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US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical

COLOMBO (News 1st); The United States of America has welcomed the approval of Sri Lanka’s IMF package."Great news & an important step on the road toward economic recovery," tweeted US Ambassador to Sri Lanka Julie Chung on Monday (20).She said that the Sri Lankan government will need to continue reforms and conclude debt restructuring agreements to ensure the program – and the economy – stay on track.She noted that structural & lasting reforms that address good governance & transparency are critical to ensure all citizens of Sri Lanka can prosper.IMF Managing Director Kristalina Georgieva also noted that she was very pleased the Executive Board of the IMF had approved about $3 bn of IMF support for Sri Lanka’s economic policies & reforms. She said that it was an important milestone with International Creditors coming together to help to restore debt sustainability. "Crucial to unlock Sri Lanka's growth potential," she added.The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.

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Kristalina Georgieva - Julie Chung - US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical - newsfirst.lk - Usa - Sri Lanka - county Will
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US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical
COLOMBO (News 1st); The United States of America has welcomed the approval of Sri Lanka’s IMF package."Great news & an important step on the road toward economic recovery," tweeted US Ambassador to Sri Lanka Julie Chung on Monday (20).She said that the Sri Lankan government will need to continue reforms and conclude debt restructuring agreements to ensure the program – and the economy – stay on track.She noted that structural & lasting reforms that address good governance & transparency are critical to ensure all citizens of Sri Lanka can prosper.IMF Managing Director Kristalina Georgieva also noted that she was very pleased the Executive Board of the IMF had approved about $3 bn of IMF support for Sri Lanka’s economic policies & reforms. She said that it was an important milestone with International Creditors coming together to help to restore debt sustainability. "Crucial to unlock Sri Lanka's growth potential," she added.The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.
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
Xi Jinping - Kim Jong Un - Iran, Saudi Arabia to resume diplomatic relations with China's help - fox29.com - China - Iran - city Beijing - Usa - Saudi Arabia - North Korea - Yemen - county Gulf
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Iran, Saudi Arabia to resume diplomatic relations with China's help
China lowers the chance of armed conflict between the Mideast rivals — both directly and in proxy conflicts around the region.The deal, struck in Beijing this week amid its ceremonial National People’s Congress, represents a major diplomatic victory for the Chinese as Gulf Arab states perceive the United States slowly withdrawing from the wider Middle East. It also comes as diplomats have been trying to end a long war in Yemen, a conflict in which both Iran and Saudi Arabia are deeply entrenched.The two countries released a joint communique on the deal with China, which brokered the agreement as President Xi Jinping was awarded a third five-year term as leader earlier Friday.Xi, whose administration in recent days has relaunched a campaign to challenge the U.S.-led Western liberal order with warnings of "conflict and confrontation," was credited in a trilateral statement with facilitating the talks through a "noble initiative" and having personally agreed to sponsor the negotiations that lasted from Monday through Friday.READ MORE: Sister of Kim Jong Un warns North Korea ready to act against US, SouthVideos showed Ali Shamkhani, the secretary of Iran’s Supreme National Security Council, meeting with Saudi national security adviser Musaad bin Mohammed al-Aiban and Wang Yi, China's most senior diplomat.The statement calls for reestablishing ties and reopening embassies to happen "within a maximum period of two months." A meeting by their foreign ministers is also planned.In the video, Wang could be heard offering "wholehearted congratulations" on the two countries' "wisdom.""Both sides have displayed sincerity," he said.
Iran rattled over suspected poisoning of hundreds of schoolgirls - fox29.com - Iran - Afghanistan - city Tehran - Uae - city Dubai, Uae
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Iran rattled over suspected poisoning of hundreds of schoolgirls
TOPSHOT - Iranian high school students sit for their university entrance examination in Tehran on June 25, 2009. Iran has jailed more than 140 political activists, journalists and university lecturers since the disputed election which returned Presid DUBAI, United Arab Emirates (AP) - Over the past three months, hundreds of young girls attending different schools in Iran have become overpowered by what are believed to be noxious fumes wafting into their classrooms, with some ending up weakened on hospital beds.Officials in Iran's theocracy initially dismissed these incidents, but now describe them as intentional attacks involving some 30 schools identified in local media reports, with some speculating they could be aimed at trying to close schools for girls in this country of over 80 million people.The reported attacks come at a sensitive time for Iran, which already has faced months of protests after the September death of Mahsa Amini following her arrest by the country's morality police.RELATED: Feds say Iranian-backed gang behind Brooklyn assassination attemptThe authorities have not named suspects, but the attacks have raised fears that other girls could be poisoned apparently just for seeking an education — something that's never been challenged before in the over 40 years since the 1979 Islamic Revolution.
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