News

Agreement with private creditors, China Exim bank before IMF meeting

Published

6 months ago

May 24, 2024

nipuni

The Government has announced that it will sign Memorandums of Understanding (MoUs) with the Paris Club and the Export-Import Bank of China (EXIM Bank) to restructure the country’s debt before the end of the International Monetary Fund (IMF) Executive Board meeting.

State Minister of Finance Shehan Semasinghe told the Daily News that Sri Lanka will make every effort to reach an agreement with the official creditor committee of the Paris Club and the Export-Import Bank of China on debt restructuring, and will sign the MoUs once an agreement is reached.

He emphasised that the IMF Board of Directors will promptly review Sri Lanka’s Extended Funding Facility (EFF)arrangements, and Sri Lanka is expected to sign the MoUs before that review.

The Minister stated that following this review, US$ 330 million in funds will be released to Sri Lanka by IMF. This amount represents the third installment of the extended loan programme provided to Sri Lanka by the IMF.

He also expressed confidence that the restructuring process with bilateral creditors will be completed very soon.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

News

President holds talks with ITAK MPs

Published

10 hours ago

December 4, 2024

editor

President Anura Kumara Dissanayake met with Parliamentarians from the Illankai Tamil Arasu Kadchi (ITAK) today (04) at the Presidential Secretariat.

During the discussion, the ITAK MPs brought to the President’s attention the longstanding challenges faced by the people in the Northern and Eastern regions.

Parliamentarians Sivagnanam Shritharan, Pathmanathan Sathiyalingam, Shanmugam Kugathasan, Shanakiyan Rasamanickam, Gnanamuthu Srineshan, Kaveenthiran Kodeeswaran, Elayathamby Srinath, and Thurairasa Raviharan also attended the meeting.

(President’s Media Division)

News

Govt. policy statement passed in Parliament sans vote

Published

10 hours ago

December 4, 2024

editor

The resolution on the Statement of the Government Policy presented by President Anura Kumara Dissanayake in Parliament on November 21 was passed unanimously in Parliament today (Dec. 04) without a vote.

The debate on the Statement of the Government Policy was held as a two-day debate from 9.30 am to 5.30 pm yesterday (Dec. 03) and from 9.30 am to 5.00 pm today.

BIZ

W.M. Mendis’ liquor manufacturing license to be suspended

Published

10 hours ago

December 4, 2024

editor

The liquor manufacturing license issued to W.M. Mendis & Co. Limited will be suspended from tomorrow (December 5) due to their failure to pay Rs. 5.7 billion in excise taxes and surcharges, the Excise department said.

Accordingly, as per the provisions Excise Ordinance Act, the Commissioner General of Excise has ordered to suspend the liquor manufacturing license issued to W.M. Mendis & Co. Limited effective from tomorrow.

The department further stated that measures have been taken to suspend the liquor manufacturing process from tomorrow (December 5) and to not renew the other licenses issued to the company from December 31 onwards if the company continues non-payment of tax arrears and surcharges.