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

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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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Julie Chung - Free TSP fertilizer for North & East farmers; Distribution for other areas to commence soon - newsfirst.lk - Usa - Sri Lanka
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Free TSP fertilizer for North & East farmers; Distribution for other areas to commence soon
COLOMBO (News 1st);Sri Lanka's Agriculture Ministry said that 1.2 million local farmers will be given Triple Super Phosphate or TSP Fertilizer free of charge from Monday (20), after three harvesting seasons.The shipment of 36,000 metric tons  Triple Super Phosphate (TSP) was funded by the United States Agency for International Development (USAID) and procured by the Food and Agriculture Organization of the United Nations (FAO) for distribution free-of-charge to farmers.Accordingly, 11,537 MT of TSP fertilizer will be issued to farmers in the Northern, and Eastern Provinces.TSP Fertilizer will be issued via all Agrarian Services Centers in the country.The Ministry of Agriculture said that TSP Fertilizer will be issued to other areas to commence harvesting.According to the ministry, 55 kg of fertilizer is recommended for one hectare of paddy cultivation.More than a million Sri Lankan paddy farmers in all 25 districts will get vital assistance through a shipment of over 36,000 metric tons of fertilizer handed over by the United States to the Ministry of Agriculture. This second shipment of USAID-supported fertilizer is delivered on a promise USAID Administrator Samantha Power made last September in response to Sri Lanka’s food security challenges. It brings the total of USAID-supported TSP and urea fertilizer to more than 45,000MT over the last year.U.S.
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