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China calls on IMF to provide loan support to SL as soon as possible

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The Chinese Foreign Ministry has briefed about comprehensive efforts on Sri Lanka’s debt restructuring.

Speaking to media on Friday (03), Foreign Ministry spokesperson – Ms. Mao Ning has called on all other creditors to take synchronized and similar steps as well as the IMF to provide loan support as soon as possible.

The complete remarks of Ms. Mao are as follows :
Shenzhen TV: It is learned that the Export-Import Bank of China has provided Sri Lanka a letter as required, offering an extension on the debt service due in the next two years and saying it would like to have friendly consultation with Sri Lanka regarding medium- and long-term debt treatment. Can you confirm this?

Mao Ning: On January 19, the Export-Import Bank of China, as the official bilateral creditor, provided a financing support document to the Ministry of Finance, Economic Stabilization and National Policies of Sri Lanka, saying the Bank is going to provide an extension on the debt service due in 2022 and 2023, which means Sri Lanka will not have to repay the principal and interest due of the Bank’s loans during the above-mentioned period, so as to help relieve Sri Lanka’s short-term debt repayment pressure; meanwhile, the Bank would like to have friendly consultation with Sri Lanka regarding medium- and long-term debt treatment in this window period; and the Bank will make best efforts to contribute to the debt sustainability of Sri Lanka. The Bank also noted that it will support Sri Lanka in its loan application to the IMF; in the meantime, the Bank will continuously call on commercial creditors (including the International Sovereign Bondholders) to provide debt treatment in an equally comparable manner, and encourage multilateral creditors to do their utmost to make corresponding contributions.

As we have said several times, as a friendly neighbor and true friend, China has been providing assistance for Sri Lanka’s economic and social development to the best of our capabilities. The financing support document is aimed at combining an “immediate contingency measure” and “medium- and long-term debt treatment” to rapidly, effectively and truly resolve Sri Lanka’s debt issue. As far as I have learned, China is the first official bilateral creditor to have taken the initiative to announce debt extension to Sri Lanka. This speaks to China’s sincerity and action to support Sri Lanka’s effort to achieve debt sustainability.

China calls on all other creditors of Sri Lanka, especially multilateral creditors, to take synchronized, similar steps and give effective, strong support to Sri Lanka to help the country emerge from its default status at an early date and eventually work out an arrangement for Sri Lanka to achieve medium- and long-term debt sustainability. China also calls on the IMF to take into full consideration the urgency of the situation in Sri Lanka and provide loan support as soon as possible to relieve the country’s liquidity strain.

Going forward, China will continue to support relevant financial institutions in actively working out the debt treatment. We will work with relevant countries and international financial institutions to jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.

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NPP secures control of 200 LG bodies

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The National People’s Power has secured control of a total of 200 local councils so far.

The NPP also secured majority votes at the Balangoda Urban Council and the Thanamalvila Pradeshiya Sabha today (June 24).

At the recently concluded LG polls, the NPP secured outright victories in 151 LG bodies.

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10 J’pura students unnecessarily charged for hostel damages – CoPE

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During a meeting of the Committee on Public Enterprises (CoPE), it was revealed that ten students of the University of Sri Jayewardenepura were unjustly charged a monetary penalty in connection with damages caused to a university hostel due to a student clash.

The committee pointed out that the amount charged was three times the actual value of the damaged university property, which is the maximum amount that can be legally charged, along with an additional surcharge of 25%. Accordingly, the Vice-Chancellor of the university informed the committee that if there has been an error in the calculation of the charges, steps would be taken to rectify it.

The Chair of the committee further instructed the officials to reconsider the fairness of imposing the fine only on one party involved in the clash, and not both parties.These matters were discussed during the COPE meeting held on the 20th at the Parliament under the Chairmanship of Dr. Nishantha Samaraweera, MP, to examine the audit reports for the years 2022 and 2023 and the current performance of the University of Sri Jayewardenepura.

The committee held extensive discussions on various issues, including the composition of the university staff, the financial situation, the condition of buildings and constructions, and the relationship between the students and the university administration, emphasizing the need to maintain a student-friendly environment.

It was also disclosed during the committee meeting that the university’s full-time bursar had been released to serve as a non-executive director of a private company. Committee members raised concerns over releasing a person holding a full-time position without consulting the Ministry, describing such decisions as problematic.

Responding to this, the Registrar stated that the bursar was released in a manner that would not hinder her official duties. Nevertheless, the committee was informed of the number of leave days obtained by the bursar and that there had been 44 days in 2024 for which no arrival or departure entries had been recorded. The Chair instructed the Registrar to rectify this information.The committee also had an in-depth discussion about the recruitment of a project manager without a formal public announcement or a proper application process, which was deemed a deviation from the accepted recruitment procedures.

Accordingly, the committee chairman directed the Secretary to the Ministry to investigate and prepare a report on the problematic recruitment practices in the university’s staff appointments.

Further, the committee discussed the university’s financial deposits. It was revealed that although Rs. 10,500 had been charged per student for the 2024 external degree convocation, over Rs. 5.3 million remained unutilized after the event. The committee drew attention to this matter and instructed the officials to determine such fees in a more affordable manner for students. The university administration informed the committee that they have decided to reduce the amount charged for convocations from this year onwards.

Meanwhile, the committee also held lengthy discussions on the existing and past problematic conditions related to the university’s buildings and construction projects.Members of Parliament Dayasiri Jayasekara, Attorney at Law, Nilanthi Kottachchi. Attorney-at-Law, Ruwan Mapalagama, Asitha Niroshana Egoda Vithana, Thilina Samarakoon, Chandima Hettiaratchi, and Lakmali Hemachandra, Attorney at Law participated in this committee meeting.

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High Posts committee approves appointments of 4 chairmen

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The Committee on High Posts approved the appointment of Chairpersons of four State Institutions recently.

The approval was granted during the Committee’s meeting held on June 20, 2025, chaired by the Prime Minister, Dr. Harini Amarasuriya.

The appointments are as follows :

  • Mr. Somasiri Ekanayake – Chairman of the Employees’ Trust Fund Board (ETF)
  • Mr. B. A. P. K. R. Bamunu Arachch – Chairman of the Ceylon Fishery Harbours Corporation
  • Mr. M. R. H. Swarnathilaka – Chairman of the Development Lotteries Board
  • Mr. S. Nesarajan – Chairman of Paranthan Chemicals Limited

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