Page 33 - Sri Lanka

US should show sincerity, help Sri Lanka: China on economic crises

In a counter-attack to a recent comment made by US government on Sri Lankas debt restructuring process, China said that Washington should show sincerity by helping the crisis-hit island nation

S Jaishankar meets Sri Lanka's High Commissioner, bilateral ties discussed

Sri Lanka's High Commissioner to India, Milinda Moragoda, called on External Affairs Minister S Jaishankar on Tuesday. They discussed how to take the relationship forward between the two countries

Sri Lanka's economic growth in 2022 at minus 11%: President Wickremesinghe

Sri Lanka's overall economic growth in 2022 was minus 11 per cent and it could be - 3.5 to - 4 per cent this year, President Ranil Wickremesinghe said on Saturday, as the island nation tried hard to overcome its worst economic crisis since independence. Wickremesinghe, who also holds the finance ministry portfolio, said that 2022 overall economic growth was larger than the expected at - 8 per cent and in 2023 the growth rate could hover somewhere around - 3.5 per cent to - 4 per cent. The growth rate of the economy in 2022 was - 11 per cent. It could be - 3.5 to - 4 per cent this year, Wickremesinghe told a gathering in the north central district of Anuradhapura. During mid 2022 Sri Lanka faced the worst economic crisis which led to months long public protests leading to a political crisis. Shortages of essentials due to the forex crisis forced people onto the streets demanding the resignation of president Gotabaya Rajapaksa. Last year in April, Sri Lanka declared its first-ever d

Debt-ridden Sri Lanka thanks India for backing its $2.9 bn bailout package

Debt-ridden Sri Lanka on Wednesday thanked India for issuing the necessary guarantees sought by the IMF that would help Colombo to unlock the USD 2.9 billion bailout package. India's ministry of finance recently issued a letter to the International Monetary Fund (IMF) to confirm its support to Sri Lanka on the issue of debt restructuring. Also, External Affairs Minister S Jaishankar during his recent visit to Colombo gave the required assurances to Sri Lanka's top leadership for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts to recover from its worst-ever economic crisis. In a statement on Wednesday, the Governor of the Central Bank of Sri Lanka Nandalal Weerasinghe thanked India for issuing the necessary guarantees warranted by the IMF for unlocking the USD 2.9 billion bailout for the country. "India has clearly given financial assurances which are acceptable to the IMF..which has all the necessary assurances ..fir

India commits to help Sri Lanka on debt in prospective IMF program

India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday

After India's backing, China too offers support to Lanka for IMF bailout

China has given debt-ridden Sri Lanka the financing assurances required by the IMF to unlock a USD 2.9 billion bailout package for the country, days after India strongly backed the island nation's efforts to secure the loan from the global lender to recover from its worst-ever economic crisis. The Sunday Times newspaper reported that China's Exim Bank delivered a letter on Saturday granting Sri Lanka a two-year moratorium on repayment and agreeing with the International Monetary Fund's extended fund facility (EFF). The report was confirmed by Sri Lankan officials who did not want to be named. The Chinese response came close on the heels of India stepping in first to issue the necessary assurances last week. India's ministry of finance last week issued a letter to the IMF to confirm its support to Sri Lanka on the issue of debt restructuring, ahead of the visit by the external affairs minister S Jaishankar to Colombo which concluded on Friday. Jaishankar during his visit also annou

Sri Lanka earned $900 million through rubber exports in 2022: Official

Director General of the department Madawa Kulasuriya told the media on Saturday that this was a slight drop from 2021 revenue, which was $1 billion

India to double its high-impact community development project in Sri Lanka

India on Friday agreed to double its high-impact community development project in Sri Lanka with a new bilateral agreement signed during the much-anticipated visit of External Affairs Minister S Jaishankar. Jaishankar, who is on a two-day visit to the debt-trapped island nation, met top leaders to enhance bilateral ties and finalise a debt restructuring plan to help Colombo carve out a path from its economic crisis. "This agreement related to community development projects in Sri Lanka with the support of the government of India was signed in May 2005. Its project limit was rupees 300 million which will now be doubled to rupees 600 million by the agreement signed today," a statement from President Ranil Wickremesinghe's office said. Jaishankar also handed over 300 completed houses in the Galle, Kandy, and Nuwara Eliya districts in the housing project implemented by India. Wickremesinghe's office said that during the talks special attention was paid to the debt restructuring program

India considers full implementation of 13A in Sri Lanka 'critical': EAM

India considers the full implementation of the 13th Amendment in Sri Lanka "critical" for achieving reconciliation with the minority Tamil community, EAM S Jaishankar said

Only elections can avert Sri Lanka-like crisis, says former Pak PM Khan

Former Prime Minister Imran Khan warned that the country could slide into Sri Lanka-like situation if "free and fair" elections were not held by the incumbent government

Lanka thanks India for support, assurances given to IMF to restructure debt

Jaishankar, who is here on a two-day visit, on Thursday met Sri Lanka's top leadership, including his Sri Lankan counterpart Ali Sabry and President Ranil Wickremesinghe

EAM Jaishankar to embark on official visit to Sri Lanka from today

External Affairs Minister, S Jaishankar will undertake an official visit to Sri Lanka from January 19-20, 2023

Leyland bags contract to supply 500 buses to Sri Lanka Transport Board

Over 5,000 Ashok Leyland buses are currently in operation with SLTB, the company said

S Jaishankar visits Maldives, to witness impact of developmental assistance

Jaishankar is on a three-day visit to the Maldives and Sri Lanka beginning to further expand bilateral engagement with the two key maritime neighbours of India

Debt restructuring talks with India, China successful, says Sri Lanka prez

Sri Lankan President Ranil Wickremesinghe on Tuesday informed the parliament that talks with India and China on debt restructuring are successful

Sri Lanka, US to conduct joint exercises to maintain free Indo-Pacific

Sri Lanka and the US will conduct a week-long joint military exercises starting Thursday to prepare for disaster relief and maintain a free and open Indo-Pacific

India writes to IMF backing Sri Lanka's debt restructuring plan: Report

Sri Lanka owes India around $1 billion that will come under the debt restructuring plan

LIVE: India to include concerns of Global South in G20, says LS Speaker

Catch all the latest uipdates from across the globe here

Ahead of Jaishankar's visit, Sri Lanka Prez assures to fully implement 13A

Ahead of visit by India's EAM S. Jaishankar to Sri Lanka this week, President Ranil Wickremesinghe has assured to fully implement the India-brokered 13th Amendment to the Constitution

Like India said, 13A should be implemented: Sri Lanka president

13th Amendment is for devolution of power to the Tamil community