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China agreed to form global sovereign debt roundtable – IMF chief

Published

6 months ago

December 17, 2022

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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

News

SL records highest export revenue last year

Published

2 mins ago

June 8, 2023

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The highest export revenue in Sri Lankan history, which was USD 13.1 billion, was recorded last year, Plantation Industries and Industries Minister Ramesh Pathirana said.

He said this when the Advisory Committee of the Ministry convened in Parliament recently.

The minister said that 22 car and three-wheeler assembling plants are currently operative in the country and through the restriction of imports, a great progress can be seen in the industries.

Many issues related to gems and jewellery, clay, cashews, cane and bamboo industries were brought to the attention of the committee by the MPs and the minister has given instructions to the officials including the ministry secretary to take immediate action in this regard.

The minister further said that industrial development will be carried out in 20 identified areas.

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Family of pickpockets arrested!

Published

1 hour ago

June 8, 2023

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A man who got into buses with wife and three children and then stole mobile phones and wallets of passengers was arrested along with 5,200 milligrams of heroin, the Piliyandala Police said.

During the interrogation of the suspect, police found nearly 20 stolen mobile phones worth over Rs.1 million.

Piliyandala Crimes OIC IP Dinesh Hettiarachchi, who has been paying attention to several complaints received from youths and school children regarding the loss of mobile phones in buses, has arrested the suspect in Miriswatta based on CCTV footage.

A police officer said that the wife and three children were with the suspect at the time of his arrest, and the three children had started crying requesting not to take their father away.

The 33-year-old suspect, a resident of Pothupitiya in Wadduwa, failed to give a valid reason as to why he was in Piliyandala with his wife and children.

Investigations revealed that the mobile phones of school children and women in buses were stolen meticulously by the suspect along Route No. 138 Homagama-Pettah and Route No. 296 Piliyandala-Maharagama.

Police said that they were able to find the stolen mobile phones which had been sold at a very low price in Badowita, Mt.Lavinia and Pettah.

The suspect will be produced in the Kesbewa Magistrate’s Court.

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‘Murawatte Kabaraya’ hospitalized!

Published

1 hour ago

June 8, 2023

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A suspect, who was recaptured after escaping from the custody of the Kalutara Prison officers, was hospitalized due to injuries sustained after he banged his head against the iron door of the police cell, Panadura North Police said.

The suspect was identified as 32-year-old ‘Murawatte Kabaraya’, a resident of Koralawella, Moratuwa.

Police sources said that the suspect was arrested yesterday (07) by a group of officers of the crimes division.

He was admitted to the Panadura Base Hospital in a ‘Suwa Seriya’ ambulance.