Connect with us

News

“China has already offered SL a debt extension”

Published

on

The Export-Import Bank of China has provided Sri Lanka with a debt extension, China’s Foreign Ministry said on Monday, noting that China is willing to negotiate a medium- and long-term debt disposal plan with the country in a friendly manner, and do its best to promote Sri Lanka’s debt sustainability.

The remarks come as Bloomberg reported that the International Monetary Fund (IMF) is considering approving Sri Lanka’s bailout, even without the formal assurance of debt-restructuring support from China, citing people familiar with the discussions.

In response, Wang Wenbin, spokesperson for the Chinese Foreign Ministry, told a press conference on Monday that China has already provided Sri Lanka with a letter supporting the sustainability of Sri Lanka’s debt, expressing its willingness to extend the debt due in 2022 and 2023.

During the period, Sri Lanka will not have to repay the loan principal and interest of the Export-Import Bank, helping Sri Lanka to ease short-term debt pressure, the official said.

“We are willing to use this window to negotiate a medium- and long-term debt disposal plan with Sri Lanka in a friendly manner, and do our best to promote Sri Lanka’s debt sustainability,” Wang said.

The IMF, World Bank and Group of 20 nations chair India separately held virtual discussions Friday on global sovereign debt ahead of the finance ministers and central bank governors’ meeting in Bangalore this week.

The roundtable included officials from countries that have requested debt treatments under the G20 framework – Ethiopia, Zambia and Ghana – as well as middle-income countries such as Sri Lanka, Suriname and Ecuador, which have faced their own debt problems, Reuters reported.

The roundtable comes amid growing frustration over the slow pace of discussions on debt relief for some nations. Rather than seeking a global resolution, some have tried to blame China.

Chinese observers have urged developed countries to take more responsibility in addressing the debt risks faced by some nations, rather than using China as an excuse to shirk blame.

They pointed out that there are many reasons why some countries become mired in debt – the US Fed’s interest rate hikes, the global energy and food crises and other issues, warning some in the West to share the responsibility and seek a more “fair and just” solution.

(Global Times)

News

PCB postpones PSL

Published

on

By

The Pakistan Cricket Board (PCB) has announced the postponement of the remaining eight matches of the HBL PSL X.

A statement from Pakistan Cricket Board says : 

The last 24 hours have seen a worsening of the situation on the LOC, increased incursion of 78 drones, and the firing of surface to surface missiles from India.

The decision to postpone has been taken pursuant to advice received from the Prime Minister Mian Muhammad Shahbaz Sharif who has kept in view the reckless aggression from India that has escalated to a point where national attention and sentiments are rightly focused on the courageous efforts of the Armed Forces of Pakistan who are vociferously upholding the sovereignty of our beloved Pakistan.

The PCB and its players stand resolutely in solidarity with the families of the martyrs and our security personnel defending the nation.

The PCB recognizes the efforts and support of its partners, franchises, participating players, broadcasters, sponsors, and organizers in having ensured the smooth conduct of the tournament thus far, however; cricket while being a unifying force and a source of joy, must take a respectful pause when the country is facing such callous opposition.

We, at the PCB, also have sincere regard for the mental well-being of participating players and the sentiments of our foreign players, and we respect the concerns of their families who want to see them back home.

Yesterday, it was also announced that the IPL will also be suspended for a week.

Related News :

IPL suspended for a week over safety concerns

Continue Reading

News

Minister Nalinda elected President of Sri Lanka-India Parliamentary Friendship Association

Published

on

By

Minister of Health and Mass Media and Chief Government Whip Dr. Nalinda Jayatissa has been elected as the President of the Sri Lanka – India Parliamentary Friendship Association for the Tenth Parliament, the Department of Communications of Parliament said.

The revival meeting of the Friendship Association was held on May 08, 2025 in Parliament under the patronage of the Speaker of Parliament, Dr. Jagath Wickramaratne.

The High Commissioner of India to Sri Lanka, Santosh Jha, graced the occasion as the Guest of Honor. The event was also attended by the Deputy Speaker of Parliament, Dr. Rizvie Salih, the Leader of the Opposition, Sajith Premadasa, Ministers, Deputy Ministers, Members of Parliament, and the Secretary General of Parliament, Mrs. Kushani Rohanadeera.

At the meeting, Member of Parliament Dr. Kavinda Jayawardhana was elected as the Secretary of the Sri Lanka – India Parliamentary Friendship Association, the statement added.

During the meeting, representatives from both Sri Lanka and India highlighted the deep-rooted and enduring relationship between the two nations, spanning centuries. They emphasized the importance of strengthening parliamentary cooperation through exchange programs and sustained dialogue, according to the statement.

The Speaker expressed appreciation for India’s steadfast support during Sri Lanka’s most challenging times. He also highlighted the recent state visit of President Anura Kumara Dissanayake to India as a key milestone that has opened new avenues for bilateral collaboration. 

He also expressed his gratitude for organizing the upcoming Capacity Building Programme for newly elected Members of Parliament of Sri Lanka, to be conducted by the Bureau of Parliamentary Studies and Training of India later this month, it added.

Addressing the gathering, the High Commissioner of India to Sri Lanka, Santosh Jha, recalled the successful visit of the Indian Prime Minister Narendra Modi to Sri Lanka and reaffirmed India’s commitment to support Sri Lanka across multiple sectors as a close and trusted neighbor.

In his speech, the newly elected President Dr. Nalinda Jayatissa emphasized the vital role of the Friendship Association as a bridge between the two Parliaments and expressed confidence in fostering meaningful engagement to deepen the already strong ties between Sri Lanka and India, it said.

Delivering the vote of thanks, the Secretary of the Friendship Association he Dr. Kavinda Jayawardhana conveyed his heartfelt appreciation to India for its enduring friendship and reaffirmed Sri Lanka’s commitment to continued cooperation.

Continue Reading

News

Vesak week commences tomorrow

Published

on

By

The National Vesak Week will commence tomorrow (May 09), under this year’s theme of “Let’s associate with noble people with good qualities.”

According to the secretary to the Ministry of Buddha Sasana, Religious and Cultural Affairs, W.P. Senadheera said that it will continue until May 16.

The official inauguration ceremony will take place tomorrow at the Nuwara Eliya Buddhist Center, under the patronage of President Anura Kumara Dissanayake.

Sri Lanka Railways has announced special train services during the Vesak week and the long weekend.

Meanhwile, the Ministry of Public Administration has ordered the closure of slaughterhouses, meat vendors, casinos, and clubs nationwide from May 12 – 14 May for the state Vesak Festival. 

A circular issued on April 29 instructs all relevant businesses to comply during the period.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved