Page 15 - Sri Lanka

EAM Jaishankar likely to visit Sri Lanka next week, say officials

External Affairs Minister S Jaishankar is set to visit Sri Lanka on June 20, Foreign Ministry sources said here on Saturday. Sri Lanka was anticipating a visit by Jaishankar and Indian Prime Minister Narendra Modi too was expected to visit the island nation at a later date, Foreign Minister Ali Sabry told reporters on Friday. Sabry said the visits were a sequel to President Ranil Wickremesinghe's visit to New Delhi last week to attend Modi's swearing-in ceremony after he won the third term. However, there was no official announcement on Jaishankar's visit from India's Ministry of External Affairs. If confirmed, this could be Jaishankar's first official stand-alone visit abroad after he was appointed India's External Affairs Minister in the new government. The last time that Jaishankar was in Colombo was in October 2023 to participate in the 23rd Council of Ministers' meeting and the 25th Committee of Senior Officials of the Indian Ocean Rim Association (IORA). News portal Adadera

Penna Cement acquisition: Adani spells out Lanka, South India strategy

Company sets target to achieve 140 MTPA capacity by 2028, aided by greenfield expansions

Sri Lanka economic recovery hinges on sustaining ongoing reforms: IMF

The key to Sri Lanka's transition from stabilisation to full economic recovery is sustaining the ongoing reform momentum, the IMF said on Friday after it decided to release the third tranche of USD 336 million from the USD 2.9 billion four year bailout package to the island nation. While releasing the third tranche, the IMF on Thursday noted that Sri Lanka's economy has started recovering, inflation remained low, revenue collection was improving, and reserves continued to accumulate but warned that despite these positive developments, the economy is still vulnerable and the path to debt sustainability remains knife-edged. We encourage the (Sri Lankan) authorities to continue to build on these hard-won gains and remain steadfast with their reform commitments, Peter Breuer, the head of the Sri Lanka IMF mission, told reporters here on Friday. In April 2022, Sri Lanka declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial

Sri Lanka President recalls crisis help from SAARC nations including India

Sri Lankan President Ranil Wickremesinghe on Thursday recalled the assistance received from India and Bangladesh during the early days of the worst economic crisis and said the island nation would not have been able to recover from the turmoil had these countries not helped. Expressing gratitude to the government and Reserve Bank of India, as well as the government and Central Bank of Bangladesh, for their financial support, which he described as lifesaving, the president in his keynote address at the inaugural session of the 45th SAARCFINANCE Governors' Meeting and Symposium here said the assistance, along with aid from the United States Agency For International Development (USAID) and the World Bank, was pivotal in stabilising the country's economy. I must thank the government and the Reserve Bank of India and the government and the Central Bank of Bangladesh. That USD three and a half billion and that USD 200 million were lifesavers. Without that, we wouldn't be here today; there

IMF extends $336 mn to Lanka amid 'knife-edged' path to debt sustainability

The International Monetary Fund in March this year approved a 48-month, $2.9 billion extended arrangement under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms

Look forward to India, Maldives working together closely: Jaishankar

Union Minister S Jaishankar on Monday held separate bilateral meetings with Maldives President Mohamed Muizzu, Bangladesh Prime Minister Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe. Muizzu, Hasina and Wickremesinghe were among seven leaders from India's neighbourhood and the Indian Ocean region to attend the swearing-in ceremony of Prime Minister Narendra Modi and the Union Council of Ministers on Sunday. "Delighted to call on President Dr Mohamed Muizzu of Maldives today in New Delhi. Look forward to India and Maldives working together closely," Jaishankar said on 'X'. Jaishankar was the external affairs minister in Modi's previous Cabinet. He took oath as a Union minister on Sunday. It was Muizzu's first visit to India after he became the island nation's president on November 17 last year. The ties between India and the Maldives came under severe strain since Muizzu, known for his pro-China leanings, took charge of the top office. Within hours of his oath, he ha

Sri Lanka has made 'strong progress' on debt restructuring front, says IMF

Sri Lanka's macroeconomic policy reforms have started to "bear fruit" and the country is expected to reach agreements with external commercial creditors soon, the IMF has said ahead of the second review of it's USD 2.9 billion bailout programme to the cash-strapped country. Addressing a press conference on Friday, International Monetary Fund (IMF) Communication Department Director Julie Kozack asserted that Sri Lanka has made "sufficiently strong progress on the debt restructuring front". She said that the island nation's programme performance is "strong", with most quantitative and structural conditionality for the second review met or implemented with delay, adding that reforms are still ongoing in some areas. The second review of the IMF's Extended Fund Facility under the USD 2.9 billion bailout of Sri Lanka has been set for June 12. Kozack confirmed that the IMF's Executive Board will meet to discuss the second review and the Article IV Consultation. Under Article IV of the IM

