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All eyes are on China – Nuland

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US Under Secretary of State for Political Affairs Victoria Nuland said on today (01) that the United States wants to see an IMF agreement for Sri Lanka as soon as possible.

Speaking to media in Colombo, she said that the United States and the Paris Club are doing their part to see an IMF agreement for Sri Lanka come through, however, added that what China has offered in terms of debt restructuring and relief is not enough.

“We need to see credible and specific assurances that they will meet the IMF standard of debt relief,” she added.

US Under Secretary of State for Political Affairs Victoria Nuland met with Sri Lankan President Ranil Wickremesinghe in Colombo for talks on the ongoing US support for Sri Lanka.

She noted that the United States is for a quick conclusion of the negotiations with the IMF, and expects all of Sri Lanka’s major creditors to work with the IMF.

“We expect that China will provide credible and specific assurances regarding its readiness to join the rest of us in meeting the IMF standards regarding debt restructuring. So, we are seeing the rest of Sri Lanka’s creditors come forward with those assurances, and now all eyes are on China to do the same,” she noted.

Ms. Nuland has also said it is important for Sri Lanka to go ahead with the March elections and the people of Sri Lanka must be allowed to have a voice in their future.

“It is vital time for Sri Lanka to strengthen its democracy, its governance, and its reconciliation. This includes proceeding with local elections this March, giving people across the country a voice in their future,” she said.

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Adani decides to withdraw from wind energy project in SL

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Adani Green Energy has decided to withdraw from its proposed wind energy project in Mannar, Sri Lanka.
The company has conveyed this decision in a letter addressed to the chairman of Sri Lanka’s Board of Investment.

“It was learnt that another Cabinet appointed negotiations committee and Project Committee would be constituted to renegotiate the project proposal,” the company wrote in a letter, a copy of which was seen by Reuters, addressed to the chairman of Sri Lanka’s Board of Investment.

“This aspect was deliberated at the Board of our company and it was decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” the letter added.

Adani Green Energy is a part of Indian billionaire Gautam Adani’s Adani Group.

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AG withdraws recommendation on Lasantha murder suspects

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The Attorney General has informed Mt. Lavinia Magistrate’s court that the recent recommendation made by him regarding the suspects involved in the murder of Sri Lankan journalist – Lasantha Wickrematunge will be suspended temporarily.

The AG has informed the Court of this in writing today (Feb. 13).

In a letter sent to the Director of the CID on Jan. 27, the Attorney General had previously provided his legal advice, regarding the release of three individuals.

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UAE – SL reaches agreement to strengthen economic & investment relations

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Coinciding with the President’s three-day official visit to the United Arab Emirates (UAE) to attend the World Governments Summit 2025, Sri Lanka and the UAE reached an agreement on Reciprocal Promotion and Protection of Investments to strengthen economic and investment relations between the two countries.

The agreement was signed by Mohamed Bin Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs.  

This bilateral agreement establishes a secure legal framework to expand investment opportunities in global markets while ensuring the protection of foreign investments.  

The purpose of this agreement is to facilitate and strengthen foreign investments between the two nations by ensuring investor rights protection, promoting economic cooperation, and establishing comprehensive investment protection mechanisms, dispute resolution frameworks, and policy structures. This agreement will also contribute to strengthening global economic partnerships and creating opportunities for exploring new investment prospects in Sri Lanka.

This agreement underscores the importance of bilateral economic development and financial stability while demonstrating the commitment of both the United Arab Emirates and Sri Lanka to strengthening economic cooperation. It aims to foster trade and business expansion in Sri Lanka while promoting a transparent and stable investment environment.

Furthermore, this agreement also highlights Sri Lanka’s commitment to enhancing Foreign Direct Investment (FDI) and fostering a more attractive investment landscape. By enhancing investor confidence, it is expected to generate new business opportunities and contribute to economic progress.  

Ultimately, this agreement will reinforce the long-term partnership between the UAE and Sri Lanka, facilitating sustainable investments and advancing trade and financial collaborations between the two countries.  

(President’s Media Division)

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