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Ranil Wickramasinghe

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

Updated On : 22 Jan 2023 | 7:28 AM IST

India's response to debt restructuring request expected by Jan end: SL

President Ranil Wickremesinghe has said that India's response to cash-strapped Sri Lanka's request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to to get financial assurances from its major creditors -- China, Japan and India -- which is the requisite for Colombo to get the bailout package. Talking to the media, Wickremesinghe on Friday also said that he is hopeful of obtaining the USD 2.9 billion IMF facility in the first quarter of this year. Sri Lanka had begun debt restructuring talks with its creditors since September last year as warranted by its agreement with the IMF for the USD 2.9 billion facility over four years. The cash-strapped country began negotiating with the IMF for a bail-out after having announced its first-ever sovereign debt default in April last year. Wickremesinghe had earlier said that India and Sri Lanka held ...

Updated On : 07 Jan 2023 | 5:25 PM IST

2023 will be critical, plan to turn around the economy: Sri Lankan Prez

Sri Lanka President Ranil Wickremesinghe on Sunday said 2023 will be a critical year for the cash-strapped country, as his regime desperately scrambles to inject much-needed impetus to galvanise the beleaguered economy. Sri Lanka was hit by an unprecedented financial crisis in 2022 due to a severe paucity in foreign exchange reserves that also sparked political turmoil in the island nation that led to the ouster of the all-powerful Rajapaksa family. We are looking at the New Year 2023 after having undergone the bleakest of times, immense hardships, as well as the uncertainties and hopelessness of the last year, Wickremesinghe said in his New Year's message, as Sri Lanka turns 75 as an independent nation later this year. I understand the great burdens that are placed on all of us and the setbacks that a majority of us have suffered due to the country's abject economic collapse, he said. From April to July, chaos reigned supreme on Sri Lanka, with miles-long queues forming at fuel ..

Updated On : 01 Jan 2023 | 10:18 AM IST

Sri Lanka passes Constitutional amendment curtailing President's powers

The Sri Lankan Parliament on Friday passed, with over 2/3 majority, the 22nd Amendment to the Constitution curtailing certain powers of the President.

Updated On : 21 Oct 2022 | 10:40 PM IST

Sri Lanka will not be part of any Indian Ocean turf war, says President

Sri Lanka will not take part in any "big power rivalry" in the Indian Ocean and it is unfortunate that his country has been made the "punching bag" for Hambantota, President Ranil Wickremesinghe has said, weeks after India and China clashed over the docking of a high-tech Chinese ship at the country's southern port. Sri Lanka certainly does not want the problems of the Pacific coming to the Indian Ocean, he said while speaking on the crisis-hit country's position on the geo-political stage. "We don't participate in a military alliance, and we certainly do not want the problems of the Pacific coming to the Indian Ocean. We don't want this to be an area of conflict and an area of war. Sri Lanka will not take part in any big power rivalry," said Wickremesinghe on Wednesday while addressing the graduation ceremony of the National Defense College. His remarks came weeks after the Chinese embassy and the Indian High Commission here clashed verbally over the docking of the Chinese ship 'Yu

Updated On : 15 Sep 2022 | 11:10 PM IST

Sri Lankan Prez says Govt won't oppose Bill to decriminalise homosexuality

Sri Lankan Pres Ranil Wickremesinghe said that the government will not oppose the Private Member's Bill presented to Parliament to decriminalise homosexuality

Updated On : 12 Sep 2022 | 6:45 AM IST

Sri Lankan President Wickremesinghe reviews progress of Indian projects

Sri Lankan President Ranil Wickremesinghe on Friday advised officials to act immediately and amend government circulars if they impede Indian investment projects in the cash-strapped island nation. Wickremesinghe at a meeting attended by Vinod K Jacob, the Deputy Indian High Commissioner, examined the progress of several development projects in the country based on Indian investment cooperation, an official statement said. Wickremesinghe advised the office to amend the relevant government circulars immediately if they impeded the development projects. New Delhi at different times had raised the slow progress in implementing the Indian projects in the country. In the ongoing economic crisis, India has provided Sri Lanka with credit lines for fuel, fertiliser and essential commodities worth USD 3.5 billion. Additionally, three credit lines were provided to the tune of USD 1.5 billion and foreign exchange crisis support of USD 2 billion, the Indian High Commission said. The governme

Updated On : 09 Sep 2022 | 8:20 PM IST