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Bondholders express concern over debt restructuring amid political uncertainty

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The representatives of bondholders who hold more around 50 percent of Sri Lanka’s outstanding international sovereign bonds (ISB) , during closed door interactions with the representatives of Sri Lankan political parties, have expressed fear whether any debt restructuring agreement will be honored in case of a regime change at the elections pending this year, Daily Mirror learns.

The bond holders held talks with various political leaders including from the opposition parties such as the Samagi Jana Balawegaya (SJB), the National People’s Power (NPP) and the United Republican Front (URF) led by MP Patali Champika Ranawaka during the New Year holiday period.

During talks with the NPP, the party has assured that the programme with the IMF (International Monetary Fund) will not be derailed.

Currently, the Sri Lankan government has concluded the initial restricted discussions with nine members of the Steering Committee of the Ad Hoc Group of Bondholders over a span of three weeks. Sri Lanka was joined by its legal and financial advisors Clifford Chance and Lazard, respectively, while the restricted members of the Steering Committee were joined by the Group’s legal and financial advisors, White & Case and Rothschild & Co., respectively.

The Steering Committee as a whole comprises ten of the largest members of the Group, with the Group controlling approximately 50% of the aggregate outstanding amount of ISBs.

Earlier, the Finance Ministry said in a statement that the parties failed to come to an agreement on restructuring terms, despite the constructive discussions.

During this period, Sri Lanka, the Steering Committee and its advisors met during a two-day working session in London on 27 and 28 March to discuss the Group’s latest debt treatment proposal. Prior to the meetings, March 15 Sri Lanka had also sent its own debt treatment proposal to the Group’s advisors which was rejected by the Steering Committee.

Also, Sri Lanka rejected last week international bondholders’ proposal to restructure more than $12 billion in debt, putting at risk critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

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Police hunt for ‘Teacher Amma’ after alleged assault on youth

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Police have launched an investigation to arrest the popular tutor Hyeshika Fernando, also known as ‘Teacher Amma’, for allegedly assaulting a young man.

It is reported that Hayeshika Fernando had kicked the young man’s testicles, after which he was admitted to the Negombo Hospital for treatment.

Following the incident, Hyeshika Fernando had fled the area, but her husband and her manager had been taken into custody by the Katana Police.

After being produced before the Negombo Magistrate’s Court, the two suspects were ordered to be remanded until May 14.

The Magistrate has also instructed the Katana Police to carry out further investigations and to arrest and produce in court the main suspect in the case — the tutor Hyeshika Fernando, popularly known as ‘Teacher Amma’.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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State Vesak Festival 2025 begins (Pics)

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The State Vesak Festival for the Buddhist Year 2569 commenced today (10) at the International Buddhist Centre Temple in Nuwara Eliya, under the patronage of the Most Venerable Maha Nayaka Theros of the Three Nikayas and with the participation of President Anura Kumara Disanayake. 

This year’s State Vesak Festival is held under the theme “Bhajetha Miththe Kalyane–Bhajetha Purisuththame”  (Associate with noble friends of virtue) and will be conducted from May 10 to 16, cantered around the Nuwara Eliya District.

Organized in line with the guidance of the Most Venerable Mahanayaka Theros and the directives of the All Island Shasanarakshaka Mandalaya, the festival is  coordinated by the by the Presidential Secretariat, the Prime Minister’s Office, the Ministry of Buddhasasana, Religious and Cultural Affairs, the Department of Buddhist Affairs, the Central Provincial Council and the District Secretariat of Nuwara Eliya.

In conjunction with the declaration of the ‘Vesak Week’ from May 10 to 16, a series of Buddhist religious programmes have been organized in accordance with government policy to promote the spiritual development of the people. Additionally, on-going development work at several temples in the Nuwara Eliya District will be completed during this period with the support of the tri-forces.

Further, a number of special programmes are being implemented under the “Clean Sri Lanka” initiative to foster spiritual growth and Buddhist awareness among the public in parallel with the State Vesak Festival.

Hosting this year’s State Vesak Festival in the multi-religious and multi-cultural Nuwara Eliya District is of special significance. It aims to foster Buddhist enlightenment across the country and further strengthen ties with Buddhist nations around the world.

To mark the occasion of 2569th State Vesak Festival, a commemorative stamp was issued, with the first stamp being officially presented to the President.

The event also included the presentation of ‘Sri Sannas Patra’ (official declarations) designating the historic Maliyadeva Purana Raja Maha Viharaya in Kotmale and the Sri Vishnu Devalaya in Kurunegala as sites of religious worship, both formally handed over by the President. 

The event was graced by prominent members of the Maha Sangha, including Chief Registrar of the Malwathu Chapter of the Siam Maha Nikaya and Chief Incumbent of the Somawathi Raja Maha Viharaya Most Venerable Dr. Pahamune Sri Sumangala Nayaka Thero, Anunayake of the Asgiri Chapter of the Siam Maha Nikaya Anamaduwe Most Venerable Sri Dammadassi Nayaka Thero together with the Maha Sangha representing the three Nikayas, The Chairman of the All Island Shasanarakshaka Mandalaya, Most Venerable Professor Thubulle Seelakkhanda Nayaka Thera, the Chief Registrar of Samastha Lanka Shasanarakshaka Balamandala, Venerable Muganuwala Anuruddha Nayaka Thera, along with the Maha Sangha of the Samastha Lanka Shasanarakshaka Balamandalaya.  

Also in attendance were multi-religious clergy, Speaker of Parliament Jagath Wickramaratne, Minister of Buddhasasana, Religious, and Cultural Affairs Dr. Hiniduma Sunil Senevi, other Ministers and MPs, Secretary to the President Dr. Nandika Sanath Kumanayake, senior government officials, foreign Ambassadors, High Commissioners, and a distinguished gathering of local and international guests.

(President’s Media Division)

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India – Pakistan agrees to a ‘full and immediate’ ceasefire

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Donald Trump says “India and Pakistan have agreed to a full and immediate ceasefire”.

In a post on social media platform Truth Social, the US President says: “After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE.

“Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!”

India’s External Affairs Minister S Jaishankar says “India and Pakistan have today worked out an understanding on stoppage of firing and military action”.

“India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so,” he adds.

The Indian Foreign secretary – Vikram Misri has confirmed that the ceasefire between the two countries began at 17:00 local time (12:30 BST).

Meanwhile, Deputy Prime Minister of Pakistan, Ishaq Dar has also confirmed the news and added that “Pakistan has always strived for peace and security in the region, without compromising on its sovereignty and territorial integrity!”

According to a statement by the Pakistan Airport Authority (APA), Pakistan’s airspace has been fully restored for all types of flights. The APA statement adds that all airports in the country are available for normal flight operations.

(Agencies)

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