Page 13 - Sri Lanka

11 Sri Lankan nationals planning to sail abroad held in Kerala's Kollam

Eleven Sri Lankan nationals, who were planning to go to Australia by a boat from Kerala's Kollam, were taken into custody from a lodge

India provided nearly $4 billion in food, financial assistance to Sri Lanka

India has always played a constructive and significant role in the context of peacebuilding through its extensive development partnership with countries of the Global South

IMF chief pleased that Sri Lanka reached staff-level deal for $2.9 billion

The IMF chief Kristalina Georgieva on Sunday said she is pleased the Washington-based lender and the Sri Lankan government have reached a staff-level agreement to provide about USD 2.9 billion to help the bankrupt country, terming the deal as an important step forward. The International Monetary Fund (IMF) on Thursday announced that it will provide Sri Lanka a loan of about USD 2.9 billion over a four-year period to help the island nation overcome the unprecedented economic turmoil. The bailout package is expected to boost the country's credit ratings and the confidence of international creditors and investors. Very pleased that IMF staff and Sri Lankan government officials have reached a staff-level agreement to support the country's economic policies with a 48-month Extended Fund Facility of about USD 2.9 billion, Georgieva said in a tweet. This is an important step forward for Sri Lanka, she added. The new Extended Fund Facility (EFF) arrangement will support Sri Lanka's progra

Bangladesh will not face any Sri Lanka type crisis: PM Sheikh Hasina

Dismissing concerns that Bangladesh could go the Sri Lanka way, PM Sheikh Hasina said that despite Covid onslaught and the conflict in Ukraine, her country's economy continued to be in robust shape

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With no immunity, Sri Lanka's ousted prez Rajapaksa faces legal troubles

Sri Lanka's ousted President Gotabaya Rajapaksa, who returned home after seven weeks in exile following protests over economic hardships, could face legal action over forced disappearances of activists now that he has been stripped of constitutional immunity, a lawyer said Saturday. Rajapaksa flew to Colombo around midnight Friday from Thailand and was escorted under military guard to his new home in the capital. He has no pending court cases because he was protected by constitutional immunity as president. A corruption case against him during his time as a top defence official was withdrawn soon after he was elected in 2019. However, Rajapaksa will be served a summons next week to appear at the Supreme Court, where his immunity from testifying on the forced disappearance of two young political activists is challenged, said lawyer Nuwan Bopage, who represents the victims' families. He said Rajapaksa fled the country when he was about to be served a summons in July. The disappearanc

Latest live: Kejriwal biggest 'U-turn leader' in India, says BJP's Tejaswi

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Lanka's ex-President Gotabaya returns home, gets special security, bungalow

Sri Lanka's former President Gotabaya Rajapaksa has been given special security and a state bungalow for accommodation on his return here from Thailand where he fled amid months-long mass protests over the country's worst economic crisis, officials said on Saturday. Rajapaksa, 73, was accorded a warm welcome as he returned to Colombo from Thailand amid tight security on late Friday. He was festooned with flowers by a welcoming party of ministers and politicians as he disembarked at Colombo's Bandaranaike International Airport from Bangkok via Singapore. The former president wanted to move into his private residence at Mirihana in Colombo's eastern suburb of Nugegoda. However, security considerations prevented him from going to his private residence where he always lived even after becoming the president in 2019, officials said. After being welcomed by lawmakers of the ruling Sri Lanka Podujana Peramuna (SLPP) party, Rajapaksa left the airport in a motorcade heavily guarded by armed

Amid economic crisis, Sri Lanka's parliament passes interim budget

The interim budget was presented to Parliament on August 30 by President Ranil Wickremesinghe

Sri Lanka's ex-president Gotabaya Rajapaksa returns from Thailand

Rajapaksa, 73, returned to Katunayake International Airport on a Singapore airlines SQ-468 flight

Sri Lanka parliament passes 2022 interim budget with 120 votes, 5 opposed

Sri Lanka's Parliament passed the interim budget presented by President Ranil Wickremesinghe for 2022 on Friday, a day after the IMF announced it will provide a loan of about USD 2.9 billion to help the crisis-hit country tide over its worst economic hardships. The budget was passed with only 5 members voting against it. Three legislators from the Janatha Vimukthi Peramuna (JVP) and two MPs from the All Ceylon Tamil Congress voted against the interim budget. A total of 115 members in the 225-member assembly voted in favor while the main opposition SJB abstained from voting. Wickremesinghe aimed for tax reforms while allowing relief to the most vulnerable groups affected by the ongoing economic crisis in the island nation. The interim budget introduced a number of tax reforms pertaining to income tax, value added tax (VAT), telecommunication levy and betting and gaming levy. VAT rate will be increased to 15 per cent from the current rate of 12 per cent with effect from September 1 t

Could an Indian airline be in race for SriLankan Airlines stake buy?

Even if things improve, it would be hard to keep funding the airline's operations, as the airline has been bleeding money for a while.

SL vs BAN, match 5- Asia Cup 2022: Match preview, live streaming, team

Sri Lanka Vs Bangladesh, Match 5- Asia Cup 2022: Bangladesh will play against Sri Lanka in the virtual quarterfinal to make it to the super fours. Read this article to know everything

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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