Adani Group plans to invest over $1 billion in Sri Lankan wind projects

Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka to generate electricity from wind in what would be the island nation's single largest foreign direct investment and the biggest ever power project, sources said. Group firm Adani Green Energy Ltd (AGEL) will set up two wind farms in Sri Lanka's Mannar town and Pooneryn village in the northern provide with a total installed capacity of 484 megawatt at an investment of about USD 740 million. The related infrastructure that would transmit electricity to consumption centres will see further investment of over USD 290 million, two sources with knowledge of the matter said. The projects will not just be Sri Lanka's largest renewable energy project but also the nation's biggest power project to date. Last month, Sri Lanka had entered into an agreement to buy electricity from Adani's wind power stations for 20 years. AGEL will be paid 8.26 cents per kilowatt-hours (kWh) as per the agreement. This is lower t

Modi's swearing-in: Top leaders of neighbouring countries to be invited

India is likely to invite leaders of a number of its neighbouring countries, including Sri Lanka and Bangladesh, to the swearing-in ceremony of Prime Minister Narendra Modi over the weekend, people familiar with the matter said on Wednesday. Modi is all set to take charge as the prime minister for a historic third consecutive term with the Bharatiya Janata Party-led National Democratic Alliance (NDA) winning 293 seats in the Lok Sabha polls. The people cited above said top leaders of Bangladesh, Sri Lanka, Bhutan, Nepal and Mauritius are likely to be among the foreign leaders to be invited for Modi's oath-taking ceremony. The media division of Sri Lankan President Ranil Wickremesinghe's office said Modi invited him to the swearing-in ceremony. It said Wickremesinghe accepted the invite. It said Wickremesinghe congratulated Modi on the electoral victory in a phone call. "During the conversation, Prime Minister @narendramodi invited President Wickremesinghe to his swearing-in ceremo

World leaders congratulate Modi ahead of third term as Prime Minister

Over 50 world leaders have congratulated Prime Minister Narendra Modi as he is set to take oath this week for a third straight term at the top office following the National Democratic Alliance's victory in the Lok Sabha polls. From India's neighbourhood and extended neighbourhood, presidents of Sri Lanka, the Maldives, Iran, Seychelles and prime ministers of Nepal, Bangladesh, Bhutan, Myanmar, Mauritius have sent congratulatory greetings to Modi. In a post on X, Singapore's Prime Minister Lawrence Wong described the victory of the NDA alliance as "historic" and said he was looking forward to working with his Indian counterpart to celebrate the 60th anniversary of diplomatic ties between the two nations next year. "Congratulations @narendramodi on the historic victory by the NDA for the third consecutive term. Look forward to working with you to deepen the Singapore-India partnership and to celebrate the 60th anniversary of diplomatic ties next year," Wong said on X. Among G20 ...

Leaders of Sri Lanka, Maldives, Nepal, congratulate PM Modi on poll victory

Sri Lankan President Ranil Wickremesinghe and Nepalese Prime Minister Pushpa Kamal Dahal 'Prachanda' on Tuesday congratulated Prime Minister Narendra Modi on the victory of the BJP-led NDA coalition in the general elections and expressed their desire to work closely with him. "I extend my warmest felicitations to the BJP-led NDA on its victory demonstrating the confidence of the Indian people in the progress and prosperity under the leadership of PM Narendra Modi," the Sri Lankan president wrote on X. As the closest neighbour Sri Lanka looks forward to further strengthening the partnership with India, he added. Nepal Prime Minister 'Prachanda' congratulated his Indian counterpart on the electoral success of his party-led alliance. "Congratulations to PM @narendramodi on the electoral success of BJP and NDA in the Lok Sabha elections for the third consecutive term. We are happy to note the successful completion of the world's largest democratic exercise with enthusiastic participati

IMF's second review for extended fund facility set for June 12: Sri Lanka

The second review of the IMF's Extended Fund Facility under the USD 2.9 billion bailout to Sri Lanka has been set for June 12, the cash-strapped island nation's minister of state for finance Shehan Semsinghe said on Monday. Semasinghe hoped that if everything goes according to the procedure, the review should lead to the release of USD 300 million from the international lender's third tranche. "The second review of the International Monetary Fund's extended fund facility under the USD 2.9 billion bailout to the cash-strapped Sri Lanka has been set for June 12," he said. He said that Sri Lanka expects continued support from all countries for a successful review to unlock the third tranche. "We look forward to the continued support of all countries for a successful review to unlock the third tranche which will further enhance economic stability, growth and reform efforts," Semasinghe said. The island nation, in April 2022, declared its first-ever sovereign default since gaining ...

