Page 44 - Sri Lanka

Asia Cup 2022: Bangladesh vs Afghanistan; Who has better chances of a win

Bangladesh vs Afghanistan, Asia Cup 2022: The underdogs Afghanistan and Bangladesh cricket teams will play in the third match to compete for the super fours in Asia Cup 2022.

Issue of creditor equatability important: India on Lanka IMF loan

With the IMF announcing a loan of about USD 2.9 billion to Sri Lanka, India on Thursday said it has been advocating assistance to the crisis-hit country and underlined that the issues of "creditor equitability and transparency" are important. The IMF on Thursday announced that it will provide Sri Lanka a loan of about USD 2.9 billion over four years under a preliminary agreement to help the bankrupt island nation tide over its worst economic crisis and protect the livelihoods of the people. Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves. Asked about the development, Ministry of External Affairs Spokesperson Arindam Bagchi said, "We have seen the press release by the IMF regarding the staff-level agreement...the IMF release said the objectives include restoration of macroeconomic stability, debt sustainability, protecting the vulnerables, stepping up structural reforms." "We als

Ex-Sri Lankan president Gotabaya likely to return on Saturday: Reports

Former Sri Lankan president Gotabaya Rajapaksa, who fled the country following an uprising against his government over the island-nation's worst-ever economic crisis, may return to the country from Thailand on Saturday, according to media reports on Thursday. Rajapaksa, 73, fled the country on July 13 after months-long mass public demonstrations demanding his immediate resignation on July 9 gained momentum after protesters stormed the President's House in Colombo and several other state buildings in the capital. Rajapaksa will return back to the country on Saturday, a source close to him was quoted as saying by the Daily Mirror news portal. Having gone to the Maldives on a Sri Lanka Airforce plane, the former president proceeded to Singapore from where he sent in his resignation on July 13. Later, he flew to Thailand, seeking temporary shelter. Thailand's foreign minister Don Pramudwinai has said that Rajapaksa can stay in the country for 90 days because he is still a diplomatic ..

Sri Lanka Vs Bangladesh, Head to Head: Previous matches, qualification

Sri Lanka vs Bangladesh will play against each other in the last group B match of Asia Cup 2022. Who will win? Who would be knocked out? Read this detailed article to know everything

IMF strikes $2.9 bn deal with Sri Lanka to recover from financial crisis

IMF said that the economy is expected to contract by 8.7 per cent in 2022 and inflation recently exceeded 60 per cent, of which the impact has been disproportionately borne by the poor

Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan: Report

The debt-laden island nation had sought up to $3 billion from the global lender as it struggles with its worst economic crisis in more than seven decades

IMF may make formal announcement on SL's bailout package tomorrow: Reports

The visiting IMF delegation is expected to conclude talks with the Sri Lankan government and make a formal announcement on Thursday on the much-awaited bailout package and staff-level agreement for the cash-strapped island nation, media reports said on Wednesday. Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves. The second such visit from the International Monetary Fund (IMF) in three months comes at a time when Sri Lanka is scrambling to chalk out a staff-level agreement with the Washington-based global lender for a USD 5 billion programme, which could be the antidote for the country's current economic travails. "The IMF Mission in Colombo has been extended by one day because discussions are still ongoing with the authorities, Colombo Page news portal reported, quoting Senior Mission chief Peter Breuer, as saying. Breuer, who is an expert in debt restructuring, said his team pla

Sri Lanka to form unit to help restructure state-owned enterprises: Prez

He also said value-added tax will be increased from 12 to 15 per cent effective from September 1 and the retirement age of government and semi-government employees will be reduced to 60 years

Sri Lanka introduces five-year multiple entry tourist visa scheme

In an effort to boost the tourism industry amid the economic crisis, the Sri Lankan govt on Tuesday said the island nation has extended its multiple-entry tourist visa to five years

Sri Lanka's economy continues to deteriorate, inflation rate spikes in July

The economic situation has continued to deteriorate in Sri Lanka, with the headline inflation rate spiking to another record high in July, World Food Programme (WFP) said on Tuesday

Sri Lanka president raises IMF loan hopes, budget aims to bolster revenue

Sri Lanka's talks with the IMF on a bailout package have made solid progress, its president said

Japan provides food assistance worth $1.5 mn to Sri Lanka under UNWFP

This first tranche forms part of the donation consisting of rice, lentils, and oil, which will be distributed by WFP to approximately 15,000 people in both urban and rural areas

