Future of Sri Lankan cricket bright says coach Mubarak
T20 World Cup: Jason Roy dropped by England, Chris Woakes & Mark Wood in
US Open: Iga Swiatek beats Sloane Stephens to reach third round
Mendis, Shanaka and Asitha put Sri Lanka in the Super 4s
Rafael Nadal overcomes early struggles to beat Fabio Fognini at US Open
India’s Gautam Adani becomes world’s third-richest person
The Lanka Hospitals Corporation PLC records strong performance in first half of 2022
HNB launches Affinity Credit Cards packed with benefits for the members of Ladies’ College OGA
‘Thank you India’ – Sri Lankans come together in a spirit of gratitude for India’s help in our hour of need
Sri Lanka pavilion – a success at Posidonia 2022
Published
on
By
Three Sri Lankan expatriates, as special attendees at an official State of Nevada Democratic Party gathering, in Las Vegas, where U.S. House Speaker Nancy Pelosi was the guest of honour, extended their unreserved gratitude to House Member Dina Titus for taking the leadership to assist Sri Lanka, in recent months, with food and nutritional requirements, foreign media reports said.
Sanje Sedera, Chairman of both Sri Lanka-America Chamber of Commerce and Sri Lanka-America Association of Las Vegas, along with two executive directors of both organizations Lalindra Wickremaratne and Daya Gamage, on behalf of the Sri Lankan people, thanked Congresswoman Dina Titus for taking the lead to impress upon Washington policymakers the urgent need for humanitarian assistance to Sri Lanka.
Since Dina Titus, and nine other Congressmen, addressed an official communiqué to U.S. Secretary of State, Antony Blinken, and USAID Administrator, Samantha Power, early August, Washington has taken swift measures to dispatch humanitarian assistance to Colombo, it has been noted. Sri Lanka-America Chamber of Commerce, a national entity, based in the Convention Capital of the world, Las Vegas, since its debut a year ago, has gradually been reaching to policymakers in Washington, D.C., U.S. Congressmen who have assignments in foreign affairs, agriculture and commerce and the U.S. Department of Treasury, on issues such as trade, investment and commerce between the two countries.
Two senior officials from the Treasury Department travelled all the way to Las Vegas to have a dialogue with the officials of the Chamber, in June this year. One of them had travelled to Sri Lanka, the previous month, to meet several Cabinet members, including Ali Sabry.
The Chamber, in recent months,has given top priority to find avenues to get humanitarian assistance to Sri Lanka, a spokesman noted.
The three officials of the two Sri Lankan expatriate organizations attended the ruling Democratic Party official gathering to have discourses with lawmakers to further encourage them to help enhance humanitarian assistance to the economically beleaguered Sri Lanka.
The Sri Lankan expatriates made House Speaker Nancy Pelosi knowledgeable during their conversation with her at this gathering.
Political activist and entrepreneur Sanje Sedera says that the close rapport he and other expatriates developed with Washington lawmakers and policymakers, during the past two decades, as well as using strategic diplomacy is bringing dividends at this hour of need for Sri Lanka.
Congresswoman Dina Titus remarked that she and her colleague in the Congress are aware of the plight of Sri Lanka and reiterated her commitment to assist Colombo, it has been reported.
Low quality crude has resulted in 22% drop in diesel production
SriLankan Airlines ready to sell stake in its ownership
Your email address will not be published. Required fields are marked *
Published
on
By
ECONOMYNEXT –Sri Lanka’s ongoing economic crisis would deepen if one creditor disagrees, a senior International Monetary Fund (IMF) official said amid concerns that China would not go along with Western creditors on debt restructuring on an equal footing.
All Sri Lankan creditors including China have to agree to restructure their existing loans to the island nation before the IMF starts disbursing a 2.9 billion US dollar loan on which preliminary agreement was announced on Thursday.
“If one creditor or creditors are not willing to provide these assurances, that would indeed deepen the crisis here in Sri Lanka and would undermine the repayment capacity,” Peter Breuer, senior IMF mission chief told reporters in Colombo when asked what if China does not agree on a debt restructuring plan.
“So a deepening crisis means that essentially the resources available to service the debt would become less,” he said at the media briefing after concluding a nine-day visit to finalize the staff-level agreement and a loan package for Sri Lanka’s reforms.
“So it is actually in the interest of all creditors to collaborate together and with Sri Lanka so that Sri Lanka can emerge from this crisis as quickly as possible and regain its repayment capacity and service this new debt that will come out of these debt negotiations.”
China has so far not agreed for debt restructuring which could include haircut or reductions in interest rates. Instead, China has expressed its willingness to refinance Sri Lanka to repay its past loans without any changes, Lankan officials say.Sri Lanka has already hired financial and legal advisory firms Lazard and Clifford Chance LLP to support its debt restructuring as the country is on the brink of bankruptcy. Lazard has been the legal adviser in Zambia’s debt restructuring where creditors included China.
The Paris Club of Western nations which has a well defined unified process for dealing with defaulted nations, which is familiar to the IMF.
“Sri Lanka is in a special situation that much of its official debt is outside of Paris Club creditors,” Breuer said.
“It is important to move expeditiously. We want to avoid the crisis from becoming worse.”
Published
on
By
The interim budget proposals by President Ranil Wickremeisnghe in his capacity as Finance Minister was passed in Parliament with the majority of 115 votes on Friday. The Bill titled Appropriation (Amendment) Bill was passed with 120 voting for and five members voting against while 43 MPs including the SJB and an SLPP dissidents abstaining.
JVP-led NPP’s Anura Kumara Dissanayake, Vijitha Herath, Dr Harini Amarasuriya and ACTC’s Gajendrakumar Ponnambalam and TNPF’s Selvarajah Kajendran voted against the budget.
SJB MP Thushara Indunil Amarasena and SLPP dissident group leader MP Prof G L Peiris announced hours before the vote that they would abstain.Prof Peiris said that the interim budget presented by Wickremesinghe, who is also finance minister, contains many “negative” proposals that are harmful to Sri Lanka but he and his group of independent MPs do not intend in any way to scuttle Sri Lanka’s ongoing talks with the IMF.
“We did not get an opportunity express our views on the contents of this interim budget. Taking all this into account, we have decided to abstain from voting this evening,” he said.
Amarasena said the interim budget document contains no proposals the SJB can support, but though there are grounds for opposing it, the party won’t be so harsh as to send the wrong message to the world vis-à-vis the government.
“As a party, we have decide to neither support nor oppose President Wickremesinghe’s budget and to abstain from voting instead,” he said.
The vote was taken at 5.30 pm after a four day debate. President Wickremesinghe in his capacity as Minister of Finance on Tuesday (Aug 30), presented the budget proposals.
Published
on
By
At a magnificent event at the Hotel Taj Samudra last Wednesday, a large number of Sri Lankans gathered in a marquee pitched on the north lawn of the hotel to say ‘thank you’ to India for the massive support rendered to Sri Lanka in its present crisis.
A large number of people from various walks of life were present on this occasion to hear 11 well known personalities, including two erudite Buddhist monks express the heartfelt thanks of the Sri Lankan people to the government and people of India for their magnificent response in this country’s hour of need.
Indian High Commissioner Gopal Baglay and diplomatic other staff were among those present on this occasion at which Foreign Minister Ali Sabry was was also present and was a speaker. So were many business and other personalities as well as ordinary people. All speakers asked the high commissioner to convey the sentiments expressed to the government and people of India.Arun Bandaranayake who compered and hosted the event said that in addition to those physically present on the occasion, there were many thousands more present in spirit. High Commissioner Baglay, visibly moved by the sentiments expressed said that he was at a loss on how to say “thank you to thank you.”
Before the speeches began, the two Buddhist monks who spoke blessed Baglay and tied a pirith nool round his wrist. Many of the speakers referred to the warmth and hospitality they had personally experienced in India and India’s goodwill to its closest neighbour.
The speakers included Anunayake Dr. Kosgoda Sri Subhuthi, Dr. M. Wimalasari Thero, Prof. Jagath Ravindra, Mrs. Kimarli Fernando, former Tourist Board chairperson, Sarvodaya chief, Dr. Vinya Ariyaratne, Architect and Engineer Navin Gooneratne who produced the epic film Siddhartha Gauthama, Toastmasters Chief A. Balraj, Ms. Nayomini Weerasooriya, founder/editor Satyn Magazine, entrepreneur and women’s acivist, Mahendra Amarasuriya former President of Lion’s International and KR Ravindran, former global head of Rotary.Bandaranayake said that the event was not funded by any identifiable group or Individual and was a spontaneous outpouring of gratitude. Participants paid their own way.
Sajith tears into govt. over mega corrupt deal
SJB MPs storm out of meeting
Response to economic revival plan pathetic: Harsha disappointed
‘Chinese missile tracker ship prospecting Indian Ocean bed south of SL’
Ruination of CEB blamed on yahapalana minister
LCC chairman drops bombshell
Opposition alleges govt. conspiracy to oust CB Governor
Sri Lanka pays USD 295 per MT of coal while Russian companies sell it at USD160!
