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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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Won’t allow any breach of law & order during my tenure – President

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President Ranil Wickremesinghe stated that during his presidency, no one will be allowed to breach the law and order of the country. He emphasized that he will prioritize doing what is right over doing what is popular, and that presenting popular ideas can lead to the destruction of the country.

President Ranil Wickremesinghe said this during his address to the Tri Forces & Police officers and other rankers at the Air Force Base, Anuradhapura, as the Commander in Chief of the armed forces.

President Ranil Wickremesinghe asserted that no one is entitled to engage in violent protests on the streets, but all political parties have the right to express their opinions or criticize him in a peaceful manner.

He emphasized the importance of doing the right thing, and mentioned that they presented the International Monetary Fund agreement to the parliament to assess whether the parliamentarians had the courage to make the right decisions for the betterment of the country.

The President referred to the International Monetary Fund agreement as an example and expressed his expectation for everyone’s assistance in making the IMF program successful. He also stated that if the country adopts a fresh approach and embarks on a new journey, it can achieve significant development within the next 25 years.

The President asserted that Sri Lanka will win the economic war, similar to the successful fight against terrorism, adding that measures would be taken to establish economic independence in the country.

The President acknowledged that the armed forces and police will continue to play a crucial role in achieving economic independence, and also assessed the actions of the armed forces and police in maintaining law and order during the previous year.

The President expressed gratitude towards the armed forces for fulfilling their responsibility, as without their efforts, Sri Lanka would have become an anarchic state. He also mentioned that the ongoing competition between world powers is affecting the Indian Ocean, and he intends to take action as the President to protect Sri Lanka from this influence.

The President emphasized that future military situations can be shaped by technology and knowledge, unlike in the past. He highlighted the need for the armed forces and police to be equipped with modern technology and knowledge to overcome future challenges. The President initiated the Defence 2030 program, aiming to strengthen the defence forces of Sri Lanka.

The President also announced that stringent laws will be introduced to combat the drug scourge, and no amnesty will be granted to drug offenders. 

The President said that he had instructed the Minister of  Law and Order Tiran Alles, and Justice Minister Wijayadasa Rajapaksha to take strict action against such offenders and to utilize the support of the armed forces in this effort.

Minister of State for Defence Premitha Bandara Tennakoon, Senior Adviser to the President on National Security and Chief of Staff to the President Mr Sagala Ratnayake, Secretary to the Ministry of Defence GeneralKamal Gunaratne (Rtd), Chief of Defence Staff General Shavendra Silva, Army Commander Lieutenant General Vikum Liyanage, Air Force Commander Air Marshal Sudarshan Pathirana, Navy Commander Vice Admiral Priyantha Perera, Inspector General of Police Mr. C.D. Wickramaratne and around 1200 other rankers of the Tri Forces and Police were present on this occasion.

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39 Chinese nationals arrested over online financial fraud

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At least 39 Chinese nationals have been arrested by the Aluthgama police in connection with an online financial fraud.

Police said the suspects had defrauded millions of money over several months through the internet from the accounts of people in different countries.

The group had been staying in a tourist resort in the Kaluamodara area in Aluthgama and Police said they were arrested based on complaints received through several embassies.

While the arrested Chinese nationals were taken to the Alutgama police, several smartphones and cash in their possession were also taken into custody by police.

(dailymirror.lk)

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2 students killed during big match vehicle parade

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Two students were killed and seven others injured after a cab toppled during the vehicle parade held in view of the big match between Uva Paranagama Maha Vidyalaya and Dharmadutha College this afternoon, Police said.

The injured were admitted to the Badulla Hospital.

The accident occurred when the vehicles paraded around the ground during the match.

Further investigations are underway

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