Sri Lanka shuts schools as floods and mudslides leave 10 dead, 6 missing

Sri Lanka closed schools on Monday as heavy rain triggered floods and mudslides in many parts of the island nation, leaving at least 10 people dead and six others missing, officials said. The education ministry announced that the reopening of schools would depend on how the weather develops. Heavy downpours have wreaked havoc in many parts of the country since Sunday, flooding homes, fields and roads, and forcing authorities to cut electricity as a precaution. Six people died after being washed away and drowning in the capital, Colombo, and the remote Rathnapura district on Sunday, according to the disaster management center. Three others died when mounds of earth collapsed on their houses, and one person died when a tree fell on him. Six people have gone missing since Sunday. By Monday, over 5,000 people had been moved to evacuation centers and more than 400 homes had been damaged, the center said in a statement. Navy and army troops have been deployed to rescue victims and provi

15 yrs on, Tamil survivors of Lanka civil war live in fear, disempowerment

At the site of a bloody battlefield that marked the end of Sri Lanka's civil war, Singaram Soosaimuthu fishes every day with his son, casting nets and reeling them in. It is a skill he has known for much of his life and one that he had to relearn after a devastating injury. The former Tamil fighter lost both legs in 2009 as the nation's generation-long civil war drew to a close and the Tamils retreated in defeat. Making something of himself despite his injuries brought Soosaimuthu success an achievement in which he finds profound meaning. He sees his fellow ethnic Tamils in the same light: To regain their voice, they must thrive. But defeat bloody, protracted and decisive has brought Sri Lanka's minority Tamil community to a point of despair. Some parents have given up hope of ever learning the fate of the thousands of missing children. Parts of the Tamil lands are decimated, with poor infrastructure and fewer economic opportunities. Survivors have lived under surveillance for

Sri Lanka holds rates to control inflation, foster economic stability

Incoming data suggests that headline inflation is likely to be below the targeted level of 5 per cent in the upcoming months

Rajapaksas to launch political bid in Sri Lanka, to target elections

Sri Lanka's powerful Rajapaksa clan, which suffered political battering due to the country's worst economic crisis in 2022, will launch its political comeback bid on Sunday by targeting the impending elections. Former president Gotabaya Rajapaksa, ex-prime minister Mahinda Rajapaksa and former finance minister Basil Rajapaksa were ousted from power during anti-government protests following the crippling financial and political crisis in 2022. The ruling Sri Lanka People's Front of the Rajapaksas, commonly known by its Sinhalese name Sri Lanka Podujana Peramuna (SLPP), will hold a public rally later in the day in the north central rural town of Thalawa, party member and former minister SM Chandrasena told reporters. He said that Mahinda Rajapaksa would inaugurate the rally, aiming to prepare the party grassroots for the major elections - the presidential or the parliamentary. We will start our campaign to gear the party for whatever the election that comes first, Chandrasena ...

Senior Lankan officer to lead team probing arrest of 4 nationals in India

Sri Lanka police on Wednesday said a senior Deputy Inspector General will head a team appointed to investigate four of its citizens arrested in Gujarat when on an alleged mission to carry out terror activities in India at the behest of the banned Islamic State. Acting on a tip-off, the Gujarat Anti-Terrorist Squad (ATS) on Sunday apprehended four Sri Lankan nationals at the Sardar Vallabhai Patel airport in Ahmedabad after they travelled from Colombo via Chennai. The men travelled to India to carry out terror activities at the behest of the banned terror outfit Islamic State (IS) and are members of IS radicalised by a leader from Sri Lanka who is living in Pakistan, according to the Indian police. A senior Deputy Inspector General-headed police team has been appointed by the Inspector General Police (IGP) Deshabandu Tennakoon, police Spokesman and Senior Superintendent Nihal Thalduwa told PTI. He said the police chief's action followed official intimation of the Lankan citizens' ..

Sri Lanka strongly rejects UN rights report on enforced disappearances

Sri Lanka has questioned the timing and the mandate of a report issued by the Office of the United Nations High Commissioner for Human Rights (OHCHR) this week in which it asked the country's government to ensure accountability for enforced disappearances during the armed conflict with the LTTE. The OHCHR report issued on Friday said Sri Lanka's Government must take meaningful action to determine and disclose the fates and whereabouts of tens of thousands of people who have been subjected to enforced disappearance over the decades and hold those responsible to account. According to the Sri Lankan foreign ministry officials, the ministry would officially write to the OHCHR on its unilateral action to issue a report, particularly its timing. Sri Lanka was irked by the timing -- a day ahead of plans by the Tamil diaspora and kith and kin in the country of those who died during the final battle of the government's war with the LTTE in May 2009 to commemorate the dead. Events were held

PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka

Apart from the National Payments Corporation of India's (NPCI) UPI, these transactions will be facilitated by the LankaPay National Payment Network

PhonePe partners LankaPay, enables UPI payments for travelers in Sri Lanka

PhonePe on Wednesday announced a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. At an event to mark the collaboration, PhonePe said its app users travelling to Sri Lanka can make payments using UPI across LankaPay QR merchants. The transactions will be facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR, showing the currency exchange rate. PhonePe's CEO, International Payments, Ritesh Pai, said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points. "We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and