Sri Lanka

External Affairs Minister of India, S.

Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt.

The two-day visit is expected to see some announcements.“India is expected to give a positive response to Sri Lanka’s requirements, in keeping with India’s support last year as well,” said a source, citing India’s combined package of about $4 billion including loans, credit lines for the purchase of essentials and a loan deferment through the Asian Clearing Union.In addition, talks are expected on two possible MoUs— on the Trincomalee development project and the long-pending plan for a cross-strait transmission line that would allow Sri Lanka access to India’s plans for an energy grid along with other countries like Nepal, Bhutan and Bangladesh.The sources stressed that while assisting Sri Lanka with its current economic difficulties is a priority, Mr.

Jaishankar’s visit, his first with the six-month-old government in Colombo, would see a comprehensive review of bilateral ties.Meanwhile, diplomatic sources said that the support, in the form of “written financial assurances” from India would be critical for Sri Lanka as it works with its other creditors to resolve the economic crisis.Announcing the visit by EAM Jaishankar, Sri Lankan President Ranil Wickremesinghe said that he had discussed the need for the debt restructuring programme with all Sri Lanka’s creditors, including the 22-nation ‘Paris Club’ of 22 developed nations that hold much of the global debt and discuss solutions to debt crisis together.“Japan and the Paris Club, two of our major creditors, have expressed their willingness to assist.

We have already begun talks with India and China.

According to the discussions with China Exim Bank recently, we’re currently debating on how to restructure our debt.

The Chinese side has agreed to move quickly,” Mr.

Wickremesinghe told a group of businessmen last week.He said that Sri Lanka’s “only” option was to seek the support of the International Monetary Fund (IMF) for nearly three billion dollar bailout, and was also hopeful of a package from the Asian Development Bank (ADB).“We discussed with China’s EXIM Bank this week and by now we have commenced exchanging views on it.

India’s Foreign Minister is scheduled to visit Sri Lanka on the 19th to discuss the debt restructuring process.

We are proceeding with these activities gradually,” the Sri Lankan President said to a separate group of trade union representatives, indicating the visit by Japanese State Minister of the Cabinet Office Satoshi Fujimaru and the ongoing visit of Chen Zhou, Vice Minister of the International Department, the Communist Party of China Central Committee.After Mr.

Chen’s meeting with President Wickremesinghe, the Chinese Embassy in Sri Lanka said the talks were “friendly and fruitful”, and quoted Mr.

Wickremesinghe as saying that he “looked forward to China’s support in restructuring Sri Lanka’s debt at the moment and our economy in the near future”.Sri Lanka had hoped to finalise its IMF bailout package, but missed a December deadline due to the delay in concluding debt restructure talks.

It now hopes to complete the talks in the first quarter of 2023.Source - The Hindu -Agencies





Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021


Buy Our Merchandise (Peace Series)

 


Contribute US to Start Broadcasting



It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm


STRIPE


[Sri Lanka] - Sri Lanka, China sign 9 agreements on cooperation


Police open fire at group of robbers; one person dead


[Sri Lanka] - New liver care center of Ragama Teaching Hospital inaugurated


Sri Lanka anticipating private equity deals amounting to $250mn


Indian HC organizes conference to explore potential of digital public infrastructure for Sri Lanka


School education will be revamped by minimizing problem of assessments - President


[Sri Lanka] - Chinese premier holds talks with Sri Lankan PM; explore cooperation in tidy energy and telecom


Heat advisory provided for numerous provinces, districts


[Sri Lanka] - ACC reveals Women s Asia Cup 2024 in Sri Lanka


[Sri Lanka] - Sri Lanka to promote registration of ships under its flag


Court dismisses initial objections raised in Keheliya s misappropriation case


Five-member SC bench to hear petitions challenging Online Safety Act


Major US bridge collapses after being hit by Colombo-bound ship


[Sri Lanka] - CBSL guv discusses why Parate Law suspension bad for credit supply


[Sri Lanka] - Unique security plans for Good Friday and Easter Sunday


National minimum month-to-month wage to be increased by Rs. 5,000


Investigation ordered into assassination attempt on Magistrate Thilina Gamage


Veteran singer Chandra Kumara Kandanarachchi passes away


T-56 firearm reported missing from Wilgamuwa police station


Govt. to provide 10kg of rice to low-income families before Avurudu


Sri Lanka Central Bank further reduces policy rates


UN Security Council demands immediate ceasefire in Gaza after US abstains


Heavy showers anticipated in parts of the island


Sri Lanka s Chief of Defence Staff visits Kenya s Defence HQ


COPA instructs officials to instantly report importation of 102 spoiled fish containers to CID


Govt prioritizing overhaul of school education and exam systems - President


Buddha Sasana Ministry problems declaration over New Year auspicious times


Three injured in luxury bus accident on Kandy-Mahiyanganaya road


Heavy showers above 100mm expected in several areas tomorrow


Ex-President Maithripala leaves CID after tape-recording statement


Appeals Court quashes findings, suggestions of political victimisation commission


HC to deliver order on Keheliya s revision petition seeking bail


UN chief says there is growing consensus to tell Israel that a ceasefire is needed


Nine students hospitalized after clash at private education institute


5 including two students arrested for taking laptop computers from school s wise class


Cost of a cup of milk tea decreased


Sri Lankan PM arrives in China for official visit


Excise revenue up by 38.5% in February 2024


President reveals rapid development plans for overlooked Mahaweli A and B zones


Bandula s US tour cut short for no-confidence vote against Speaker


IMF representatives meet with Sajith Premadasa


Third day of argument on no-confidence motion against Speaker starts


[Sri Lanka] - Sri Lanka to begin speak with restructure bonds next week - report


15 consisting of schoolchildren injured in bus accident in Wellawaya


[Sri Lanka] - 19 suspects straight connected to the underworld arrested so far - Police


Underworld gunman injured in shootout with STF succumbs to injuries


A modification in dominating dry climate condition expected from today


Underworld gunman and STF member injured in shootout at Ganemulla


[Sri Lanka] - COPE assembles under Rohitha s chairmanship amidst string of member resignations


[Sri Lanka] - President Ranil reveals vision for rapid transformation into export economy


Intermittent fasting linked to high risk of cardiovascular death, study reveals


BIA records sharp increase, serving 850,000 travellers this year AASL Chairman


Vietnam s president resigns after just over a year in office


[Sri Lanka] - Update on Sri Lankans in Haiti amidst escalation of violence


33 including FSP s Duminda Nagamuwa and Lahiru Weerasekara arrested during protest


COPF recommends deferment of CBSL salary increase


Tear gas and water cannons fired at protesters in Pettah





68