. The economic crisis is the worst since Sri Lanka’s independence in 1948 and is having humanitarian consequences for the most vulnerable people in the country. A 40 per cent reduction in agricultural outputs in the 2021/2022 Maha and a 5per cent reduction during the 2022 Yala seasons have further exacerbated the situation.

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Fishermen want increase in fuel quota

COLOMBO (News 1st) – Fishermen are demanding the authorities increase their fuel quota along with an increase in the fuel quota for three-wheelers.Fishermen point out that the kerosene given to them is insufficient to engage in fishing activities.Over one hundred fishing boats and small vessels are engaged in fishing activities centred on the Tangalle Oruvella fishing pier.Over 500 families depend on this, and due to the current fuel crisis fishermen are facing server difficulties in heading out to sea.

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Singapore rescues 300 suspected migrants from sinking boat

(COLOMBO, Sri Lanka) – Sri Lanka’s navy said Monday that about 300 suspected migrants have been rescued by Singapore authorities after their boat started sinking.Navy spokesperson Indika de Silva said a Sri Lankan citizen on the boat contacted the navy Monday and said they were in distress, and the Maritime Rescue Coordination Center in Colombo sought help from Singapore, Vietnam and the Philippines.Singapore authorities later notified Sri Lanka that the people on board the boat had been rescued and were heading to Vietnam.De Silva said the navy is only officially aware of the presence of one Sri Lankan on board the vessel, and the identities of the others will be ascertained after they land in Vietnam.Sri Lankans in the past sometimes undertook hazardous and illegal boat journeys to escape a long civil war.

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Is Sri Lanka on track to access funds from the IMF?

Sri Lanka, which is under an ongoing economic crisis, is headed for another major turbulence as the country will not be able to secure the much-needed IMF loan in December as its ally and debtor China is yet to initiate a dialogue on debt restructuring with Colombo.A report in the Hindustan Times quoting financial analysts based in Washington said that Sri Lanka will miss the IMF deadline and will have to wait till March next year to secure a loan of $2.9 billion, as Beijing was involved in the 20th National Party Congress.The next meeting of the IMF executive board is in March 2023, Sri Lanka will most likely have to wait until then for IMF Board approval, and access to the funds.Why is China's involvement so important to access IMF funds?Sri Lanka is now considered a country that defaulted on its external debt because the island nation lacked foreign reserves for debt servicing.According to the Central Bank of Sri Lanka and the Finance Ministry, Sri Lanka's total debt was $36 billion at the end of 2021.Of this total debt, Colombo owes some 52% in bilateral credit to China, 19.5% to Japan, and 12% to India.One of the main conditions for Sri Lanka to tap the USD 2.9 Billion funding from the International Monetary Fund is debt reconciliation and restructuring.Bilateral means transactions between two countries, and there is an institution that operates with the support of the International Monetary Fund to talk about bilateral debt, and this is called the Paris Club.Sri Lanka has obtained a large number of loans from Japan, India, and China, and among them, only Japan is a member of the Paris Club.India is openly supporting Sri Lanka's engagement with the IMF, and avenues are open for Sri Lanka to discuss debt

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Bangladesh issues precautionary measure against Sri Lanka, SL trade at risk

COLOMBO (News 1st) – The Central Bank of Bangladesh last week issued a circular advising all authorized dealers, including banks, to refrain from transactions with Sri Lankan banks through the Asian Clearing Union (ACU) system.The move has been made in response to the "self-motivated decision by the Central Bank of Sri Lanka (CBSL) to remain temporarily suspended from ACU mechanism with effect from October 14th".Accordingly, all authorized dealers have been advised not to do any trade and trade related transactions with Sri Lanka through the ACU mechanism.The Asian Clearing Union was created among the South Asian Nations in order to provide trading facilities among the South Asian Nations, plus Iran and Myanmar as members in 1974. Within the ACU, all eligible transactions between member countries are required to be settled through the Asian Clearing Union. The unit of settlement of ACU transactions is a common unit of account of ACU, which is equivalent to one USD.In case of importation of materials into a country, it would be debited to the account of that specific country at the Asian Secretariat, and the balance is settled every two months through the ACU in hard currency.With this new move, it would halt the possibility of conducting any transactions between Bangladesh and Sri Lanka through the ACU. However, when New1st inquired on the matter from former Deputy Governor of the Central Bank of Sri Lanka Dr.

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Sri Lanka promotes cycling to work for state sector

COLOMBO (News 1st) – Sri Lanka on Monday (31) introduced a cycle to work program to promote cycling among public sector employees as a solution to the transporation crisis.The Cycle to Work progrma to promote cycling among public sector employees was organized by the Ministry of Urban Development and Housing.The aim of this program is to encourage government employees to commute using bicycles as a solution to the transportation crisis. Kick starting the initiative, a group of public sector employees cycled from Battaramulla to Sethsiripaya on Monday (31) morning.Meanwhile, a tree planting program was organized at te Setshiripaya Premises in line with World Cities Day.

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Scots risk food poisoning due to cost of living hack as health warning issued

Health experts have issued an urgent warning about food poisoning as a "worrying" number of Scots are eating food that has gone off.

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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