Sri Lankan President to present interim budget with major relief measures

A comprehensive budget is also planned to be presented for the year 2023 in November

Latest LIVE: Nadda asks Kejriwal to prove innocence in liquor scam case

From the developments around Congress president elections to latest Covid news, catch all the live updates here

Crisis-hit Sri Lanka to privatise national carrier as it runs out of money

Sri Lanka on Monday said it will privatise the country's loss-making national carrier as the cash-strapped government "can no longer afford to inject money" into running the airline. The government is looking to sell a 49 per cent stake each of the SriLankan Airlines' catering and ground-handling units in efforts to restructure the state-run carrier, while 51 per cent will be retained under state hold, Aviation Minister Nimal Siripala de Silva told reporters here. This restructuring is essential as the government can no longer afford to inject money into running the airline, he said. Annually the government has been providing the airline between USD 80 billion to USD 200 billion to run its operations, de Silva said. The minister said the revenue from the sale of the catering operation can be used to pay off debt amounting to USD 80 million that was obtained by mortgaging its shares, as well as some other loans. The airline's debt currently amounts to USD 1.226 billion (LKR 401 ...

India, 9 other countries eye Lankan market to sell petroleum items: Report

Sri Lanka's Ministry of Power and Energy has said that 24 companies from 10 countries, including India have evinced interest in selling petroleum products in the crisis-hit country's petroleum sector, according to media reports. Sri Lanka is in the midst of its worst economic crisis in decades, which is triggered by a severe paucity of foreign exchange reserves. Sri Lanka's Minister of Power and Energy Kanchana Wijesekera said that 24 companies from the United Arab Emirates, Saudi Arabia, the United States, China, India, Russia, the UK, Malaysia, Norway and the Philippines have submitted proposals for the Expressions of Interest (EOI) to engage in the country's petroleum sector, news portal Colombo Page reported on Sunday. In July, the Ministry of Power and Energy had called for EOI from established companies in petroleum producing countries using their funds for distribution and selling of petroleum products in Sri Lanka on a long-term basis. A ministry-appointed panel will now ..

24 foreign firms show interest in petroleum business in Sri Lanka: Minister

Twenty-four companies from India, the United Arab Emirates, Saudi Arabia, the US, China, Russia, the UK, Malaysia, Norway, and the Philippines are interested in the petroleum business in Sri Lanka

'The ball is in Sri Lanka's court': China on debt restructuring request

China has said "the ball is in Sri Lanka's court" as it avoided giving a direct reply to the island nation's request of restructuring its debt, according to a media report. Sri Lankan has been urging China to restructure its debt as the nation continues to reel under an acute economic crisis. It is estimated that Sri Lanka owes debt payments of USD 1.5 to 2 billion this year to China. Overall China's loans and investments in Sri Lanka were estimated to be more than USD eight billion in the last few years. But Beijing has not made a public commitment for debt relief assistance to Sri Lanka so far. Quoting a Chinese embassy spokesman, the Daily Mirror news website on Saturday reported that Beijing had communicated to the Sri Lankan Finance Ministry three months ago about its readiness to discuss how to address the debt issue with the Chinese banks. China encouraged its banks to discuss it. The Chinese position was also communicated during the telephone conversation between Chinese .

Sri Lankan Navy arrests 6 Indian fishermen from Tamil Nadu, apprehends boat

The Sri Lankan Navy has arrested six Indian fishermen from Tamil Nadu and apprehended their boat

'Ball in Sri Lanka's court', says China on debt restructuring request

China has said "the ball is in Sri Lanka's court" as it avoided giving a direct reply to the island nation's request of restructuring its debt, according to a media report here on Saturday. Sri Lankan has been urging China to restructure its debt as the nation continues to reel under acute economic crisis. It is estimated that Sri Lanka owes debt payments of USD 1.5 to 2 billion this year to China. Overall China's loans and investments in Sri Lanka were estimated to be more than USD eight billion in the last few years. But Beijing has not made a public commitment for debt relief assistance to Sri Lanka so far. Quoting a Chinese embassy spokesman, Daily Mirror news website reported that Beijing had communicated to the Sri Lankan Finance Ministry three months ago about its readiness to discuss how to address the debt issue with the Chinese banks. China encouraged its banks to discuss it. The Chinese position was also communicated during the telephone conversation between Chinese Prem