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China agreed to form global sovereign debt roundtable – IMF chief

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Chinese officials have agreed to participate in a global sovereign debt roundtable that would include a wide variety of stakeholders, including private sector creditors, International Monetary Fund chief Kristalina Georgieva said last Thursday.

Chinese officials have agreed to participate in a global sovereign debt “roundtable” that would include a wide variety of stakeholders, including private sector creditors, International Monetary Fund chief Kristalina Georgieva said on Thursday.

Georgieva told an event hosted by the IMF that she was feeling “a bit more optimistic” about the prospects for dealing with major debt issues facing low- and middle-income countries after high-level meetings with Chinese authorities last week.

The IMF chief last week she had a “fruitful exchange” with her Chinese counterparts on the need to accelerate debt relief for countries like Zambia and Sri Lanka, adding that she saw “space for a platform for more systematic engagement on debt issues, where China can play an active role.”

On Thursday, Georgieva said she had a “very constructive engagement” with Chinese leaders on the debt issue during her meetings after repeated calls for reforms to accelerate debt treatments under the Group of 20 common framework and expand it to include middle-income countries.

U.S. Treasury Secretary Janet Yellen and other Western officials have expressed mounting frustration about what they see as foot-dragging by China, now the world’s largest sovereign creditor, in providing relief under the G20 framework.

China has argued that private creditors and multilateral development banks should be required to accept debt “haircuts” to make the process fair.

Source: Reuters

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‘Will never allow Sri Lankan territory to be used inimical for India’s security interests’ – President

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President Anura Kumara Dissanayake has reiterated that Sri Lankan territory would never be allowed to be used in a manner inimical to India’s security interests. 

Dissanayake highlighted this, during a discussion held in Colombo with India’s External Affairs Minister (EAM) Dr. S. Jaishankar who visited Sri Lanka on Friday (04).

Issuing a statement regarding Dr. S. Jaishankar’s Sri Lanka visit, the Indian High Commission in Sri Lanka stated that regarding security and defence, the meetings brought out that the interests of India and Sri Lanka were closely intertwined. Their collaboration was in mutual interest and contributed to the stability and security of the region. The importance of a continuous dialogue that would promote trust, transparency and mutual sensitivity was recognized. 

Furthermore, with regard to the ethnic issue and the reconciliation process, EAM reiterated India’s support for the aspirations of all communities, including Tamils, for equality, justice, dignity, peace while maintaining the unity, territorial integrity and sovereignty of Sri Lanka., the Indian High Commission mentioned.

Meanwhile, he has assured that the full and effective implementation of the 13th Amendment of its Constitution and the early holding of Provincial Council elections will facilitate these objectives.

In his meeting with the President, Dr. Jaishankar spoke about ongoing initiatives in the field of energy production and transmission, fuel and LNG supply, solar electrification of religious places, connectivity, digital public infrastructure, health and dairy development. 

He highlighted that they would contribute to economic sustainability and provide new streams of revenue. The Sri Lankan President said that India’s economic support is critical to realize his vision of a prosperous Sri Lanka and meeting the aspirations of the people. He referred to the potential of export of renewable energy to India which could help reduce production costs in Sri Lanka and create additional resources. The President also noted the contribution of Indian tourists and recognized that this has the potential to grow further, the Indian High Commission added.

EAM’s conversation with the leadership also covered facilitating Indian investments and job creation in Sri Lanka, as well as expanding the flow of Indian tourists. In his meeting with Prime Minister Amarasuriya, he underlined that the Government of India was prepared to respond to the training and capacity building requirements of Sri Lanka. Their discussion also focused on the benefits of digital public infrastructure, the statement highlighted.

On Sri Lanka’s debt restructuring efforts, EAM recalled that India had been supportive of Sri Lanka’s economic stability and recovery from the very start. It was the first country to give financing assurances which enabled the IMF to finalize the Extended Fund Facility. He confirmed India’s support in the Official Creditors’ Committee in respect of Sri Lanka’s agreement with International Sovereign Bond holders. 

India is also willing to expedite the conclusion of its bilateral MoU with Sri Lanka, the Indian High Commission said, noting that the President conveyed his appreciation in that regard.

(adaderana.lk)

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

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Two killed in separate attacks in Pettah and Keselwatta

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A 33-year-old man was killed this morning in Pettah after being attacked with a sharp weapon on Second Cross Street. 

The suspects involved in the murder have not yet been identified.

In a separate incident, a 23-year-old was attacked and killed in Keselwatta. 

According to the police, the murder stemmed from a dispute between two groups. 

Authorities have arrested a 38-year-old suspect in connection with the Keselwatta killing.

Investigations are ongoing in both cases.

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New Director appointed to SIS

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The Deputy Inspector General of Police (DIG) Dhammika Kumara has been appointed as the new Director of the State Intelligence Service (SIS).

This appointment comes following the retirement of former Director of the SIS Major General Suresh Sallay.

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